Food Lion 2001 Annual Report Download - page 29

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ilience
Save-a-Lot discount stores and close the 19
Cub Foods supermarkets of Super Discount
Markets, its 60% joint venture in the
Atlanta market. The investment necessary
to be successful in the highly competitive
Atlanta market could not be justified, and
Delhaize Group decided to focus all its
U.S. initiatives on Delhaize America, since
April 2001 a 100%-owned subsidiary. As a
consequence, the Group has recorded an
exceptional charge for the closing of Super
Discount Markets in 2001 (see detail in the
Financial Review section).
Food Lion | During 2001, Food
Lion, the largest U.S. banner of Delhaize
Group, focused on organic growth.
Selective store openings and successful
sales initiatives in the existing stores
allowed Food Lion to continue to grow its
|27
1,157 1,207
97 98 99 00 01
Number of Stores
Delhaize America
1,276
1,420 1,459
ful acquisition of Hannaford the prior year. Delhaize America performed well in a period
a strategic review of its operations, Delhaize Group closed Super Discount Markets, its 60%
10.2 10.2
97 98 99 00 01
Sales Delhaize America
(in billions of USD)
10.9
12.7
14.9