Retail in brief | Phoenix, Ahold Delhaize

Retail in brief | Phoenix, Ahold Delhaize

24 June 2020 - Deborah Wilkes

Phoenix has reported financial results and Ahold Delhaize has appointed a new chairman.

Latest financial results from Phoenix

Germany’s Phoenix reported sales up by 10.5% to EUR7.24 billion (USD8.13 billion) in the three months ended 30 April 2020. The wholesaler and retailer said the COVID-19 pandemic had increased demand for pharmaceuticals and health products, particularly in March 2020.

After adjusting for currency translations, the rise was 11.5% compared to the same period a year earlier.

Phoenix said its total operating performance – comprising sales and handling for service fee – had risen by 10.9% to EUR9.22 billion. Adjusted for currency translations, the rise was 12.0%.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 19.7% to EUR169 million.

New chairman at Ahold Delhaize

Ahold Delhaize has appointed Peter Agnefjäll as chairman of its Supervisory Board with effect from 1 January 2021.

Agnefjäll was president and chief executive officer of IKEA from 2013 to 2017. He has been a member of Ahold Delhaize’s Supervisory Board since April 2019.

The current chairman, Jan Hommen, will retire at the end of 2020 after nearly two decades with the company.

To allow for a smooth transition, Agnefjäll has been made vice chairman with immediate effect.

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