Business

Online sales soar in 4th quarter for retailer Ahold Delhaize

Posted February 17, 2021 6:00 am

The Associated Press

THE HAGUE, Netherlands (AP) - Online sales at retailer Ahold Delhaize soared nearly 72% in the final quarter of 2020, the company said Wednesday, as the global pandemic forced many customers to shop from home.

Global net sales at the multinational that owns the Stop & Shop, Food Lion and Hannaford stores in the United States rose by nearly 13% to 19.6 billion euros ($23.7 billion).

The company recorded a 9 million euro net loss for the quarter, mainly due to previously announced U.S. pension plan withdrawal and settlement agreements totaling 841 million euros.

CEO Frans Muller paid tribute to staff for their work during the pandemic, which he said "created unprecedented challenges for the Ahold Delhaize brands."

The company said that the COVID-19 pandemic 'œcontinues to create significant uncertainty in 2021.'ť

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