Ahold Delhaize: Margin Pressure Materializing

Summary of Key Points Core Viewpoint - Shareholders of ADRNY were rewarded with buybacks and dividends totaling €2 billion, despite an unexpected material appreciation in stock price during the tariff relief rally [1]. Group 1: Financial Performance - The total amount returned to shareholders through buybacks and dividends was €2 billion [1]. Group 2: Market Reaction - The stock price of ADRNY appreciated significantly during the tariff relief rally, which was contrary to initial expectations [1].