AMSTERDAM (dpa-AFX) - Dutch supermarkets and eCommerce company Ahold Delhaize N.V. (ADRND.PK, AHODF.PK) said it expects 11-day strike at its Stop & Shop Supermarkets in the U.S to hurt its full-year earnings.
The company, however, said the first quarter results, to be released on May 8, are not impacted and will be in line with expectations.
The retailer said it reached a tentative agreement with five local unions, that will lead to employees back at work on Monday. The strike had affected 246 Stop & Shop stores.
For the full year, Stop & Shop now expects a one-time impact on its underlying operating profit of $90 million - $110 million, as a result of the strikes.
Ahold Delhaize also cut its 2019 underlying earnings per share growth outlook to low single digits from high single digits. It now anticipates underlying operating margin slightly lower than 2018.
Copyright RTT News/dpa-AFX