Dutch grocery retailer Ahold posted an increase in first-quarter net income, with gains driven by stronger operating results within its US division.
The company said today (7 June) that net income for the period ended 24 April was up 6.2% to reach EUR291m (US$426.9m).
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Sales grew 5.9% to EUR9.3bn over the period, but were up 6% at constant exchange rates.
The company’s CEO, Dick Boer, said Ahold recorded “particularly strong sales and margins” in the US, which it attributed partially to the timing of Easter.
In the US division, net sales were up 7.4% to reach US$7.6bn, while identical store sales rose 3.2%, excluding petrol.
The group’s Dutch division posted a 3.9% increase in net sales to reach EUR3.2bn, while identical store sales were up 2.8%.
“In the Netherlands margins were impacted by increasing inflation which was not fully passed on to customers. We will continue to manage the balance between sales and margins in a challenging environment of inflation and intense promotional activity, especially in the United States,” added Boer.
