AHOLD STOCK TUMBLES ON EARNINGS NEWS

ZAANDAM, Netherlands -- Ahold here reported earnings of $130 million euros (around $162 million U.S.) during its fiscal second quarter, swinging from a loss during the same period last year but below the estimates of analysts. tively impacted margins at its Stop & Shop and Giant-Landover division. The company added that it took a $20 million charge during the quarter related to costs in restructuring

ZAANDAM, Netherlands -- Ahold here reported earnings of $130 million euros (around $162 million U.S.) during its fiscal second quarter, swinging from a loss during the same period last year but below the estimates of analysts.

tively impacted margins at its Stop & Shop and Giant-Landover division. The company added that it took a $20 million charge during the quarter related to costs in restructuring Giant-Landover's supply chain and closing four Super G stores.

In a conference call, Anders Moberg, chief executive officer, called competition in the Northeast corridor, where Giant and Stop & Shop operate, as "very aggressive, actually more aggressive than we've seen from Wal-Mart [against] Giant-Carlisle."