India: E-grocer BigBasket eyes $1bn value, raises $50m -
Online grocer BigBasket has raised $50mn (Rs 315 crore) from its existing investors led by Bessemer Venture Partners even as the Bangalore-headquartered startup has mandated Citigroup to raise $150mn (Rs 950 crore) from a set of new investors, people familiar with the matter said, timesofindia.indiatimes.com writes. The fund-raising process currently underway - to propel forays into 50 tier-II cities - is expected to value BigBasket at $1bn, sources added. The latest financing round from existing investors valued the country's largest e-grocer at about $400mn. BigBasket said it would exit the current financial year with a revenue run rate of $400mn, a four-fold jump from the $100mn in August. (source: timesofindia.indiatimes.com)
UK: Bids to be slashed for Tesco's data company Dunnhumby
The size of the bids set to be tabled for Tesco PLC's Dunnhumby data analysis business are set to be slashed after those interested in acquiring the unit found it was less profitable than initial forecasts, the Financial Times reports. Dunnhumby was put up for sale by the retailer earlier this year with a price tag of up to GBP2bn, but the FT, citing two people familiar with the auction, said bidders are now understood to be considering offers of around GBP700mn, having found the business was less profitable than thought. Tesco is seeking to sell Dunnhumby as part of an asset disposal programme designed to repair its debt-laden balance sheet. (lse.co.uk)
Costco inches closer to its first French store
It took more than 4 years but American department store chain Costco seems ready to take the plunge into the French market, retaildetail.eu reports. The "membership only" chain could open its first French store in the spring of 2016. With its move to France, Costco will enter a price war which may lead to minimal advantages for its customers. In other countries, like Australia and Canada, Costco was successful because it handed out huge discounts on a limited product range. While an average Carrefour Hypermarket carries 80,000 items, a Costco only has about 4,000 items. That price war has already put tremendous pressure on French margins, which is why several large French retailers have started joining forces late last year in order to get better prices from their suppliers.
A&P is expected to notify all of its employees of impending layoffs as it proceeds with plans to close or sell all of its stores under its Chapter 11 bankruptcy wind-down, supermarketnews.com reports. A&P employs approximately 28,500. Sources told SN Tuesday the notices were procedural in nature and issued "out of an abundance of caution," as the retailer seeks buyers for its 297 stores. An A&P spokesman declined to comment.
Online grocer BigBasket has raised $50mn (Rs 315 crore) from its existing investors led by Bessemer Venture Partners even as the Bangalore-headquartered startup has mandated Citigroup to raise $150mn (Rs 950 crore) from a set of new investors, people familiar with the matter said, timesofindia.indiatimes.com writes. The fund-raising process currently underway - to propel forays into 50 tier-II cities - is expected to value BigBasket at $1bn, sources added. The latest financing round from existing investors valued the country's largest e-grocer at about $400mn. BigBasket said it would exit the current financial year with a revenue run rate of $400mn, a four-fold jump from the $100mn in August. (source: timesofindia.indiatimes.com)UK: Bids to be slashed for Tesco's data company Dunnhumby
The size of the bids set to be tabled for Tesco PLC's Dunnhumby data analysis business are set to be slashed after those interested in acquiring the unit found it was less profitable than initial forecasts, the Financial Times reports. Dunnhumby was put up for sale by the retailer earlier this year with a price tag of up to GBP2bn, but the FT, citing two people familiar with the auction, said bidders are now understood to be considering offers of around GBP700mn, having found the business was less profitable than thought. Tesco is seeking to sell Dunnhumby as part of an asset disposal programme designed to repair its debt-laden balance sheet. (lse.co.uk)Costco inches closer to its first French store
It took more than 4 years but American department store chain Costco seems ready to take the plunge into the French market, retaildetail.eu reports. The "membership only" chain could open its first French store in the spring of 2016. With its move to France, Costco will enter a price war which may lead to minimal advantages for its customers. In other countries, like Australia and Canada, Costco was successful because it handed out huge discounts on a limited product range. While an average Carrefour Hypermarket carries 80,000 items, a Costco only has about 4,000 items. That price war has already put tremendous pressure on French margins, which is why several large French retailers have started joining forces late last year in order to get better prices from their suppliers.US: A&P to issue layoff notices at all stores
A&P is expected to notify all of its employees of impending layoffs as it proceeds with plans to close or sell all of its stores under its Chapter 11 bankruptcy wind-down, supermarketnews.com reports. A&P employs approximately 28,500. Sources told SN Tuesday the notices were procedural in nature and issued "out of an abundance of caution," as the retailer seeks buyers for its 297 stores. An A&P spokesman declined to comment. Promotions account for nearly half of supermarket sales in Portugal
The Portuguese Association of Distribution Companies (APED) estimates that promotions account for 41% of total supermarket sales, esmmagazine.com reports. This figure represents an increase of five percentage points compared to last year, reports daily Jornal de Noticias. France's Auchan may face products ban in Russia
Groupe Auchan, Russia’s third-largest retailer, may be restricted from making semi-finished products in the country after the food-safety regulator said meat used for pizzas violated quality standards, esmmagazine.com reports. SPAR now present in Udmurtia, Russia
Udmurtia, a province of 1.6mn inhabitants 1,300km east of Moscow, is the newest region in Russia to introduce the SPAR Brand, the company says in a press release. The first store to open is a 2,400m2 EUROSPAR Supermarket converted from a local chain operated by the appointed licence partner for SPAR in this region. India: Egrocer iOrderFresh gets funding to boost supply chain
App-based online fresh food and grocery store, iOrderFresh, from Supply Chain Analytics and Technologies Pvt Ltd, has raised an undisclosed amount of funding from a group of investors led by Best Foodworks, thehindubusinessline.com reports. Alkesh Tandon, founder of Best Foodworks, is set to join the board. Launched in December 2014, iOrderFresh delivers fresh fruits, vegetables, dairy, bakery products, pulses and organic food to customers. The company delivers products by procuring them directly from large wholesalers. The brainchild of founder and CEO Nitin Sawhney, iOrderFresh currently operates in the Delhi-NCR region.Germany: Layoffs at gourmet chain Karstadt/Perfetto
The layoffs and wage cuts at the German department store group Karstadt continue, wsws.org reports. The most recent piece of bad news concerns employees at the gourmet chain Perfetto, whose 43 branches are co-managed by Karstadt and the retailer Rewe. The exact number of job cuts has not been announced, but it is estimated that between 300 and 500 of the approximately 2,200 employees will be laid off. Please, click here to read the whole article. Germany: Edeka Suedwest launches online cash & carry facility
Edeka Suedwest has announced that it will offer bulk-buying wholesale customers a large range of non-food items through its new online cash and carry facility, esmmagazine.com reports. Jumbo launches Click & Collect service in Portugal
Portuguese hypermarket chain Jumbo, part of France's Auchan Group, has launched a new collect service, esmmagazine.com reports. The innovative Quiqshop service allows customers to order online and collect shopping in-store, with the possibility of completing the order with additional products at the hypermarket itself.DIA opens four new Minipreço Market stores in Portugal
DIA Portugal has opened four Minipreço Market stores, esmmagazine.com reports. With the latest openings, the Portuguese unit of Spanish retail group DIA now has over 620 stores throughout the country. The stores provide a greater supply of services, especially in the area of fresh products
Norway's Minister of Agriculture and Food has declared that food in the country is "too expensive", blaming a lack of competition in the retail industry, thelocal.no reports. "We have high food prices in Norway and the government is now looking into the value chain to see if competition can be strengthened," the minister, Sylvi Listhaug, told Norway's Aftenposten newspaper. During the last few months alone, food prices have increased by 5.4%, an increase Listhaug blames on the reduction in competition between supermarket chains since Coop bought Swedish retailer Ica's 553 Norwegian stores last October. "With only three supermarket chains we should be looking at competition," Listhaug warned. "There is also a high concentration in the supply chain." Indonesia's June retail sales grow 22.9% year-on-year
Indonesia's retail sales in June grew 22.9% from the previous year boosted by demand for food, beverages and tobacco, a Bank Indonesia survey showed on Tuesday, Reuters reports. The retail sales growth in June was in line with increased consumption during the Muslim fasting month of Ramadan. May retail sales growth was revised to 20.6% from an initially reported 19.8% rise, the survey showed.US: New York wants Walmart
The world’s largest retailer does not yet have a store in New York, but a new poll shows the majority would like one, fortune.com reports. Some 55% of New Yorkers want elected officials to allow Walmart to finally open a store within the city’s five boroughs, while 39% are opposed, according to survey released on Monday by Quinnipiac University. More strikingly, the support for a Walmart store was almost as high among union households. And 64% of New Yorkers said they’d shop at a Walmart if it were convenient.The UK's 'filthiest supermarkets' revealed
The 14 'filthiest supermarkets' in the land can be revealed today by Mirror Online, mirror.co.uk reports. The stores were among just a handful of more than 11,000 across England, Wales and Northern Ireland to be given a 'zero' rating by local authority inspectors. Please, click here to continue reading. http://www.mirror.co.uk/news/uk-news/uks-filthiest-supermarkets-revealed-your-6233462Philippines: SM Retail reports sustained 6% growth in total sales
For the first half of this year, SM Retail reported 6% growth in total sales to PHP96.7bn (US$2.1bn) and 13% increase net income to PHP3.1bn (US$67.3m), igd.com reports. The food retail business has continued to expand in both urban and rural communities, opening 20 new stores in Luzon, Visayas and Mindanao. They are also finalising the acquisition of three Cherry Foodarama stores based in Mandaluyong, Quezon City and Antipolo. At the end of June 2015, SM Retail had a total of 289 stores including 51 SM stores, 41 SM Supermarkets, 43 SM Hypermarkets, 127 Savemore stores and 27 WalterMart stores. Meanwhile, at the end of June, Retailer Alfamart increased its store holding to 50 outlets.Interesting articles about retail:
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