By Michael Susin and Ian WalkerRoyal Ahold Delhaize shares fell in early trade after the company reported a third-quarter profit fall that missed consensus estimates, and despite announcing a new share buyback. It said that 51 Delhaize Belgium stores have now signed agreements with independent buyers and started transitioning the first stores to the new operators in October. Net sales came in at EUR21.93 billion compared with EUR22.41 billion and a consensus of EUR21.95 billion. Within this U.S. sales were up 0.5% at EUR13.625 billion, while European sales were 7.1% higher at EUR8.31 billion. Ahold Delhaize outlined a EUR1 billion share buyback program, scheduled to start at the beginning of 2024.

Source: Wall Street Journal November 08, 2023 10:47 UTC