Ahold reports better than expected sales with consolidated net sales of EUR 5.8 billion for the third quarter of 2008. Compared to the third quarter of 2007, net sales increased by 3.9% and increased by 7.6% at constant exchange rates.

The Dutch company, which makes more than half of its revenues in the US, began rebranding, introducing own labels and sacrificing some margins to boost sales at its three chains of US supermarkets some two years ago to draw in customers.

"In reply to the turbulent economic environment, our continued focus on bringing value to our customers led to a solid performance. We remain vigilant and will respond to any changes in consumer and competitor behaviour," said an Ahold spokesperson.

In the USA net sales increased 4.4 per cent to USD 3.9 billion. Identical sales increased 4.6 per cent at Stop & Shop (3.8 per cent excluding gasoline net sales) and increased 0.7 per cent at Giant-Landover (0.6 per cent excluding gasoline net sales), impacted by lower pharmacy sales.
Comparable sales increased 4.8 per cent at Stop & Shop and one per cent at Giant-Landover.

In the Netherlands, its domestic Albert Heijn supermarkets also continued to perform well, with a 12.2 per cent increase in net sales to €2bn for the quarter, which represented an 8.3 per cent increase in like-for-like sales.