Charge Nicks Ahold's Profits

The continuing recovery at Stop & Shop and Giant-Landover highlighted a strong first-quarter performance at Ahold, although a charge for lease guarantees at former chains Bi-Lo and Bruno's sank net earnings, the retailer here said last week. Net income in the first quarter, which ended April 19, was down 25% to about $271.6 million, mainly as the result of a one-time charge of $91 million

AMSTERDAM — The continuing recovery at Stop & Shop and Giant-Landover highlighted a strong first-quarter performance at Ahold, although a charge for lease guarantees at former chains Bi-Lo and Bruno's sank net earnings, the retailer here said last week.

Net income in the first quarter, which ended April 19, was down 25% to about $271.6 million, mainly as the result of a one-time charge of $91 million to cover lease obligations at Bi-Lo and Bruno's, the former Ahold chains n

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