€0.9 billion
26
Group performance continued
Properties
-
Total
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Financials
Investors
At the end of 2011, we operated 3,008 stores, a net increase of 38 stores. Total sales area
increased by 1.9 percent to 4.6 million square meters. This includes franchise stores and
excludes the stores operated by our joint ventures ICA and JMR.
January 2,
Opened
Closed
January 1
2011
Acquired
Sold
2012
Ahold USA
751
17
12
756
The Netherlands1
1,914
46
14
1,946
Other Europe
305
1
306
Total
2,970
64
26
3,008
1 The number of stores as of January 12012 includes 1,090 specialty stores (Etos and Gall Gall).
Franchisees operated 801 Albert Heijn, Etos, and Gall Gall stores, 485 of which were either
owned by the franchisees or leased independently from Ahold. Of its total 3,008 stores, Ahold
leases or owns 2,523 stores, 21 percent of which were company-owned and 79 percent of which
were leased (66 percent under operating leases and 13 percent under finance leases and
financings). Ahold's stores range in size from 20 to 10,000 square meters. The average sales
area of our stores in the United States is approximately 3,800 square meters and in Europe
approximately 1,300 square meters (excluding Etos and Gall Gall, which operate much
smaller stores).
Our leased properties have terms of up to 25 years, with renewal options for additional periods.
Store rentals are normally payable on a monthly basis at a stated amount or, in a limited number
of cases, at a guaranteed minimum amount plus a percentage of sales over a defined base.
We also operated the following other properties as of January 12012:
Warehouses distribution centers production facilities offices
Properties under construction development
Investment properties
83
34
717
834
Capital expenditures
Of these other properties, 41 percent were company-owned and 59 percent were leased
(52 percent under operating leases and 7 percent under finance leases and financings).
The 717 investment properties consist of buildings and land. Virtually all these properties were
subleased to third parties. The majority were shopping centers containing one or more Ahold
stores and third-party retail units generating rental income.
Capital expenditures, which include new finance leases, amounted to €0.9 billion in 2011 and
€1.1 billion in 2010 and were primarily related to the construction, remodeling, and expansion of
stores and supply chain and IT infrastructure improvements. In 2010, capital expenditures also
included the acquisition and subsequent remodeling of the Ukrop's and Shaw's stores as well as
significant investments related to Project Refresh, the three-year investment plan announced
in October 2007 to remodel or replace approximately 100 Giant Landover stores, which was
completed in 2010.
