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Delhaize to Step Up New Store Growth
On the heels of posting its best U.S. annual comparable-store sales gains in a decade, Delhaize Group here will step up store growth in fiscal 2008, particularly in its Food Lion division, the retailer said Thursday.
1 Min Read
JON SPRINGER
BRUSSELS — On the heels of posting its best U.S. annual comparable-store sales gains in a decade, Delhaize Group here will step up store growth in fiscal 2008, particularly in its Food Lion division, the retailer said Thursday. Delhaize said it would spend around $750 million in capital expenditures in the U.S. in fiscal 2008, with plans to build between 50 and 55 new stores, including 45 in its Food Lion division, which includes the Food Lion, Bottom Dollar, Bloom and Harveys banners. Delhaize opened 32 new Food Lion units in 2007. Delhaize also said it would build seven new Hannaford stores (same as in 2007) and four Sweetbay stores (vs. five last year). Also Thursday, Delhaize said annual U.S. sales in 2007 improved by 5.1% to $18.2 billion, with a 3.8% comp increase it called its best in more than 10 years. Sales for the fourth quarter increased 5.1% to $4.6 billion, supported by market-renewals at Food Lion, pricing and innovation at Hannaford, and revenue growth in “most” Sweetbay locations.
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