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Delhaize Group (DEG:NYSE) Financial Highlights Second Quarter 2008
* Revenue growth of +2.6% at identical exchange rates * Comparable store sales growth of +1.9% in the U.S. and +0.7% in Belgium * Strong double-digit revenue growth in Greece (+14.5%) and in Indonesia and Romania (+32.1% at identical exchange rates) * Group share in net profit increase of +56.8% at identical exchange rates due primarily to prior year financial charges
Financial Highlights First Half 2008
* Revenue growth of +3.7% at identical exchange rates * Organic revenue growth of +4.1% * Comparable store sales growth of +2.2% in the U.S. and +1.3% in Belgium * Group share in net profit increase of +24.3% at identical exchange rates
CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: "In the second quarter of 2008 our revenues grew at a rate that is reflective of the current economic environment with consumers' purchasing power under pressure. In this context, we have been increasingly focusing on our price position. We are fortunate to have our most powerful private label offering ever, giving our customers high quality alternatives at great prices. We are committed to fund price investments and offset underlying cost pressures through major savings initiatives that will have a lasting effect on our organization. We continue to focus on our long-term strategies, which will make us even stronger when we emerge from this challenging economy."
