Loblaw forecasts grocery prices will fall, profit widens in first quarter
Amazon Fresh expected to launch in the UK this month
The price of salad is plummeting as supermarkets are cutting the cost of fruit and vegetables by up to 11pc a month, figures show, following a major crackdown on misleading multi-buy offers by watchdogs. Popular supermarket items dropped in price during April with onions 12pc cheaper than they were in March, fresh peppers down 7pc and broccoli 6pc cheaper according to Mysupermarket, a shopping website.
Amazon Fresh expected to launch in the UK this month
Although Amazon UK has made a small foray into the world of groceries, it has yet to fully take on Britain's supermarkets with the launch of its Fresh service. That could soon change, however, after The Grocer got wind that the company has already begun servicing a small number of customers from its east London depot. It's also apparently told suppliers to begin deliveries within the next couple of weeks.
Aldi and Lidl continue to grow while 'Big Four'
supermarkets suffer sales downturn
The Big Four of Britain's supermarket industry suffered a decline in sales in the first three months of the year, while Aldi and Lidl continued to grow, an industry report published on Wednesday (4 May) showed. According to figures released by Kantar Worldpanel, Asda was the worst performers of Britain's four main supermarkets chain, with first-quarter sales falling 5.1% year-on-year. Morrisons and Tesco posted a 2.8% and 1.3% decline respectively, while Sainsbury's confirmed itself as the most resilient of the group, as sales in the 12 weeks to 24 April fell by a relatively modest 0.4% compared with the corresponding period a year ago.
Asda's sales slump as big UK supermarkets struggle
Sales at Walmart's British supermarket chain Asda fell 5.1 percent in the 12 weeks to April 24, the worst performance in a period when all four of the country's big chains saw sales declines, industry data showed on Wednesday.
Safeway, Trader Joe's part of recall of frozen fruits, veggies
A Pasco, Washington company has expanded its recall of frozen vegetables linked to a listeria outbreak that has sickened eight people. It affects all 50 states and several Canadian provinces. The recall includes CRF Frozen Foods products sold in Trader Joe's and the Signature brand sold by Safeway. Many labels target consumers who favor organic foods.
Loblaw posts profit jump as grocery price war heats up
Consumers are getting fed up with rising food costs, and that is only adding fuel to the brewing retail grocery price battle. At a time when cauliflower prices spiked to $8 just before Christmas, Loblaw Cos Ltd. “began to notice consumer resistance” to soaring food prices in the fourth quarter, president Galen Weston told analysts on a first-quarter conference call Wednesday. “We will have the sharpest possible pencil on the promo programs,” Weston said, as retailers across the country step up their promotions.
Loblaw profit rose 32.2 per cent in the first quarter, ended March 26, to $193 million, or 47 cents per share, compared with profit of $146 million, or 35 cents), in the same period last year. Adjusted net earnings were $338 million, or 82 cents per share, up 12 per cent from $301 million, or 72 cents, and were in line with analyst estimates from Thomson Reuters.
Budgens to take over Wisbech supermarket as Co-op sells off stores
The Co-op is selling off 36 former Somerfield stores, including its site in Wisbech, just 8 years after its £1.6billion takeover of the supermarket chain. The 36 former Somerfield stores, currently trading as Co-op supermarkets, have been snapped up by the Food Retailer Group for an undisclosed sum.
Morrisons chalks up second straight quarter of sales growth
Morrisons is making progress towards its recovery, its chief executive said, after reporting a second consecutive quarter of like-for-like sales growth. The UK’s fourth biggest supermarket chain said that like-for-like sales excluding fuel rose by 0.7pc in the 13 weeks to May 1. Like-for-like sales strip out stores that have been closed or opened during the last year, to give a more accurate measure of the business.
Sainsbury's hit by falling food prices
Sainsbury's has reported a fall in annual profits as the supermarket price war continued to hurt the retailer. Underlying profits, which strip out one-off charges, fell to £587m for the year to 12 March. That was down from £681m in the previous year. Pre-tax profits for the year were £548m, reversing last year's £72m loss. That result was hit by charges related to the falling value of its properties. In April, Sainsbury's agreed to buy Argos-owner Home Retail Group.
Tuskys owners accused of stealing from their supermarket chain
Two directors of Tuskys Supermarket have been arraigned in court in Nairobi for allegedly stealing Sh1.6 billion from the Company. Stephen Mukuha Kamau and George Gachwe Kamau stood before Milimani Chief Magistrate Daniel Ogembo where they denied the charges when asked how they pleaded. The court was narrated how the pair took Sh400 million on diverse dates between 2002 and 2012 at Tuskys Headquarters along Mombasa Road, in cahoots with with others who were not in court. Read more
Loblaw forecasts grocery prices will fall, profit widens in first quarter
Rising food prices led to more shoppers looking for discounts on their grocery bills in the last quarter, but the head of Canada's largest grocery retailer forecasts prices will be coming back down sooner, rather than later.
Aldi WA stores: competitors say 'bring it on'
As Aldi's WA invasion gathers steam, local retailers say they welcome the competition from the German discount juggernaut. Already entrenched as Australia's third-largest grocery retailer, Aldi will open its first Perth stores next month and has planned to have 20 open by year's end. Aldi's business model involves smaller stores stocking a smaller range of products (around 900), thereby saving on rent and passing those cost cuts onto consumers.