U.S. performance buoys Delhaize revenue in Q4

Brussels, Belgium – The addition of a 53rd week in fiscal 2014 for its U.S. operations helped global grocery conglomerate Delhaize Group make up for disappointing results from its Belgium stores. Including the extra week and benefiting from retail inflation, fourth quarter U.S. revenues were $5.23 billion, a 12% increase from $4.67 billion the same period a year earlier.



Meanwhile, revenues in Belgium, where workers have been striking over a corporate restructuring that may eliminate as many as 2,500 jobs, dropped 6% to $1.41 billion from $1.5 billion. Southeastern Europe revenues rose 3% to $932 million, from $906.4 million. Fourth quarter total revenues were $6.49 billion, up 11% from $5.82 billion. Same-store sales rose 3.6% in the U.S., but fell 6.9% in Belgium and 2.2% in Southeastern Europe.



“Our fourth quarter revenues at Delhaize America were solid, partly helped by inflation and both Food Lion and Hannaford reported positive real sales growth,” said Frans Muller, president and CEO, Delhaize Group. “In Belgium, our revenues and results were both negatively impacted by disruptions in our stores and in our distribution network.”



For full fiscal year 2014, Delhaize Group revenues were $23.98 billion, a 4% increase from the prior fiscal year. Revenues rose 6.6% in the U.S., with same-store sales of 4.4%, which drove the overall increase.