Royal Ahold NV Chief Executive Officer Dick Boer said consumer sentiment in Europe and the U.S. is “good’’ with shoppers continuing to buy the company’s budget and higher-priced private-label items.
“We all know in Europe and the U.S. we have an economy quite under pressure and consumers are always reacting,’’ Boer said in an interview on the sidelines of a consumer goods forum in Barcelona. Still, “we are a retailer selling food so that’s a good thing.’’
The retailer doesn’t expect changes in demand for its private-label items, with shoppers purchasing a variety of products, including its lowered-priced “guaranteed value” range and top-tier products in the U.S., he said. The Amsterdam- based grocer reported net income that beat estimates earlier this month as a later Easter holiday boosted earnings in the U.S., where the company owns the Stop & Shop and Giant Landover chains.
The executive wouldn’t comment on potential acquisition plans.
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