Ahold Delhaize tops profit forecasts on resilient US performance

Ahold Delhaize reported first-quarter results on May 6 that topped profit forecasts, helped by resilient performance in its U.S. grocery business.

Reuters reported that underlying operating income came in at 896 million euros, above the 858 million euro analyst consensus. The company said U.S. business strength helped offset the negative effect of a weak dollar.

The retailer also said first-quarter sales rose 2% at constant exchange rates, though reported sales fell 4.3%. In the United States, comparable sales excluding gasoline increased 1.5%.

The results are the latest sign that large grocery chains can still rely on steady consumer demand even as currency moves and broader cost pressures weigh on reported figures.

Ahold Delhaize published its quarterly results early on May 6 and had previously said it would release them that day. Investors will now watch for management commentary on the rest of the year and whether the U.S. momentum continues.