Ahold announced its U.S. Foodservice unit, the bulk food distributor where most of the accounting fraud took place, will reorganize into two divisions.
The net loss compares to a loss of €134 million a year earlier at Ahold, one of the world's 10 largest retailers and known in the U.S. for the Stop & Shop and Giant chains. Sales were flat at €10.2 billion ($12.0 billion).
"Excluding the effect of this settlement, our performance improved in this quarter, despite the fact (that) the retail environment remains challenging," CEO Anders Moberg said.
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