Ahold USA, parent company of Giant and Stop & Shop, reported yesterday that sales increased 3.4% to $6 billion in the second quarter as compared to the same period a year ago. The company also announced gains in identical-store sales and operating margin (to 4.3%).
Worldwide, Ahold's net income rose on higher sales. CEO Dick Boer said he expects market conditions to remain difficult and is cautious about the potential impact of rising food costs in the United States.
As for the recent conversion of 15 Genuardi's stores in the Philadelphia market, the company said it was pleased. Boer won't rule out additional acquisitions, but says the current store base in the U.S. is more important.