Monday, September 16, 2013

Sales increase at Food Lion, Bottom Dollar still not profitable

Delhaize Group sales and earnings increased in the company's second quarter due in part to sales increases at Food Lion, according to a company statement issued last month. U.S. sales for Delhaize, which includes Food Lion, Hannaford and Bottom Dollar, improved 0.4% to $4.25 billion, as compared to the same period one year ago.

Margins improved from 3.7% to 3.8%, and profits in the U.S. were up by 4.9% to $162 million.

Although Bottom Dollar is still not profitable, Delhaize says the chain is making significant progress on cost and productivity initiatives and is continuing to gain new shoppers.

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