MarketWatch reports that Ahold Delhaize said yesterday that "its mega-merger got off to a good start after the newly merged supermarket operators reported solid standalone results in the second quarter, driven in part by a robust performance in the US."
The company said that Ahold's Q2 same-store sales were up 1.2 percent and underlying operating profit was up seven percent from the same period a year ago; sales at Delhaize stores were up two percent and underlying operating profit was up 10 percent.
"We have started our new chapter as Ahold Delhaize with good momentum, with these two strong sets of pre-merger results," said Chief Executive Dick Boer, noting that third quarter results will be reported for the combined companies.
The story notes that "Ahold Delhaize said it intends to sell another 10 stores in the U.S. after agreeing to divest 86 stores to get merger approval from the Federal Trade Commission. The additional disposals will be concentrated in the Richmond area, the company said, without giving further detail."
The company said that Ahold's Q2 same-store sales were up 1.2 percent and underlying operating profit was up seven percent from the same period a year ago; sales at Delhaize stores were up two percent and underlying operating profit was up 10 percent.
"We have started our new chapter as Ahold Delhaize with good momentum, with these two strong sets of pre-merger results," said Chief Executive Dick Boer, noting that third quarter results will be reported for the combined companies.
The story notes that "Ahold Delhaize said it intends to sell another 10 stores in the U.S. after agreeing to divest 86 stores to get merger approval from the Federal Trade Commission. The additional disposals will be concentrated in the Richmond area, the company said, without giving further detail."
- KC's View:
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Considering the way the supermarket wars are shaping up in Richmond, I might be selling stores there, too ... if only to get rid of anything tat might end up being dead weight.
As for the new. combined company - I want to see what it does to be better, not just more efficient. And I want to be dazzled. (Dazzling may be the bare minimum of what is necessary to be competitive these days...)
