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Delhaize continues expansion in 2009
Belgium
Tuesday 03 February 2009
Delhaize repeated its 2008 forecasts and announced capital spending of 600-620 million euros for 2009.
The Belgium-base retail group is set to open between 71 and 81 new stores this year, in the wake of positive 2008 sales growth.
Delhaize's fourth-quarter growth was above the 5.6 percent for the year as a whole, but it described an "uncertain economic environment" and unveiled plans for 100 million euros of cost savings in 2009, some of which it will invest in lower prices.
Delhaize, makes about 70 percent of its revenues in the United States, with chains like Food Lion and Hannaford.
During 2008, Delhaize achieved overall revenues of €19bn, which it said represented an increase of 5.6 per cent compared with 2007 on identical exchange rates.
Delhaize, makes about 70 percent of its revenues in the United States, with chains like Food Lion and Hannaford.
During 2008, Delhaize achieved overall revenues of €19bn, which it said represented an increase of 5.6 per cent compared with 2007 on identical exchange rates.
