Belgian supermarket company Delhaize Freres et Compagnie-Le Lion SA, which does 70 percent of its business in the US, said it expects same-store sales in 2002 to fall one percent, and total store sales to be down two percent. Last month, company CEO Pierre-Olivier Beckers had warned that U.S. sales would rise only one percent for the full-year, down from an earlier two percent growth estimate. Analysts say that that both the faltering economy and tough competition from Wal-Mart are taking their toll on Delhaize.
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