Q2 2024 Koninklijke Ahold Delhaize NV Earnings Call Transcript
Key Points
- Strong second quarter performance with solid momentum in both regions.
- Omnichannel capabilities and own brand assortment showing positive results.
- European margin recovery is well underway.
- Continued growth in online sales, particularly in Europe.
- Successful cost control measures and vendor support contributing to improved margins.
- Impact of closing 32 underperforming Stop & Shop stores, leading to significant non-recurring pretax charges.
- Negative impact on net sales from the divestment of Fresh Direct and the end of tobacco sales in the Netherlands.
- Higher labor costs and service costs in the U.S. impacting margins.
- Ongoing cost inflation requiring continuous mitigating actions.
- Seasonal patterns affecting free cash flow, with a significant decrease compared to the previous year.
Ladies and gentlemen, good morning, and welcome to the analyst conference call on the second quarter 2024 results of our Ahold Delhaize. Please note that this call is being webcast and recorded.
Please note that in today's call, forward-looking statements may be made. All statements other than statements of historical facts may be forward-looking statements. Such statements may involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in the statements.
Such risks and uncertainties are discussed in the interim report second quarter 2024 and also in ours that has its public filings and other disclosures and then has the disclosures are available on our how the Hays.com. Forward-looking statements reflect the current views of that has as management and assumptions based on information currently available to them has his management.
Forward-looking statements speak only as of the date they are made and that has it does not assume any obligation to update such statements, except as required by
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