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Ahold Delhaize loses 787 million euros in market value in one day due to IT crisis

Ahold Delhaize loses 787 million euros in market value in one day due to IT crisis

Parent company Ahold Delhaize lost 787 million euros in market value in one day due to a major IT crisis impacting its retail chains. The technical disruption has caused logistics issues and empty shelves, though the company says it is working to resolve the situation.

Ahold Delhaize, the parent company of Albert Heijn, has faced significant financial losses following a major IT crisis that disrupted operations across its retail chains, including Etos, Delhaize, and Stop&Shop. The company saw its market value drop by 787 million euros in a single day on the Amsterdam stock exchange, as share prices fell by 2.8 percent. The ongoing technical issues have caused logistics disruptions, leading to empty shelves and the suspension of home delivery services for customers. While the company is working to resolve the incident, investors remain cautious pending further developments.

Although the current financial hit is substantial, it remains smaller than historical crises the company has faced. In 2003, Ahold lost 10 billion euros in market value in one day following a significant accounting scandal, which eventually led to the resignation of its CEO. While the current cyber incident has sparked concern, Ahold Delhaize has experienced larger market corrections in the past that were eventually recovered over time.

Based on reporting by ad. Translated and condensed by LocalHeadlines.

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