ID NEWS: Ahold, USF quarter sales drop anticipated

Royal Ahold, Zaandam, The Netherlands, is expected to report a weak sales performance on Friday, when it releases second quarter results, according to Reuters. Analysts told the news organization they expect sales to decline 10-13% to $15.3 billion.
U.S. Foodservice (USF), Columbia, MD, Ahold's American broadliner subsidiary, is expected to be down, analysts said, as a result of an "exodus" of customers. Loss of customers would presumably have been triggered by negative publicity resulting from the discovery of overstated profits first reported in February. The USF accounting scandal constituted the bulk of Ahold profit overstatements of some one billion euros overall.


More from our partners