Grocery retailer Ahold Delhaize reported first quarter (Q1) 2026 net sales of €22.3bn ($26bn) and maintained its full-year guidance, supported by growth in online operations and steady performance in the US market.
Net sales fell 4.3% at actual exchange rates in the quarter, although they increased 2% at constant exchange rates.
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Net income edged down to €552m from €554m a year earlier.
Operating income rose to €895m from €880m while diluted earnings per share and diluted underlying earnings per share were both €0.62.
Comparable sales excluding petrol increased 2% overall, with US comparable sales excluding petrol rising 1.5% and Europe recording growth of 2.6%.
The company said changes to pharmacy pricing linked to the Inflation Reduction Act, egg price deflation and decreased Supplemental Nutrition Assistance Program (SNAP) benefits reduced US comparable sales growth by 1.9 percentage points during the quarter.
Weather conditions and calendar timing contributed 0.4 percentage points to US comparable sales growth.
Online sales grew 8.3% at constant exchange rates and 2.9% at actual exchange rates, driven by 14.3% growth in the US business.
European online sales increased 3.3%, supported by growth at Albert Heijn and Delhaize Belgium.
In the US, underlying operating margin increased to 4.6%, supported by sales leverage, a favourable pharmacy mix and reduced egg costs.
In Europe, underlying operating margin declined 0.1 percentage points to 3.4% because of pricing interventions in Serbia, partly offset by synergies and a lower turnover tax rate in Romania.
Ahold Delhaize president and CEO Frans Muller said: “Our solid first quarter results are a testament to the strong foundation we have established with our Growing Together strategy.
“We have a clear focus on what matters most to customers, associates and all our stakeholders – creating value every day.”
Ahold Delhaize reaffirmed its 2026 guidance, including an underlying operating margin of around 4% and mid- to high-single-digit growth in diluted underlying earnings per share at constant exchange rates.
The retailer also revised its expectations for the impact of the Inflation Reduction Act, saying it now anticipates a negative effect of $450m on reported and comparable US store sales in 2026, with no material impact on underlying operating income.
The company added that the acquisition of Delfood, completed on 2 February 2026, is expected to contribute more than €200m in net sales to its European segment.
