This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Higher Revenues Boost Delhaize's Earnings

Stocks in this article: DEG

Once these most recent quarterly results are finalized, they will be run through Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit Ratings Screener.

On March 12, 2009, Delhaize Group (DEG) recorded 30.6% growth in its Q4 FY08 earnings on higher revenue. Earnings increased to EUR 149.00 million or EUR 1.46 per share from EUR 114.10 million or EUR 1.12 per share a year ago. Net income from continuing operations surged 34.8% to EUR 163.40 million or EUR 1.55 per share.

Q4 FY08 revenue grew 15.8% to EUR 5.42 billion from EUR 4.68 billion a year ago, driven by the appreciation of the U.S. dollar against the euro. An additional week in the quarter also contributed to the increase. Excluding the impact of the extra week and exchange rate movements, revenue advanced 4.4% year-over-year. Additionally, organic revenue growth was 3.9%, reflecting comparable store sales growth of 2.9% in the U.S. and 2.7% growth in Belgium. Segment-wise, sales in the U.S. and Belgium grew 21.1% and 1.7% to EUR 3.82 billion and EUR 1.16 billion, respectively. Sales in Greece and the rest of the world jumped 12.7% and 25.4% to EUR 378.40 million and EUR 56.80 million, respectively.

At the end of the quarter, DEG had a total of 2,673 stores compared to 2,545 stores during Q4 FY08. In January 2009, DEG issued $300.00 million Senior Notes at 99.667% of their principal value, with an annual interest rate of 5.875% and maturing in 2014.

Revenue for FY08 inched up 0.4% to EUR 19.02 billion from EUR 18.94 billion in the previous year, supported by one additional week and organic revenue growth, which was offset by unfavorable exchange rates. Earnings improved 13.9% to EUR 467.10 million or EUR 4.59 per share from EUR 410.10 million or EUR 4.04 per share, fueled by lower finance costs.

Looking ahead to FY09, at identical exchange rate and excluding the 53rd week in FY08, Delhaize Group expects operating profit growth of 3.5% to 6.5%. DEG plans capital expenditures of approximately EUR 600.00 million to EUR 620.00 million.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,085.67 +55.46 0.31%
S&P 500 2,089.96 +8.08 0.39%
NASDAQ 4,797.3820 +23.91 0.50%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs