SOURCE: Delhaize Group

May 07, 2008 02:00 ET

Delhaize Group Reports 4.9% Revenue Growth at Identical Exchange Rates in First Quarter of 2008

BRUSSELS, BELGIUM--(Marketwire - May 7, 2008) -

Financial Highlights First Quarter 2008

* Solid revenue growth: +4.9% at identical exchange rates

* Strong organic revenue growth of +5.4%

* Continued strong comparable store sales in the U.S. (+3.5%), continued improvement of comparable store sales growth in Belgium (+2.0%)

* Excellent revenue growth (+15.0%) and operating profit growth (+55.8%) in Greece

* Net profit from continuing operations increase of 4.6% at identical exchange rates

Other Highlights

* Confirmation of our 2008 earnings guidance

CEO Comments

Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: "In this increasingly uncertain economic environment, all of our operating companies have focused successfully on keeping their customers loyal to their stores, providing strong revenue growth in the first quarter. Our competitive pricing and growing private label offering in particular have been instrumental in assuring sales momentum. We continue to focus on many sales and cost efficiency initiatives that will have increased impact in the second part of the year and will allow us to continue to offer highly competitive prices and to support our profitability. We fully expect to emerge from the weaker economic environment an even stronger company than we are today".

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