Dive Brief:
- Delhaize reported fourth quarter 2014 earnings, which included a revenue increase of 11.4% to $6.5 billion with the addition of a 53rd trading week.
- This brought Delhaize's total 2014 revenues up to $24.1 billion, including the 53rd week of trading, for an increase of 3.7%.
- In the U.S., Delhaize's revenues rose 12.1% to $4.7 billion, including the 53rd trading week.
Dive Insight:
To continue this positive trend, Delhaize has big plans for 2015. "Our focus will be to further roll out the Easy, Fresh and Affordable [store renovation] strategy at Food Lion and to implement the Transformation Plan [to increase efficiency and lower costs] in Belgium, both initiatives focused on the customer," says Delhaize President and CEO Frans Muller. "We will also seek to accelerate growth in selected markets. Finally, we will continue to be disciplined with respect to operating costs, capital allocation and working capital."
This boost in revenue came after Delhaize reported a sag in earnings everywhere except the U.S. last quarter and sold 66 Bottom Dollar stores in the northeastern U.S. to German discount grocery chain Aldi.