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Ahold Delhaize Posts Mixed Results In Q4

For the fourth quarter, and after the July merger of Ahold and the Delhaize Group, Ahold Delhaize posted net income from continuing operations of $152 million, or 12 cents per diluted share, versus $269 million, or 33 cents per diluted share, in the year-earlier quarter, according to a filing with the United States Securities and Exchange Commission.

Net sales were $16 billion versus $10.36 billion in the period a year earlier. In the quarter, Ahold operating income was $515.4 million, up from $409.5 million, year over year.

Ahold Delhaize posted pro forma net income from continuing operations, adjusted for extraordinary effects, of $167 million, or 13 cents per diluted share, versus $387 million, or 31 cents per diluted share, in the year-earlier quarter.

Adjusted net sales were $16.42 billion versus $16.58 billion in the quarter a year earlier. Ahold Delhaize adjusted operating income was $530 million, down from $591 million, year over year.

In the fourth quarter, adjusted net sales for Ahold USA were $5.92 billion versus $6.25 billion and operating income was $234 million versus $270 million in the period a year previous. Comparable stores declined by 0.2% when gasoline sales are excluded.

Adjusted net sales at Delhaize America were $4.2 billion versus $4.04 billion and operating income was $149 million versus $132 million in the quarter a year before. Comps increased by 2.2%.

In the full fiscal year, Ahold Delhaize underlying net income from continuing operations was $1.3 billion versus $1.01 billion in the year past, according to the company’s annual report. Net sales were $52.59 billion and operating income was $1.67 billion as compared to net sales of $40.42 billion and operating income of $1.4 billion in the fiscal year before.

In full year pro forma adjusted results, Ahold Delhaize underlying net income from continuing operations was $1.58 billion versus $1.49 billion in the year prior. Net sales were $65.96 billion and operating income was $2.08 billion as compared to net sales of $64.43 billion and operating income of $2.01 billion in the fiscal year before.

At the end of the fiscal year, Ahold USA operated 776 stores versus 788 at the end of the year earlier and Delhaize America operated 1,214. In the United States, Ahold Delhaize runs several supermarket and grocery operations including Stop & Shop, Giant, Giant Food, Martin’s, Food Lion, Hannaford, bfresh and Peapod.