Delhaize Takes $18.6M Charge for Sweetbay

Delhaize Group said yesterday that it took an impairment charge of $18.6 million for the value of 25 Sweetbay stores, indicating those locations are not meeting financial projections.

BRUSSELS — Delhaize Group here said yesterday that it took an impairment charge of $18.6 million for the value of 25 Sweetbay stores, indicating those locations are not meeting financial projections. “We continue to work our way toward profitability [at Sweetbay],” said Craig Owens, chief financial officer, Delhaize, citing recent sales gains and expense reductions at the banner. “We continue to be very optimistic about Sweetbay in the long term.” Owens made his remarks during a fourth-quarte

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