date:Jun 12, 2014
urprise. The size of the restructuring is however much larger than anticipated, Bank Degroof analyst Hans D'Haese wrote in a note to clients.
Delhaize's shares rose as much as 1.7 percent to a two-week high after the announcement.
The group said wage and benefit costs were 16 percent higher than at Colruyt and 33 percent higher than at Dutch chain Albert Heijn, which only recently entered the Belgian market and now has 20 stores in the north of the country.
New entrant Albert Heijn has a comp