AMSTERDAM — Ahold here last week said sales at its Stop & Shop and Giant of Landover division were up 1.9% in the third quarter, to $4 billion, as comparable-store sales rose 0.6% at Stop & Shop and 2.7% at Giant-Landover.
The company said it had volume growth in all markets, but sales were impacted by deflation and trading down by customers, “while increased promotional activity continued, especially in the United States.”
Identical-store sales rose 0.2% and 2.3% at Stop & Shop and Giant of Landover, respectively (0.7% and 1.5% excluding gasoline). At Giant of Carlisle, sales were up 0.8%, to $1.1 billion. IDs fell 1.5% (a 1% gain excluding gasoline), and comps were down 0.1%. Total company sales grew 4.3%, to about $9 billion U.S. (up 2.6% at constant exchange rates.)
Matthew Truman, a London-based analyst with Nomura Securities, said it was encouraging that product volumes and market shares were growing in the U.S., despite the drag on top-line sales caused by deflation.
“This should leave Ahold well positioned as we move out of the deflationary period, which should be [in] weeks not months, with strong market share gains and an improved leading position in its key store catchment areas,” he said in a research note last week.