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Kroger results hit by grocery price war, shares slide

Target slashes prices on thousands of items

Amazon grocery sales could top $30B by 2025, study finds
Amazon currently has a small share of U.S. grocery sales, but Packaged Facts forecast it will grow substantially during the coming years, according to a press release. The research firm expects Amazon’s online food and beverage sales to rise to $2.3bln in 2017 from $1.5bln in 2016, giving it a 19% share of the online grocery market. Packaged Facts projects 70% sales growth in 2018 and 2019 before growth begins to moderate. Still, double-digit annual sales growth is forecast through 2025 when the research company projects Amazon’s food and beverage sales, including Whole Foods, could top $30bln. (fooddive.com)

US: Target to slash prices on thousands of items
Target Corp said on Friday that it had lowered prices on thousands of items, further hurting retail stocks. Target, which vowed earlier in the year to aggressively clamp down on prices to compete with rivals Wal-Mart Stores Inc. and Amazon.com said it had spent months reassessing the prices of everyday items such as milk, eggs, razors and bathroom tissues. The retailer, which said it would continue to offer discounts on some products in addition to the price-cuts, added that it had also eliminated more than two-thirds of its price and offer call-outs. (Reuters)

US: Kroger results hit by grocery price war, shares slide
Kroger on Friday reported a quarterly profit drop after an intensifying grocery price war hit its bottom line, and warned that same-store sales and operating margins would be lower than expected for the remainder of the year. The biggest U.S. supermarket owner with banners such as Ralphs, Harris Teeter and Food 4 Less, also said it would stop providing longer-term earnings growth forecasts due to the “dynamic operating environment.” Kroger’s long-term target for 8% to 11% earning per share growth had been a “key selling point” for investors, Pivotal Research analyst Ajay Jain said. (Reuters)

US: Sprouts CEO sees home delivery as the way forward for e-commerce
Sprouts Farmers Market CEO Amin Maredia told attendees at Goldman Sachs’ 24th Annual Global Retailing Conference that home delivery has expanded the company’s market reach, and that the company wants to become a top e-commerce player in the coming years. (fooddive.com

UK: mySupermarket Data shows grocery costs continuing to rise
mySupermarket’s latest monthly Groceries Tracker confirms that the price of the average basket of grocery items is continuing to rise as the fall in the value of the pound drives up import costs. Research conducted by the price comparison website found the price of a basket of 35 popular items rose to £84.40 in August, compared to the previous month’s £84.35. (kamcity.com)

Zimbabwe’s retailers raise alarm on food shortages
Retailers in Zimbabwe want the central bank to put a speedy end to foreign payment bottlenecks for suppliers of goods and commodities to shops in the country. This comes as shortages have started to emerge, owing to a foreign currency crunch. RBZ governor John Mangudya said on Tuesday that the RBZ has “put in place measures” to avert food shortages in the country. (primenewsghana.com

CEO of Rami Levy supermarket chain detained by Israeli police
The owner and chief executive of Israel’s Rami Levy supermarket chain was detained by police on Sunday on suspicion of fraud and breach of trust as part of a broader investigation that is not directly connected with the company, the firm said. The chain is controlled by high-profile businessman Rami Levy, who owns 45%. (Reuters)

Ahold Delhaize shakes up leadership in Belgium
Ahold Delhaize on Friday announced a slate of leadership changes with an eye on improving performance in Belgium, including the retirement next year of Europe and Indonesia COO Pierre Bouchut, and the departure of Delhaize supermarket CEO Denis Knoops, effective Monday. The company also announced a succession plan for COOs for its Netherlands and Belgium divisions. Wouter Kolk, current brand president of Albert Heijn, will assume the role of COO Europe and Indonesia effective Jan. 1, 2019. (supermarketnews.com

Sweden's ICA sees sales rise 
Swedish retailer ICA has seen its sales for the month of August rise by 3.4% compared to the same month the previous year. Sales in like-for-like stores increased by 2.6%. (esmmagazine.com)

Swiss Lidl launches online meal boxes
Lidl has launched an innovative meal box service online in Switzerland. There is a choice of three dishes and each box comes with the ingredients needed to make the meal, as well as an easy to follow recipe card. The recipes use seasonal ingredients and are focused on providing quick and healthy meals to cook at home. (igd.com)

Swiss Migros opens up its Pick up stations to a third party
Migros has a network of Pick up stations called PickMup, located at its stores and other subsidiaries. For the first time, it is partnering with a non-Migros owned e-shop, Brack, to allow customers to order online and pick up products from its PickMup locations. 90% of the Swiss population live within a ten minute drive of a PickMup location, so this is convenient for shoppers. (igd.com)



Publication date: 9/11/2017
Author: Jan Willem de Jongste
Copyright: www.freshplaza.com


 


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