Friday, August 24, 2012

Bottom Dollar still operating at a loss

Delhaize Group, parent for Food Lion and Bottom Dollar, among others, released its second quarter earnings earlier this week. U.S. sales were down (sales were slightly higher when excluding the 126 stores closed in February), as were comparable-store sales, operating profits and margins. Worldwide, sales for Delhaize Group increased for the quarter while profits dipped.

As for Bottom Dollar, which has expanded rapidly in the Philadelphia market, the company cited "strong revenue growth " and reported that "we have reduced the operating losses comparable to the first quarter of this year as we have focused on a better mix between sales growth and profitability."

However, Bottom Dollar was still operating at a loss.

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