UK: Ocado pay backlash looms as firm moves to offer boss £14.8mln package
Ocado is facing criticism as it seeks shareholder approval for a potential bonus worth up to £14.8mln for its chief executive, Tim Steiner. Glass Lewis, an influential shareholder advisory group, has urged investors to vote against the online grocery group's remuneration policy and performance share plan at its annual shareholder meeting, flagging "egregious remuneration practices".
Source: theguardian.com
Dutch startup TommyTomato bags €1.9mln to get 50,000+ children to eat a vegetable lunch this year
Haarlem-based TommyTomato, a company on a mission to turn children into vegetable eaters for life, announced that it has secured €1.9mln in growth funding from Stichting LifeTree Fund, DOEN Participaties, and Social Impact Fund Rotterdam. Bas Turk and Erik van der Plas, founders of TommyTomato, are both fathers of three children. They experienced how difficult it is to get children to eat enough vegetables. That is why they founded TommyTomato in 2020.
Source: siliconcanals.com
Portugal: Jerónimo Martins' first-quarter profit falls 31% as margins squeezed
Reuters reported: "Portuguese retailer Jerónimo Martins has reported a bigger than expected drop in first-quarter net profit as a hit to its margins from food price deflation more than offset higher sales at its market-leading Polish chain, Biedronka. The company booked a consolidated net profit of €97mln ($104mln), down 31% from €140mln in the same quarter last year and below analysts' average forecast of €118.3mln, according to LSEG".
Source: esmmagazine.com
UK: Inflation fades but food industry still faces challenges
IGD has released its latest Economics Viewpoint report: Striving for Growth, which outlines the challenges the grocery industry faces in delivering growth. Although both food inflation and all items inflation are fading, the group notes that UK food businesses will have to contend with the challenge of maintaining low prices while urgently driving volume growth.
Source: kamcity.com
UK: Co-op serves-up its newest store, in Blyth (Northumberland)
Co-op has served-up its newest store in Blyth, Northumberland - located in the Links development at South Beach. The new 2,500 sq ft convenience store has created 15 local jobs and will include an in-store bakery, Costa Coffee Express machine and a free ATM to provide access to cash in the community. This sits alongside a focus on fresh, healthy produce.
Source: co-operative.coop
Sweden: ICA Gruppen's Annual General Meeting 2024
At ICA Gruppen's Annual General Meeting, Magnus Moberg was elected as the new Chairman of the Board. At the same time, Göran Blomberg, Anette Wiotti, Katarina Romberg, Fredrik Persson, Jan Amethier, Charlotte Svensson, Per Strömberg, Bengt Kjell were re-elected as members of the Board.
Source: icagruppen.se
Makro Spain posts 12% sales growth in FY 2022/2023
Wholesaler Makro Spain has reported a 12% year-on-year growth in sales to €1.6bln in its 2022/2023 fiscal year. Sales of own brands increased by close to a quarter (24%) to €594mln, accounting for 36% of the total turnover.
Source: esmmagazine.com
European Sustainable Food Coalition seeks to foster collective action
The European Sustainable Food Coalition (ESFC), which was established to empower the grocery retail and foodservice sectors to embrace a sustainable future, has held its first online event, involving representatives from Migros, Ahold Delhaize, the European Commission, EuroCommerce, FoodDrinkEurope and Wageningen Economic Research.
Source: esmmagazine.com
US: Pennsylvania grocery icon Richard Redner dies at 73
Richard E. "Dick" Redner, the legendary chairman and past president of Redner's Markets, has died. Redner passed away peacefully on April 25, the company announced. He was 73 years old.
Source: progressivegrocer.com
Giant Eagle, Flashfood app now taking SNAP benefits
The Flashfood app now allows Giant Eagle shoppers to use Supplemental Nutrition Assistance Program (SNAP) benefits. Giant Eagle shoppers who use the app can now use Electronic Benefits Transfer (EBT) for payment.
Source: supermarketnews.com
US: Walmart releases 2024 Annual Report and Proxy Statement
Walmart Inc. issued its 2024 Annual Report and filed its Proxy Statement in preparation for the company's Annual Shareholders' Meeting on Wednesday, June 5, 2024.
Source: corporate.walmart.com
US: H-E-B to build Texas distribution campus
H-E-B announced it has completed a land deal for nearly 500 acres in Hempstead, Texas, that will serve as the site of a planned distribution campus. The terms of the transaction were not disclosed.
Source: grocerydive.com
US: Walmart drones are hitting more areasWalmart is ready to expand its drone delivery service to four stores in Texas. In partnership with drone delivery provider Wing, the Bentonville, Arkansas-based retailer officially launched a drone delivery service at a Walmart Supercenter in North Richland Hills, Texas, and drones will be used at a Walmart in Tarrant Parkway, Texas.
Source: supermarketnews.com