Consumer
Stop & Shop Owner Ahold Delhaize’s Profit Beats Estimates on Cost Cuts
- The retailer maintained its operating margin guidance for 2024
- Ahold has been working to reduce costs, simplify the company
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Stop & Shop owner Royal Ahold Delhaize NV’s profit beat estimates in the first quarter, helped by the grocer’s measures to cut costs.
Its adjusted operating profit rose 0.7% to €861 million ($925 million) in the period, the owner of supermarket chains including Food Lion and Hannaford in the US said on Wednesday. That was above an average estimate of €829 million in a Bloomberg survey of analysts.