Ahold Delhaize slips after peer Albertsons' dim outlook

Shares in Dutch retailer Ahold Delhaize AD.AS slip 2.6% after its U.S. peer Albertsons ACI.N forecast tepid annual sales due to a disruption in SNAP benefits and expectations of lower drug prices

Albertsons shares closed down around 6% in New York on Wednesday

The read-across is negative due to drifting grocery volume momentum, a lowering in U.S. drug prices, rising price competition, shrinking valuations in the sector and poor investor sentiment, J.P. Morgan says

It expects Ahold Delhaize's U.S. net sales to account for almost 60% of total sales in FY 2025

The broker reiterates a negative stance on the company and places it on its negative catalyst watch

The Amsterdam-listed stock is on track for its worst day since early July and touches its lowest price since mid-April - LSEG data