Delhaize Group, the owner of the U.S. Food Lion supermarkets, reported third-quarter earnings that missed some estimates as lower prices in stores weren’t matched by supplier allowances or cost cuts and sales fell in Serbia.
Delhaize Group, the owner of the Food Lion supermarkets, rose to a two-year high in Brussels trading after second-quarter earnings showed that cost savings and better supplier terms are outweighing price cuts in the U.S.
Delhaize Group SA, the owner of the U.S. Food Lion stores, rose the most in almost 3 1/2 years after price cuts lured back shoppers, driving revenue growth in more than a third of the Food Lion network.
Delhaize Group SA, the owner of the U.S. Food Lion supermarkets, fell the most in 16 months in Brussels trading after reporting sales that missed analysts’ estimates and saying it will close 146 unprofitable stores.
European stocks were little changed as Vodafone Group Plc led telecommunications shares higher and as investors waited for a U.S. Senate committee to vote on a resolution enabling President Barack Obama to attack Syria.