Therefore, the material impact of currency fluctuations related to procurement is minimal. Concerning currency translations, there are certain exchange risks but at Ahold these are largely accounting issues, since the earnings are entirely reinvested into the local operating companies. It s said that mega players like Ahold are damaging the business of small shopkeepers. A The number of independent small shopkeepers is decreasing due to, for example, changing market structure and consolidation. Ahold's supermarkets attract many customers to the area every week.
Proximity can therefore be beneficial.
A Ahold plans to double its size between 1999 and 2002. In fact, it now looks as if we will reach that goal by the end of 2001. Our 2001 sales are expected to total approximately euro 65 billion, excluding currency fluctuations and eventual acquisitions. We anticipate that further consolidation will occur but at a somewhat slower rate than in previous years. Our local customers will remain our focus, and we will still be working hard to ensure they feel at home in our stores and that they are offered the products they really want.