Italy: Sogegross launches new growth strategy
Italian retailer and wholesaler Gruppo Sogegross has launched a new growth strategy which the company says is focused on brand synergy and expansion of its network. As part of its plans, the retailer plans to increase the collaboration and planning of its Basko supermarket banner and its Doro franchise network.
Source: esmmagazine.com
Record loss for Lidl in Belgium
Turnover and margins are firmly under pressure at Lidl. In the past financial year, the hard discounter in Belgium went as much as 51.2mln euros in the red. Lidl’s turnover in Belgium fell by 2.2% to 2.59bln in the past broken financial year, reports De Standaard. Rising costs caused an operating loss of 47.1mln euros, up from 7mln a year earlier. The chain has been struggling with profitability problems for some time, but these are the worst ever figures for the retailer, the newspaper says. Per 100 euros of sales, the discounter lost 1.94 euros net. Per hour worked, turnover fell 6%.
Source: retaildetail.eu
Indonesia’s Blibli, Tiket join forces in new ‘ecosystem’
Indonesian ecommerce firm Blibli has announced a unified omnichannel ecosystem called Blibli Tiket. The ecosystem merges Blibli’s offerings with those of its two subsidiaries: travel booking platform Tiket.com and supermarket chain Ranch Market.
Source: techinasia.com
UK: Cost-of-living crisis to halt 'extraordinary' progress at high-end supermarket chain, warns Booths boss
The "extraordinary" financial performance of high-end supermarket chain Booths will be halted by the cost-of-living crisis, its boss has warned. Chairman and chief executive Edwin Booth said he has "no doubt" the rapid rise in inflation will hit the company's sales and profits in the 12 months to April 2023.
Source: business-live.co.uk
Auchan Poland sees revenue, profits up in full-year 2021
Auchan Retail Polska, the Polish arm of France's Auchan Retail, has reported revenue of PLN11.2bln (€2.32bln) for full-year 2021, up from PLN11.03bln (€2.29bln) the previous year. The group, which said that the results demonstrate that it 'continues to be a leader in the hypermarket format' in Poland, reported profit of PLN222mln (€46mln) for the period, which was PLN57mln (€11.8mln) higher than the previous year.
Source: esmmagazine.com
Lulu Group targets Iraq and Africa ahead of Abu Dhabi IPO
Lulu Group International confirmed to AGBI that it will add new outlets to its network as it consolidates in the Middle East and moves into new markets, including Iraq and North Africa.
Source: agbi.com
Indonesian quick commerce firm to shut shop, plans to pivot
Indonesian quick commerce firm Bananas is set to close its operations after launching in January. As a result, it has also laid off 36 employees. Bananas told Tech in Asia that it couldn’t find unit economics that worked for the company despite “constantly experimenting with different parts of the business for months”.
Source: techinasia.com
CJ Lang posts fourth year of growth for Spar Scotland stores
Scottish Spar wholesaler and convenience retailer CJ Lang & Son has reported its fourth successive year of profit growth as its turnaround strategy continues. Pre-tax profits increased by 10.7% to £3.4mln for the year ending 30 April 2022, with margin up by 0.3% to 23.3%. Turnover was down slightly, by 0.1% to £212.3mln. The Dundee-based company said the results had been delivered against the backdrop of an “extremely challenging economic climate that continues to drive changes in shopping behaviour.”
Source: talkingretail.com
Germany: Ailing Galeria Karstadt Kaufhof in need of support again
German department store chain Galeria Karstadt Kaufhof, the parent company of INNO in Belgium, is once again in dire straits. The company, fighting for its survival, has applied for state aid for the third time.
Source: retaildetail.eu
CalFresh recipients: How to get an extra $100 of free food every month
This month CalFresh increased its benefits 12%, adding potentially more than $900 a month to a family’s grocery budget. Now thanks to a new program at Northgate Gonzalez Markets in Southern California, eligible families and individuals can get up to $100 extra per month to spend on fruits and vegetables at any participating Northgate Market store.
Source: foxla.com
US: Kroger agrees to buy rival grocery company Albertsons for $24.6bln
Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco. The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6bln. Combined, Kroger and Albertsons employ more than 700,000 people across about 5,000 stores.
Source: cnbc.com
US: Beyond Meat to cut 19% of its workforce as sales, stock struggle
Beyond Meat plans to cut 19% of its workforce, or about 200 employees, the company said in a regulatory filing. The company also said several top executives were leaving.
Source: cnbc.com