Globe Newswire
Ahold Delhaize reports solid Q1 results with an accelerated two-year comparable sales growth rate**; raises full-year earnings guidance
In Q1, the COVID-19 pandemic continued to impact the local communities and brands of Ahold Delhaize, resulting in approximately €150 million spent to support customers, associates and communities with COVID-19 relief care.On a two-year comparable sales growth basis**, comparable sales excluding gas in the U.S. increased 15.5% and in Europe were up 18.1% in Q1 2021, a sequential acceleration versus growth in Q4 2020 of 13.5% and 13.9%, respectively.Net sales were €18.3 billion, up 5.8% in Q1 at constant exchange rates. In the U.S. and Europe, comparable sales excluding gas grew 1.7% and 8.3% in Q1, respectively. Net consumer online sales sequentially accelerated to 103.3% in Q1 at constant exchange rates, including U.S. growth of 188.3% and 78.6% growth in Europe.Underlying operating margin was 4.6%; diluted underlying EPS was €0.54.IFRS-reported operating income was €828 million in Q1; IFRS-reported diluted EPS was €0.53….
