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January 17, 2013
08:44 EDTDEGDelhaize Group reports Q4 revenue EUR5.76B vs. EUR5.63B a year ago
Says based on preliminary unaudited figures, expects 2012 Group underlying operating profit to decrease by approximately 17.5% compared to 2011, in line with guidance issued in May 2012 of a decline in underlying operating profit between 15 and 20%. Says Q4 comparable store sales were flat and volume growth turned positive for the quarter, as a result of the Food Lion brand repositioning and better volume trends at Hannaford. Delhaize Group sees incurring a total of approximately EUR390M of non-recurring charges split between Q4 and the 1Q13 as the result of goodwill and other impairment charges and store closures. The incremental cash charge of this amount will be less than EUR20M.
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