On February 15^th Ahold-Delhaize, with supermarket operations in the E.U. and the U.S. reported on FY 2022 ending January 1^st 2023.  Assuming an exchange rate of $0.93 with the Euro the Group attained a net income of $2,546 million on net sales of $93,531 million with a diluted EPS of $2.54.  Corresponding figures for FY2021 comprised a net income of $2,246 million on net sales of $81,291 million.  The Group achieved an operating margin of 4.3 percent in 2022 compared to 4.4 percent for 2021.

The U.S. segment attained net sales of $57,959 million, including online sales of $4,367 million.  The U.S. operations achieved an operating income of $2,605 million compared to $2,231 million, up 16.8 percent from 2021.  Operating margin was 4.5 percent, up from 4.1 percent during 2021.  Comparable sales growth was 6.8 percent, excluding gasoline, compared to 1.9 percent for 2021.

Ahold-Delhaize posted total assets of $49,152 million against long-term debt and lease obligations of $16,802 million.  The company operates 2,051 stores in the U.S. under the Food Lion, Stop & Shop, Hannaford, Giant, Pea Pod and other banners.  The E.U. operations comprise 5,404 stores including 1,125 specialty units.

The parent company provided FY 2022 guidance of a 4 percent minimum operating margin and low double-digit growth compared to 2021 with $2.5 billion for capital expenditures.

In commenting on results, Frans Muller, President and CEO, stated, “I am pleased to report a solid end to the year for Ahold Delhaize. Our strong international portfolio of local brands has continued to provide distinct competitive and societal advantages, particularly from our scale and solid financial position. In this challenging year, we have seen double-digit inflation levels not witnessed in 40 years, an energy crisis created by war and the ongoing effects of the global pandemic on people's lives. Our role during this time has been clear: keeping shelf prices as low as possible to support our customers and make healthy food options”

With respect to U.S. operations Muller stated "Comparable sales accelerated at all the banners, resulting in a growth rate of 9.3 percent in Q4. This was driven by strong holiday season activations. For example, the U.S. stores’ sales from loyalty programs and online orders reached all-time highs. This has been a trend we have seen building throughout the year, as our consistent investment in growing these capabilities continues to pay off. Our brands' customer relationship management campaigns are a good example, now reaching around 30 million households and delivering over 10 billion personalized offers annually. We are also increasingly encouraged by the progress we see at Stop & Shop, where the remodeled New York City stores are delivering double-digit sales growth and exceeding expectations. We plan to remodel a further eight stores in NYC in Q1 2023, and roll out key learning to 40 other stores in the fleet throughout the year.