I reported earlier this week that Delhaize and its American Banners would launch a better for you Private Brand called My Essentials on Thursday Delhaize officials confirmed the decision stating that the changes would begin arriving at Food Lion, Bloom, Bottom Dollar, Hannaford, Sweetbay, Harveys and Reid’s stores in the second quarter. Additionally officials promised more price investments and a “revised strategy” for its Food Lion chain during 2011.
“We’re looking at our revised strategy for Food Lion and we believe that price is a very, very important element of this brand and we need to strengthen that price in those markets we are piloting,” said Ron Hodge, CEO of Delhaize America, said.
Changes will look to capitalize on improving sales trends at Food Lion during the second half of 2010 and improve its competitive standing in particular markets, officials said in a conference call discussing fourth quarter and fiscal year financial results.
Delhaize posted quarterly sales of $4.7 billion, a 0.1% increase, with comparable-store sales down by 0.8%. For the fiscal year, Delhaize posted $998 million in operating profits on $18.8 billion in sales. Sales were down by 1% for the year, and profits fell by 1.8%.