Ahold Cautious in Outlook for 2014

Koninklijke Ahold N.V. (AH.AE) said Wednesday that it hasn't seen a change in market conditions during the first few months of 2014 and is cautious in its outlook for 2014.

Speaking to shareholders at the annual general meeting, Chief Executive Officer Dick Boer said that by the end of 2014 the company will have remodeled nearly half its stores.

"We have already rolled out a new format to over half of our Gall & Gall stores and will continue this year," he said.

The Amsterdam-based retailer said it will operate at least 200 U.S. pick-up points by the end of the year and will be opening a new warehouse in New Jersey this summer that will enable Peapod to double its capacity in 2014 and pursue the opportunities for growth in the New York Metro area.

"We will keep delivering on our reshaping retail strategy with all our energy and speed. We will focus on the implementation of our omni-channel strategy. We will also continue to simplify how we operate so we can reduce costs and invest in our customer proposition,", Mr. Boer said.

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