Online sales buoy supermarket group Ahold Delhaize

Business

THE HAGUE, Netherlands (AP) — Global retailer Ahold Delhaize says soaring online sales and a strong performance in the United States have driven up revenue, while net profit edged lower in the third quarter.

Ahold Delhaize, which owns the Stop & Shop, Food Lion and Hannaford stores in the United States, said Wednesday that sales based on constant exchange rates rose 2.9% to 16.7 billion euros ($18.5 billion) compared with the same quarter last year.

Net profit fell 4.1% to 453 million, excluding currency rate fluctuations, due in part to higher insurance and other costs.

Sales rose 2% in the company’s U.S. stores.

CEO Frans Muller says, “We saw a strong overall performance at our U.S. brands, particularly at Food Lion and Hannaford.”

The company’s online sales rose by 23.9% to 850 million euros.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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