Dive Brief:
- In its Q4 and fiscal year 2014 earnings, Delhaize Group reported a net loss for the fourth-quarter at 55 million euros, below last year's net income of 104 million euros.
- Excluding the 53rd week of trading, the company reported a 2.1% decrease in underlying operating profit at identical exchange rates and an underlying operating margin of 3.6%.
- On a more positive note, Delhaize had reported revenues and preliminary results for Q4 and fiscal year 2014 back in January, which included a revenue increase of 11.4% for Q4 2014 and 3.7% for full-year 2014, including a 53rd week of trading.
Dive Insight:
Delhaize has been in the headlines this past year, and that hasn't always been a good thing. Back in January, Delhaize America was approved by the FTC to sell off 154 stores to Bi-Lo, and its supermarket chain Bottom Dollar Food closed all 66 of its stores, selling the locations and leases to Aldi. Back in December, Food Dive called Delhaize's CEO Kevin Holt one of the "four new CEOs with their work cut out for them in 2015," and so far, that appears to be true.
Delhaize America's chain Hannaford Supermarkets will also be without its president Brad Wise on June 30 as he is retiring, and he will be replaced by Michael Vail, chief merchant and supply chain officer for Delhaize America.