Closures Expected to Boost Profits
Delhaize said it would take a charge of around $520 million (U.S.) to earnings, most in the fourth quarter, to cover store closure costs as well as impairment charges at its Maxi banner in Europe. The elimination of the money-losing stores is expected to provide a $40 million benefit to underlying profits annually, officials said. Food Lion stores set to close in mid-February include four in Virginia, two in South Carolina and one in North Carolina. The three Bottom Dollar closures are ...
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