Ahold posts 3.1% profit rise in Q2

Amsterdam Dutch supermarket group Koninklijke Ahold NV reported on Thursday that it posted a 3.1% rise in second-quarter net profit, helped by strong sales in the United States and the euro's gains against the dollar.

The retailer, which operates Stop & Shop, Giant-Carlisle and Giant-Landover banners in the United States, reported net profit of 202 million euros ($255.5 million) compared with 196 million euros a year earlier.

"We continued to grow sales, volumes and market share in the Netherlands and the United States," said Ahold CEO John Rishton. "Market conditions remained challenging with high levels of promotional activity."

In the United States, where Ahold generates over half of its revenue, sales increased 5.5% to $5.5 billion.