Delhaize Reiterates H2 Profit Forecast

Delhaize has reiterated that it expects profit growth in the second half of the year, and maintained full-year forecasts.

 Delhaize expects EBIT to grow by 6 to 8% this
year, and revenues to grow by 4 to 5.5%, based on constant exchange
rates of $1.3705 to the euro.
CEO Pierre-Olivier Beckers
said, "The situation in the first quarter has continued into the
second so far. We have said profit growth will come in the second
half." The retailer reported a worse-than-expected fall in
first-quarter EBIT, due to the weaker dollar and higher input costs.
Beckers said Delhaize was still managing to pass on inflationary
rises to customers, except in Belgium and at its US Sweetbay chain.

In Belgium, Delhaize says its prices are now on par with those of
Carrefour's local stores, adding that the gap with main rival Colruyt
has narrowed sharply. However, it has admitted that it still has to
fight a perception of being more expensive. It said that the
expansion of its private label line has helped, especially in the US,
as consumers trade down. Beckers noted, "Long term we are very
happy with this".