Delhaize Group Posts Lower Q4 Profit - Update

Supermarkets operator Delhaize Group on Thursday reported a decrease in fourth quarter profit, hurt primarily by lower revenues due to high food deflation in the US. The quarter’s revenue decline also reflected price competition in the industry. For the fourth quarter, net earnings attributable to shareholders decreased 9.6% to EUR 134 million or EUR 1.34 per share from EUR 149 million or EUR 1.46 per share a year ago.