Q3 2024 Koninklijke Ahold Delhaize NV Earnings Call Transcript
Key Points
- Koninklijke Ahold Delhaize NV (ADRNY) reported solid and consistent performance in Q3 2024, with a focus on quality execution and customer relationships.
- The company achieved a 12.4% increase in group online sales, excluding the divestment of FreshDirect, driven by new customer growth and strong retention.
- In the US, the company expanded its click-and-collect locations by over 70 and saw a 40% increase in DoorDash orders in Q3 compared to Q2.
- Albert Heijn in the Netherlands experienced double-digit online sales growth, supported by increased logistics capacity and digital innovations.
- The company completed the conversion of 128 Delhaize stores in Belgium, resulting in strong market share recovery and double-digit sales growth in converted stores.
- The company faced challenges with low top-line inflation and high cost inflation, requiring disciplined management.
- The closure of 32 underperforming Stop & Shop stores resulted in a $38 million reduction in sales and a nonrecurring pretax charge of $136 million.
- Net sales in the US decreased by 0.1%, impacted by the divestment of FreshDirect and a decline in gasoline sales.
- The end of tobacco sales in the Netherlands negatively impacted net sales by 3.3 percentage points.
- Higher labor costs and increased price investments partially offset positive impacts from margin mix in the US.
(video playing) Ladies and gentlemen, good morning, and welcome to the analyst conference call on the third-quarter 2024 results of 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 third-quarter 2024 and also in Ahold Delhaize's public filings and other disclosures. Ahold Delhaize disclosures are available on aholddelhaize.com.
Forward-looking statements reflect the current views of Ahold Delhaize's management and assumptions based on information currently available to Ahold Delhaize management. Forward-looking statements speak only as of the date they are made. And Ahold Delhaize does not assume any obligation to update such statements, except
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
