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Ahold Delhaize CEO focused on integration amid talk of Kroger deal

Loblaw lays off 500 office workers

Walmart pulls back on store openings
Walmart plans on opening fewer that 15 Supercenters and fewer than 10 Neighborhood Markets next year. This will be its lowest pace of new store openings for over 15 years, and extends the slowdown we have seen in new space development at the retailer over recent years. As recently as two years ago it was opening around 150 stores a year. However, the retailer believes that its current portfolio, along with its growing ecommerce assets enable it to serve its customers in a seamless way. This move will also enable it to allocate more capital to remodels, supply chain and technology. (igd.com)

Ahold Delhaize CEO focused on integration amid talk of Kroger deal
In an exclusive interview with Food Dive, Ahold Delhaize CEO Dick Boer seemed to downplay the possibility that the grocery giant is contemplating a bid for beleaguered Kroger, which has been hit particularly hard by changing consumer buying habits and the recent $14.7bln purchase of Whole Foods by online heavyweight Amazon. Please, click here to read the article at Food Dive. 

CA:  Loblaw lays off 500 office workers
Loblaw Companies Limited says it is laying off 500 workers from its office operations. She said the business faces growing pressures from both new costs and competition, and remains committed to reducing costs and running efficiently. (canadiangrocer.com)

South Africa's Pick n Pay reports 25% profit fall

South African supermarket operator Pick n Pay on Tuesday reported a 25% fall in half-year earnings as a weak economy and staff cuts weighed on profit. Headline earnings per share fell to 61.88 cents for the six months to August 31 from 82.43 cents a year earlier. Headline earnings per share strip out certain one-off items and are the main profit measure in South Africa. (Reuters)

French Casino Q3 sales rise
French supermarket retailer Casino posted higher third quarter sales on Tuesday that slightly beat the consensus forecast, helped by growth at its main domestic stores such as Monoprix, Geant and its online Cdiscount unit. Casino, which controls Brazil’s top retailer Grupo Pao de Acucar, said third quarter sales reached 9.2bln euros ($10.8bln), slightly ahead of analysts’ expectations for sales of 9.119bln euros. (Reuters)

German Real to launch online grocery
Real will launch a delivery service for fresh groceries and hopes this will outshine the country’s leader in online retailing, Amazon. A first test is already underway in Dusseldorf and the chain is delivering leafy greens and more in ten further cities from Berlin, Hanover and Dortmund to Bergen on the Baltic Sea island of Rügen. (global.handelsblatt.com)

Saudi Arabia: Panda Retail Company announces new CEO
Bander Talaat Hamooh has been named as the new CEO of Panda Retail Company. He will take over from interim CEO Rayan Mohammed Fayez, who will return to his role as CEO of the Savola Group. (igd.com)

UK's 'Big Four' see declines in market share: Kantar worldpanel
Each of the UK's 'big four' supermarkets recorded a decline in market share for the 12 weeks ending 8 October 2017, according to the latest figures from Kantar Worldpanel. Sales were up at Tesco (2.1%), Sainsbury's (1.9%), Asda (1.8%) and Morrisons (2.8%), however, all of the large retailers lost market share to smaller operators and discounters. (esmmagazine.com)



UK: Tesco looks to pay down £700m in debt

Supermarket Tesco has launched a tender offer for outstanding notes, in a bid to pay down as much as £700m in debt. Shares in the company were up slightly, by 0.6%, at the time of writing. Offers have been launched for €1.25bn worth of its loan notes due in 2019, as well as £2.65bn worth of its sterling denominated notes due between 2019 and 2057. (cityam.com)

German Globus sees sales increase
German retail group Globus has posted turnover of €7.52 billion in its fiscal year 2017, ending June 30, representing an increase of 6.2% compared to the previous year. The group's hypermarket business in Germany achieved sales of €1.4 billion, up by over 25%, while Globus Czech Reupublic saw sales increase by €19.3 million to €971 million. (esmmagazine.com)

Brexit uncertainty curbs UK retail earnings growth potential: Moody’s

The earnings growth potential of UK retailers will be lower than those in continental Europe in 2018, following the uncertainty of Brexit, according to ratings agency Moody’s. Overall, however, the organisation says that improved economic prospects in most European countries will support solid revenue growth and underpin a stable outlook for the retail sector. It forecasts that specialist retailers’ earnings across Europe will grow 6.3% in 2018, ahead of food (+3.6%) and apparel (+3.2%) retailers. (esmmagazine.com)




Publication date: 10/17/2017
Author: Jan Willem de Jongste
Copyright: www.freshplaza.com


 


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