PREVIEW-Ahold, Tesco to highlight growth ambitions

* Ahold Q3 results due Nov. 18

* Q3 operating profit seen up 3.4 pct, cost cuts expected * Tesco retail services seminars on Nov. 19-20

* Morrison Q3 sales due on Nov. 19

By Mark Potter

LONDON, Nov 13 (Reuters) - Britain's Tesco (TSCO.L) and Dutch group Ahold (AHLN.AS), two of Europe's biggest retailers, will highlight their long-term growth ambitions next week in moves that analysts say could boost share ratings.

Ahold, which makes about 60 percent of its sales in the United States, is expected to unveil a cost-cutting plan which analysts think could be worth up to 500 million euros ($744 million) over three years.

The group, which reports third-quarter results on Wednesday, will also come under pressure to spell out its plans for a cash pile of over 2.5 billion euros.

Tesco, the world's third-biggest retailer behind France's Carrefour (CARR.PA) and U.S. leader Wal-Mart <WMT.N, is holding two days of seminars for analysts and investors on its retail services business, which includes banking, on Thursday and Friday.

Also on Thursday, Britain's Wm Morrison Supermarkets (MRW.L) is expected to report a slowdown in third-quarter underlying sales growth, in line with rivals which are all feeling the affects of a drop in food price inflation.

In parts of Europe and the United States, lower food price inflation has turned to deflation, putting pressure on groups like Ahold.

Last month, the Dutch company reported a slowdown in third-quarter sales growth and the first quarterly decline in underlying sales at its market-leading Albert Heijn chain in the Netherlands for around six years. [ID:nLJ66466]

However, analysts are still on average pencilling in a 3.4 percent rise in third-quarter operating profit to 271 million euros, thanks to a tight grip on costs. [ID:nLC470616]

Ahold, which trades from over 3,500 stores in 11 countries, is coming to the end of a three-year plan to cut costs by 500 million euros, and analysts are waiting for a new plan to be unveiled which they expect to total around 300 to 500 million.

Earlier this month the group said it was freeing up two of its most senior executives from day-to-day management responsibilities, fuelling speculation it is stepping up the search for acquisitions. [ID:nL5438706] [ID:nL6681756]

RBS analysts think Ahold is likely to use its cash on a mix of bolt-on acquisitions and returning cash to investors.