US: Kroger, Albertsons file pointed responses to FTC
Kroger and Albertsons both filed sharply worded comments this week asserting that the Federal Trade Commission defined the competitive retail and labor markets much too narrowly in its effort to block the retailers' planned merger.
Source: supermarketnews.com
Canada: Empire reports fiscal 2024 third quarter results
Empire Company Limited ("Empire" or the "Company") announced its financial results for the quarter ended February 3, 2024. For the quarter, the Company recorded net earnings of $134.2mln ($0.54 per share) compared to $125.7mln ($0.49 per share) last year. For the quarter, the Company recorded adjusted net earnings of $153.1mln ($0.62 per share) compared to $164.8mln ($0.64 per share) last year.
Source: newswire.ca
DIA to close more than half its stores in Brazil
Reuters reported: "Spanish food retail group DIA has announced that it will close 343 stores and three warehouses in Brazil following negative results for its business in the South American country last year."
Source: esmmagazine.com
US: Dollar General stays on track for success
Dollar General is betting it can capitalize on what it calls a "significant opportunity" to power through fiscal year 2024. Q4 was a lackluster one as net sales decreased 3.4% year over year to $9.9bln and operating profit dropped 37.9% to $579.7mln. Fiscal year 2022 did have a 53rd week.
Source: supermarketnews.com
UK: Liverpool's mobile greengrocers scheme to be extended
A scheme which helps people access fresh fruit and vegetables has proved so popular it will be expanded. Queen of Greens in Liverpool supports mobile greengrocers in minibuses to target the city's "food deserts" - places where green produce can be difficult to find. Only about half of adults in the city eat the recommended five-a-day of fruit and vegetables.
Source: bbc.com
UAE: Currency concerns hit Majid Al Futtaim's retail revenue
Dubai conglomerate Majid Al Futtaim recorded a slight increase in revenues over the past year but the company's retail business was hamstrung by geopolitical tensions and currency concerns across several countries. Overall revenue was up by a single percentage point to AED34.5bln ($9.4bln) for 2023, with profit rising 12% to AED2.7bln. The retail side experienced a 4% decline to AED24.7bln.
Source: agbi.com
Co-op model can help fix problems of Australia's supermarket sector, says BCCM
Australia's Business Council of Co-operatives and Mutuals (BCCM) says a co-operative approach can help ensure equity, diverse ownership and community cohesion in the supermarket trade.
Source: thenews.coop
Germany: HelloFresh SE reports €7.6bln consolidated revenue for the FY 2023 and returns to positive free cash flow
HelloFresh SE ("HelloFresh" or "Company") released its results for the FY 2023 and the fourth quarter of 2023. In terms of consolidated revenue HelloFresh reached approx. €7.6 bln, a y-o-y constant currency growth of approx. 3% (FY 2022: €7.6 bln).
Source: hellofreshgroup.com
Humans Market product marketplace launches in Uzbekistan
The Humans company has announced the initial launch phase of its product marketplace in the Humans.uz super app. This section of the Humans mobile app, called "Humans Market", to date includes two major categories: Artel Electronics, a leading company in the electronics sector, and product delivery service Humans Yaxshi. The second category, Humans Yaxshi, provides a delivery service for fresh produce.
Source: accesswire.com
New Zealand: Foodstuffs North Island launches online dashboard showing progress in implementing grocery market reforms
Foodstuffs North Island - the 100% NZ-owned grocery co-op serving more than 300 local communities - has published a new webpage showing its progress in implementing reforms aimed at improving competition in the grocery sector. The Dashboard can be viewed here: www.foodstuffs.co.nz/Grocery-Market-Regulation-Dashboard.
Source: foodstuffs.co.nz
South Africa: SPAR steps up battle for affluent and discount shoppers
South Africa's second-biggest supermarket retailer SPAR Group plans to open premium and discount grocery stores while also entering new niche retail markets, its chief executive said.
Source: reuters.com
Kids Food Guarantee: The affordability and accessibility of fruit and veg
The Food Foundation reported: "In the UK it's recommended everyone eats at least five portions of fruit and veg a day (400g), yet consumption is where the widest dietary inequalities are found between high and low income households. This report, published as part of our Kids Food Guarantee project, assesses the price and nutritional profile of 70 of the lowest priced fruit and veg in seven main retailers".
Source: foodfoundation.org.uk
UK: Deliveroo beats earnings guidance, sees positive cash flow in 2024
British meal delivery company Deliveroo reported better-than-expected core earnings of 85mln pounds ($109mln)for 2023, and expected further progress during 2024 with a move into positive cash flow.
Source: reuters.com
Major Hong Kong grocery chain shuts stores as China lures shoppers
Hong Kong's third-largest supermarket chain U Select, run by state-owned conglomerate China Resources Holdings Co., has almost halved its network in less than a year as the city's retailers struggle with economic headwinds and residents flock across the border for cheaper shopping.
Source: bnnbloomberg.ca