Delhaize pulling out of the Czech Republic

09-11-2006

The Belgian supermarket chain Delhaize is selling all of its 96 Delvita supermarkets in the Czech Republic and leaving the country. The supermarket chain said Thursday its net profit had more than halved in the third quarter mainly due to its Czech business, which had prompted the decision to sell. Company chief executive Pierre-Olivier Beckers said the divestment would allow Delhaize to focus on higher opportunity markets."