Delhaize To Open Four Match Stores Per Year In Hungary

Delhaize Group operates Match, Cora and Profi chains in Hungary, with 7, 123 and 74 stores, respectively. Their combined sales in 2007 amounted to nearly HUF 220 bn.

Speaking at the closing ceremony of The French Economic Year in Hungary, Roussel told local newswire MTI on Thursday that growth this year is likely to be subdued.

Purchasing power is diminishing and competition is fierce in Hungary, he said, adding that the solution could lie in innovation and offers that meet customer demand. To this end, Match will adjust its product offering to local needs, instead of offering a unified set of goods.

Delhaize Group

Delhaize Group is a food retailer headquartered in Belgium which operates in 7 countries. Delhaize Group was founded in Belgium in 1867. The principal activity of Delhaize Group is the operation of food supermarkets in North America, Europe and Southeast Asia.

As of December 31, 2007, Delhaize Group had a sales network (which includes directly operated, franchised and affiliated stores) of 2,545 stores (vs. 2,705 in 2006) and employed approximately 137,800 people (vs. 142,500 in 2006).

Store formats are primarily supermarkets, which represent 85% of Delhaize Group's sales network. The group's sales network also includes other store formats such as neighbourhood stores, convenience stores and specialty stores.

In addition to food retailing, which accounts for about 95% of Delhaize Group's sales, Delhaize Group also engages in food wholesaling to stores in its sales network and in non-food retailing of products such as pet products and health and beauty products.

In 2007, Delhaize Group recorded sales of EUR 18.96 billion, down from EUR 19.22 bn in 2006, and net income of EUR 410.1 million, up from EUR 351.9 m in 2006.

Delhaize Group's operations are located primarily in the United States, Belgium and Greece. Its other operations are located in Romania and Indonesia."

Source: Portfolio Online Financial Journal