Solid year for Delhaize America
Solid year for Delhaize America
The Delhaize Group saw revenue growth during the four quarter of 2014, and the company announced positive numbers for 2014 as a whole. Frans Muller, president and chief executive officer, also noted that in 2015 the company will be focused on continuing to roll out the Easy, Fresh & Affordable strategy at Food Lion.
Easy, Fresh & Affordable is a multi-year initiative to make shopping easier for Food Lion customers at the company's more than 1,100 stores, while keeping the low prices customers expect.
“In 2014, we made substantial progress in a number of areas and believe the strategy announced in March of 2014 has resonated with all stakeholders," Muller said in a press release. "While we recognize there is still significant work to be done to achieve our ambitions and goals, I am confident in our team´s ability to deliver.
“For 2015, our focus will be to further roll-out the Easy, Fresh & Affordable strategy at Food Lion and to implement the transformation plan in Belgium, both initiatives focused on the customer," he continued. "We will also seek to accelerate growth in selected markets. Finally, we will continue to be disciplined with respect to operating costs, capital allocation and working capital.”
Muller said the preliminary unaudited group underlying operating profit stood at $832 million for 2014, excluding the 53rd week in the United States, driven by strong sales growth and a relatively stable underlying operating margin at Delhaize America. The company generated an operating free cash flow of approximately $660 million.
“Our fourth quarter revenues at Delhaize America were solid, partly helped by inflation and both Food Lion and Hannaford reported positive real sales growth," Muller added in a press release.