A Haze of Darkness Covers Supermarkets (NYSE:DEG)

Belgian supermarket company Delhaize (NYSE: DEG) which also trades on the Brussels exchange under symbol DELB fell almost 10% in today's trading. The company, which gets about 70% of its revenues from the United States is planning to cut jobs and close stores, on an earnings miss. Delhaize's operates less popular locations in 16 states, which includes Harvey's, Bottom Dollar Foods, Hannaford Supermarkets, Reids, and Sweetbay. The 1600 stores in the US are performing decently, however they are commodity stores that seem to lack innovation as competitors are sweeping across the country leaving other supermarkets hazed. Whole Foods (WFM) for example is innovating on the basis of healthier and organic food, and may be stealing market share left and right. Delhaize's earnings were on the hazy side as the company missed revenue estimates of 5.68 billion euros and only made 5.64 billion euros in sales. The company plans to cut 5000 jobs and close 113 under performing stores.