Delhaize Posts Loss In Q3, Backs Full Year View - Quick Facts

(RTTNews) - Belgian food retailer Delhaize Group (DEG) Thursday reported group share net loss of 87 million euros or 0.85 euros per share for the third quarter compared to a profit of 189 million euros or 1.87 euros per share last year.

In the third quarter, Delhaize Group's revenues declined 0.5 percent at actual exchange rates to 5.339 billion euros from 5.369 billion euros in the previous year. But revenue increased 2.9 percent at identical exchange rates and organic revenue growth was 3.1 percent.

The company confirmed its annual outlook of underlying operating profit of at least 755 million euros at identical exchange rates compared to 785 million euros in 2012 and free cash flow of approximately 500 million euros.

Pierre-Olivier Beckers, CEO, , said: "We delivered solid results in the U.S. during the third quarter. Food Lion continued to show good momentum as reflected in the fourth consecutive quarter of positive volume and comparable store sales growth. At Hannaford, we experienced similar positive trends supported by further price investments since the second quarter."