Delhaize Group SA, the Belgian food retailer that gets 64 percent of revenue from the U.S., rose to an 11-month high in Brussels as a decline in net debt eased concern the company may lose its investment-grade credit rating.
D’Ieteren SA, the Belgian owner of the world’s largest vehicle-glass replacement company, fell to the lowest level in 2 1/2 years in Brussels trading after reporting a larger-than-estimated drop in first-quarter earnings.
D’Ieteren SA plummeted the most in more than 16 months in Brussels trading after the owner of the world’s largest vehicle-glass repair company warned that earnings will drop at least 10 percent in 2013 after a deeper- than-projected slide this year.
Delhaize Group SA, the owner of the Food Lion supermarkets, fell to the lowest value in more than three years in Brussels after saying margins will shrink again this year on U.S. price cuts and Bottom Dollar Food store openings.
Colruyt NV, Belgium’s biggest discount food retailer, rose the most in 12 years in Brussels trading after reporting a surprise increase in profit amid heightened price awareness among Belgian consumers.
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.