Hannaford sales surge during Market Basket feud
Sales at Scarborough-based Hannaford Supermarkets increased by $100 million during this year’s third quarter, and its parent company says competitor Market Basket is to thank.
Belgium-based Delhaize Group said in last week’s earning call that strong sales were a result of customers leaving the previously feuding Massachusetts-based supermarket for the approximately 30 Hannaford stores that overlap with Market Basket, the Boston Herald reported.
Market Basket suffered multimillion-dollar losses because of a six-week employee protest of the company’s decision to fire CEO Arthur T. Demoulas, who was later reinstated and reached an agreement to buy Market Basket’s remaining shares for $1.5 billion.
Pierre Bouchut, Delhaize Group’s CFO, said while overall sales spiked, Hannaford also incurred extra costs because of the need to hire extra workers.
Hannaford’s same-store sales grew 5.3%, and total revenue grew 5.9% to $4.66 billion in the company’s third quarter, the Boston Herald said.
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