BRUSSELS — Delhaize Group here said last week that its year-over-year comparable-store sales in the United States were up 2.2% in the fourth quarter and 2.7% for all of 2006, led by strong performances at Food Lion and Hannaford Bros.
The company, which only released top-line results last week, said it had overall sales growth of 5.5% at identical exchange rates, to about $24.85 billion. Excluding the impact of currency fluctuations, sales were up 4.8%.
The results were at the high end of the company's own projections, but fell below what some analysts anticipated, according to reports. The stock slid about 3% on the day the results were announced.
“Delhaize Group sales growth for the full fiscal year came out at the top end of our expectations, and our 2006 performance marks the fourth consecutive year of accelerating sales momentum,” said Pierre-Olivier Beckers, president and chief executive officer, Delhaize Group.
In the fourth quarter, total company sales were up 4.6% at identical exchange rates.
In addition to the sales growth in the U.S., where the company generates 75% of its revenues, Delhaize also said it had strong results in its home market of Belgium, where comparable-store sales rose 2.6% and overall sales were up 6.9%, compared to results from 2005. The company acquired the Cash Fresh chain there in May 2005, which positively impacted sales. The company's Alfa-Beta chain in Greece recorded sales gains of 13.5% in 2006, vs. 2005 levels.
