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Delhaize Group Reports Strong Operating Profit Increase of 7.3% at Identical Exchange Rates in the First Quarter of 2009


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Copyright © Hugin AS 2009. All rights reserved.
2009-05-06 08:16:04 -


London, May , 06, 2009
+-------------------------------------------------------------------+
| Financial Highlights First Quarter 2009 (at identical exchange    |
| rates)                                                            |
|-------------------------------------------------------------------|
| » Revenue growth of 3.0% (13.2% at actual rates)                  |
|-------------------------------------------------------------------|
| » Comparable store sales growth of 2.0% in the U.S. and 1.7% in   |
| Belgium                                                           |
|-------------------------------------------------------------------|
| » Operating margin increases from 4.6% to 4.8% (4.9% at actual    |
| exchange rates)                                                   |
|-------------------------------------------------------------------|
| » Operating profit increase of 7.3% (20.2% at actual rates)       |
|-------------------------------------------------------------------|
| Other Highlights                                                  |
|-------------------------------------------------------------------|
| » Confirmation of 2009 earnings guidance                          |
+-------------------------------------------------------------------+


»  CEO Comments

Pierre-Olivier Beckers,  President  and Chief  Executive  Officer  of
Delhaize Group, commented: "We are  extremely pleased with the  solid
performance of all our operating  companies in the current  difficult
environment. We generated positive comparable store sales growth  and
supported our margins on both sides of the Atlantic through  targeted
price management, the continued growth of private brand revenues  and
improved inventory  management. In  particular, our  ability to  grow
market share in Belgium in this difficult environment is a clear sign
that our price repositioning is bearing fruit. "

"We are on target with our plans to improve our cost structure by EUR
100 million  and  to  generate  EUR 50  million  in  working  capital
improvements  this  year.   This  will   significantly  enhance   our
flexibility  to   reinvest   in   our  business   and   support   our
profitability. While we remain cautious for the rest of the year as a
result of the  global economic uncertainty,  our solid first  quarter
performance and  our plans  for the  rest  of the  year, lead  us  to
confirm our 2009 guidance."

»  Contacts
     Guy Elewaut: + 32 2 412 29 48
       Geert   Verellen:   +   32   2   412   83   62

     Aurélie Bultynck: + 32 2 412 83 61
     Amy Shue (U.S. investors): +1 704 633 82 50 (ext. 2529)
     Barbera Hoppenbrouwers (media): + 32 2 412 86 69

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