UK: Asda CEO steps down ahead of schedule
British supermarket group Asda said its chief executive, Roger Burnley, has stepped down, having said in March he would not be departing until next year. In February, Mohsin and Zuber Issa and private equity group TDR Capital completed their purchase of a majority holding in Asda from US giant Walmart, in a deal giving it an enterprise value of £6.8bln ($9.5bln).
Source: esmmagazine.com
Carrefour gains ground in France
The French retail group Carrefour achieved solid results in the second quarter. The French retail group gained ground, especially in its home country. Despite a high basis for comparison, Carrefour's second-quarter turnover increased 'like-for-like' by 3.6%. In France, thanks to excellent sales in the food segment, the retailer increased its market share by 0.5 percentage points. Non-food sales, however, lost ground. The group's supermarkets (+7.0%) and the hypermarkets (4.3%) grew strongly.
Source: retaildetail.eu
France: Casino's sales pick up after COVID-19 curfews end
French supermarket group Casino said it was seeing signs of improved sales momentum in July after its city stores suffered from a lack of tourists and coronavirus curfew measures in the second quarter. The group, which has been boosting its profitability through purchasing deals and cost cuts, saw a further slowdown in revenue growth in the April to June period, but said it hoped to return to positive territory by year-end.
Source: reuters.com
UK: Morrisons suitor CD&R given more time to make counter offer
Morrisons suitor Clayton, Dubilier & Rice (CD&R), has been given more time to consider a counter takeover bid for the supermarket group. Britain's Takeover Panel, which regulates takeover activity, said that CD&R has until August 20 to announce a firm intention to make an offer for Morrisons or walk away, a so-called "put-up or shut-up" order, extending a previous August 9 deadline.
Source: esmmagazine.com
UK: Morrisons agrees to Fortress' raised offer worth £6.7blnBritish supermarket group Morrisons has agreed to a raised takeover offer worth £6.7bln ($9.3bln) from a consortium led by Softbank owned Fortress Investment Group, it said. The new Fortress offer comprises 270 pence per Morrisons share plus a 2p a share special dividend, and is aimed at warding off a possible counter offer by US private equity group Clayton, Dubilier & Rice (CD&R).
Source: esmmagazine.com
China: Alibaba Group announces June quarter 2021 results
Alibaba Group Holding Limited (“Alibaba” or “Alibaba Group”) announced its financial results for the quarter ended June 30, 2021. Business highlights: In the quarter ended June 30, 2021: Revenue was RMB205,740mln (US$31,865mln), an increase of 34% year-over-year. Excluding the consolidation of Sun Art, our revenue would have grown 22% year-over-year to RMB187,306mln (US$29,010mln).
Source: alibabagroup.com
Amazon scores big win as India court stalls Future's $3.4 bln retail deal
India's top court handed Amazon.com Inc a major victory in a dispute where it sought to block its partner Future Group from selling $3.4bln in assets to rival Reliance Industries.
Source: reuters.com
US: iFresh announces strong 2021 harvest and sales of exotic fruit products
iFresh, Inc. (“iFresh” or the “Company”), an Asian American grocery supermarket chain and online grocer, is pleased to announce that its sales of dragon fruit, lychee, and longan this year have been strong. The increase in sales is due to a bountiful harvest from Dragon Seeds, a 15-acre farm based in Vero Beach, Florida, that specializes in organically-grown Mibao dragon fruit and exclusively supplies its dragon fruits to iFresh. Mr. Long Deng, Chairman of iFresh, owns the majority of Dragon Seeds.
Source: globenewswire.com
Presidente Supermarkets' 2021 expansion includes 7 new stores in Florida and the launch of a wholesale store concept
Miami-based Presidente Supermarkets, one of the biggest Hispanic-owned grocers in the U.S. and led by Omar Rodriguez for 30 years, is opening 7 new stores in 2021 plus a new wholesale concept. This investment in the community will add jobs and spur economic development.
Source: prnewswire.com
US: Sprouts still lapping pandemic gains in Q2
Sprouts Farmers Markets is delaying opening some stores this year due to supply chain challenges, as the natural foods grocer also reported flat two-year same-store sales. During the second quarter ended July 4, Sprouts was still lapping its pandemic gains from 2020, and had net sales of $1.5bln, a 7% decrease from the same period in 2020 and a 7% increase from the same period in 2019. Same-store sales growth was -10.0% and two-year comparable store sales growth was -0.6%. Net income was $61mln compared to net income of $67mln and adjusted net income of $70mln in the same period in 2020, and compared to net income of $35mln from the same period in 2019.
Source: progressivegrocer.com
US: Sales still strong at Ingles
North Carolina-based Ingles Markets Inc. has reported increased sales and net income for the 3 months ended June 26. Specifically, the retailer indicated that net sales totaled $1.28bln for third quarter, an increase of 7.4%, compared with $1.19bln for the quarter ended June 27, 2020. Net income totaled $72.0mln, compared with $62.8mln for same period last year.
Source: progressivegrocer.com
HelloFresh launches online grocery store in U.S.
HelloFresh, the Berlin-based meal kit company with a growing U.S. presence, is entering the highly competitive online grocery business with the launch of HelloFresh Market. The digital store offers customers a range of add-ons to the meal kit order they already receive on their doorstep - from quick meals to pantry essentials, fresh produce and ready-to-heat meals.
Source: winsightgrocerybusiness.com
US: GrubMarket acquires Grant J. Hunt Company to further expand on the West
GrubMarket announced it has completed the acquisition of Grant J. Hunt Company ("Grant Hunt"), a highly reputable and well-established produce wholesaler on the West Coast, with offices in Northern California and Washington. Grant J. Hunt is a key sourcing channel for premium fruits and vegetables on the West Coast, and has deep relationships with domestic and overseas farms. Grant Hunt works with many customers ranging from supermarkets to restaurants and other retailers.
Source: prnewswire.com
A tale of two Amazon Fresh stores
As Amazon Fresh continues its nationwide expansion, the retailer opened a new store in Warrington, Pennsylvania, on August 5. A day later, Amazon announced it would open a second location in its hometown of Seattle on August 12. The Warrington location is the first Amazon Fresh store to open in the Keystone State. The new stores will bring the total number of Amazon Fresh locations in the country to 17.
Source: winsightgrocerybusiness.com