Ahold Reports Stellar Q2 Across the Board and Raises Free Cash Flow Outlook; Bol.com IPO Postponed

Koninklijke Ahold Delhaize released first-half results that included net sales up 11.7% to EUR 41.2 billion (up 5% at constant exchange rates), with the second-quarter top and bottom lines surprising on the upside. More specifically, net sales were ahead of the company-compiled consensus (EUR 21.445 billion versus EUR 21.035 billion) with underlying operating income of EUR 880 million ahead of the EUR 815 million company-compiled consensus. Comparable sales growth was 6.4% and 1.8% for the United States and Europe, respectively, versus 4.4% and 0.8% estimates for company-compiled consensus.