US member-based warehouse wholesale giant Costco opens up in Iceland today brining a stir of change into the Icelandic retail market. The opening of Costco in Reykjavik suburb today has been in the pipes for the last three years. According to one of the store managers it’s the biggest opening since the store chain arrived in Europe in 1993. (icenews.is)Target CEO: Border adjustment tax would hurt my customers
A current retail CEO and a former one found themselves at odds on Tuesday at a Capitol Hill hearing on the proposed border adjustment tax. “Under the new border adjustment tax, American families – your constituents – would pay more so many multinational corporations can pay even less,” said Target CEO Brian Cornell. “About 85% of Americans shop at Target every year. We believe this new tax would hit those families hard, raising prices on everyday essentials by up to 20%.” (chainstoreage.com) Amazon gives away 1.7M bananas around its headquarters in Seattle
Amazon’s free fruit stands are making locals and employees go bananas, but businesses in the area are split. Amazon first opened the Community Banana Stand in 2015, and there are now two on it’s sprawling corporate campus. Since then, it’s given away an estimated 1.7m bananas from two separate stands to employees and non-employees alike. As the Wall Street Journal notes, the stands mean trouble for local businesses hoping to sell anything banana-related. (thenextweb.com) Canada remains a bright spot for Walmart Stores
Walmart Canada just completed its 12th consecutive quarter of positive sales growth, and remains a bright spot for the world’s largest retailer. In Canada, net sales were up 2.7% while comparable stores sales were up 1.5%. The company said it was gaining market share in food, consumables, and health and wellness. (canadiangrocer.com) 
The future of Whole Foods isn’t about groceriesPlease, click here to read more at Bloomberg.
UAE supermarket to boost fruit export from Sri Lanka
UAE-based retail giant Lulu group has announced plans to build a shopping mall and hypermarket in Colombo, the Sri Lankan capital city. Yusuffali MA said: “it is our ongoing strategy to set up our own sourcing and food processing units around the world to ensure uninterrupted supply and ensure competitive pricing by eliminating middle men. Sri Lanka has a vast variety of fruits, vegetables and various commodities and we are working closely with the ministry of Southern Development and Govt. of Sri Lanka to boost the export of these." (arabianbusiness.com) AU: Amazon may launch grocery sooner than expected
Australian Food and Grocery Council forum in Brisbane revealed Amazon was already in talks with one fifth of grocery suppliers, “suggesting a launch in grocery may be earlier than we thought”. “Will Amazon Fresh/Pantry enter Australia any time soon? Likely, suppliers were almost unanimous in their view that Amazon Fresh/Grocery will enter Australia in the next three years,” wrote UBS analyst Ben Gilbert. Amazon had been in contact with 29% of non-food suppliers and 23% of packaged food suppliers in the survey, but no fresh food suppliers. “Almost all suppliers (around 96%) believe Amazon will set up a physical presence in Australia, with around 18% of suppliers in contact with Amazon,” Mr Gilbert wrote. (news.com.au) 
CVC Capital partners eyes Mercator: reportsCVC Capital Partners is allegedly interested in Slovenia’s largest retailer Mercator, reports regional news portal Seebiz. The US-based investment fund has also in the past been mentioned as a possible buyer for Mercator. (esmmagazine.com)
UK: Tesco to offer one hour delivery to fight Amazon
Tesco is ramping up store wars against online giant Amazon with a one hour delivery service. It has launched a pilot scheme In London offering shoppers one hour slots for up to 20 products from across its aisles. Items include fresh produce. (mirror.co.uk)Co-op to support British horticulture
Co-op plans to develop new long-term contracts with British fruit and vegetable growers, and to support British horticulture with the creation of new ranges. It will also create 15 new varieties of British-grown fruit and vegetables, which will be sold earlier and for longer than before. (pressandjournal.co.uk) UK: M&S sales & profit fall after short-lived improvement
Britain's Marks & Spencer reported a 10% decline in annual profit and said sales fell in its latest quarter, dampening the euphoria of the previous three months when it recorded a first increase in nearly two years. Revenue fell 2.2% to 10.62bn pounds. However, the dividend was maintained at 18.7 pence. Like-for-like food sales fell 2.1% versus an analysts' consensus of down 0.6%. Food revenue was up 4.2%, driven by new stores, however gross margin was down by 25 basis points due to ‘input cost inflation and higher than anticipated waste’. (Reuters/ ESM Magazine)Scottish asparagus set to hit Waitrose shelves
Waitrose is the first supermarket in the UK to offer Scots home grown asparagus. "Although Scotland is not famous for its asparagus, the Gijnlim variety has been grown by James Brunton in Angus, Scotland, exclusively for Waitrose", the company says. Asparagus sales at Waitrose have risen by almost 20% in the last three months with the supermarket putting its increasing popularity down to its versatility and health benefits. Musgrave to partner with 3000 farmers in Northern Ireland
Musgrave has announced a £100m commitment into the local food and drink industry this year as well as a £10m investment into its store network across Northern Ireland. The retailer want to partner with more than 140 local suppliers and 3,000 farmers and involving more than 3,000 products across its stores. (newsletter.co.uk)UK: McColls eyeing up acquisition of Tesco's One Stop chain
Jonathan Miller, owner of UK convenience chain McColls, has said that he is eyeing up a potential takeover of Tesco’s One Stop chain, he told the UK's Daily Telegraph newspaper. Retail experts believe that Tesco will be required to drop its One Stop brand or a large amount of Tesco Express shops before it can get clearance from the UK’s competition regulator for its merger with the wholesaler booker. (esmmagazine.com)