Delhaize FY U.S. revenue up 5.6%

BRUSSELS, Belgium Delhaize reported revenue growth of 5.6% and comparable-store sales growth of 2.5% at its U.S. division.

For the fourth quarter, U.S. revenue was up 10.3% and comparable-store sales were up 2.9%.

"Delhaize Group again posted a solid performance in 2008," said Pierre-Olivier Beckers, president and CEO. "Our operating companies maintained their strong revenue momentum despite the difficult economic environment. Due to many sales building measures such as the increased offering of private brand products, improved price competitiveness and store remodeling, consumers have stayed loyal to our stores. Our profit growth for 2008 ultimately exceeded our guidance range as a result of sustained gross margin supported by increased private brand sales, continued efficiencies and disciplined cost management. Our strong revenue momentum in the fourth quarter, supported by stable or increasing transaction counts, put us in position of strength as we begin 2009."