Food Lion 2003 Annual Report Download - page 2

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Pr o fi l e
Delhaize Group is a Belgian international food retailer operating
in ten countries on three continents. Delhaize Group is listed on
Euronext Brussels (ticker symbol: DELB) and the New York Stock
Exchange (ticker symbol: DEG).
At the end of 2003, Delhaize Group’s sales network consisted of
2,559 stores. In 2003, Delhaize Group posted EUR 18.8 billion in
sales and net earnings of EUR 171.3 million. Delhaize Group employs
approximately 142,000 people.
Delhaize Group seeks to achieve leading positions in food retailing
in key mature and emerging markets. This is accomplished through
strong regional companies benefiting from and contributing to the
Group’s strength, expertise and successful practices. Delhaize
Group goes to market with a variety of food store formats. The Group
is committed to offering a locally differentiated shopping experience
to its customers in each of its markets, to delivering superior value
and to maintaining high social, environmental and ethical standards.
Co n t en t
FINANCIAL HIGHLIGHTS 1
LETTER FROM THE CHAIRMAN AND THE CEO 2
OVERVIEW OF OPERATING COMPANIES 4
OUR STRATEGY 6
CONCEPT LEADERSHIP 8
EXECUTIONAL EXCELLENCE 10
A LEARNING COMPANY 12
CORPORATE CITIZENSHIP 14
OUR BUSINESS IN 2003 16
BUSINESS REVIEW* 18
> UNITED STATES 18
> BELGIUM 22
> SOUTHERN AND CENTRAL EUROPE 24
> ASIA 26
FINANCIAL REVIEW* 28
OPERATIONAL STATISTICS 36
FINANCIALS 37
FINANCIAL STATEMENTS 38
NOTES TO FINANCIAL STATEMENTS 43
10-YEAR OVERVIEW OF FINANCIALS 62
ADDITIONAL INFORMATION* 64
MANAGEMENT AND SHAREHOLDERS 67
MANAGEMENT STRUCTURE 67
CORPORATE GOVERNANCE* 70
SHAREHOLDER INFORMATION 73
GLOSSARY 76
* These chapters constitute the Directors’ Report.