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Stop & Shop Expansion to Proceed.

Knight Ridder/Tribune Business News

| February 28, 2003 | COPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

By Lisa Biank Fasig, Providence Journal, R.I. Knight Ridder/Tribune Business News

Feb. 28--Stop & Shop yesterday said that it does not plan to pull back on its expansion plans or change any of its operations as a result of a $500-million earnings overstatement at its sister business, revealed by its parent this week.

The parent, Dutch food giant Royal Ahold NV, meanwhile, said yesterday that it does not expect an additional material impact on earnings as a result of investigations into its Argentinian subsidiary.

That news buoyed Ahold's stock, lifting it almost 32 percent on European trading. Still, shares are still down more than 60 ...

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Source: HighBeam Research, Stop & Shop Expansion to Proceed.