US: Kroger invests $17mln in northern Kentucky distribution center
The Kroger Co. is investing $17mln in its 674,000-square-foot ambient distribution center on Mt. Zion Road in Florence, Kentucky, which the retailer said would accelerate production and create 250 new jobs, the majority of which will be full-time positions. The distribution center, which currently employs 80 associates, opened in October 2017 after an initial $60mln investment to service Kroger’s direct-to-store distribution centers across the eastern half of the U.S., as well as to support its growing e-commerce and digital business.
Source: winsightgrocerybusiness.com
US: The Fresh Market closing 15 stores
The Fresh Market Inc. has revealed plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin. According to the Greensboro, North Carolina-based grocer: “This decision was made following the completion of an organizational analysis and careful consideration of the overall growth strategy and long-term financial performance of the company. We do not expect any further store closures in the foreseeable future.”
Source: progressivegrocer.com
The Kroger Co. is investing $17mln in its 674,000-square-foot ambient distribution center on Mt. Zion Road in Florence, Kentucky, which the retailer said would accelerate production and create 250 new jobs, the majority of which will be full-time positions. The distribution center, which currently employs 80 associates, opened in October 2017 after an initial $60mln investment to service Kroger’s direct-to-store distribution centers across the eastern half of the U.S., as well as to support its growing e-commerce and digital business.Source: winsightgrocerybusiness.com
US: The Fresh Market closing 15 stores
The Fresh Market Inc. has revealed plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin. According to the Greensboro, North Carolina-based grocer: “This decision was made following the completion of an organizational analysis and careful consideration of the overall growth strategy and long-term financial performance of the company. We do not expect any further store closures in the foreseeable future.” Source: progressivegrocer.com
Italy: Gruppo Selex to up spending after solid FY growth
Gruppo Selex reported a solid rise in sales for its last fiscal year, outpacing the wider market, helped by continued expansion and revamps. For 2017, overall sales were up 4.1% to €10.5bln, compared to market growth of 2.6%. Selex also ended the year with a market share of 10.4%, making it the third-largest player in the Italian modern retail market. Additionally, Selex added that sales in the January-June 2018 were positive, rising by 4.3% on like-for-like growth of 1.4%. Dario Brendolan, President of the group, said the results were due to “continuous investments made in recent years to revamp the sales network and to ensure competitiveness in the offer.” Selex plans to invest an additional €330mln in 2018, up from €300mln last year, to open 66 new retail stores (19 superstores, 27 supermarkets, and 20 discount stores) and three cash & carry outlets, while also revamping 59 stores and two cash & carry outlets.Source: kamcity.com
Lithuania: Maxima Grupé announces formation of new audit committee
Lithuania's Maxima Grupé has announced the formation of a new audit committee, meant to 'ensure an effective and reliable process for auditing the company’s financial statements.' The committee consists of three members of 'impeccable reputation', two of whom are independent, who will each serve a four-year term. Independent member Kasparas Žebrauskas has been elected as chairman of the newly formed committee, and brings more than two decades of auditing experience to the role. Jurgita Kirvaitienė is the other independent member of the committee, with Maxima's director of finance Rytis Jezepčikas filling out the third position.Source: esmmagazine.com
Singapore: Sheng Siong targets big expansion in 2018
Singapore’s Sheng Siong supermarket group is on track to open its 50th store this year, with bids in play for locations in Bukit Batok and Sumang Lane. And an analyst familiar with the business, CGS-CIMB’s Cezzane See, says the group’s pipeline is robust, with at least 10 bids coming up before the year is over. “If successful, the wins could take Sheng Siong’s number of stores beyond the 50-store target by the end of FY2018, and beyond six new store openings in FY2018 (just shy of the 8 store additions in FY2012),” See said in a report. The supermarket operator ended the first quarter of this year with 48 stores, five more than at the same time last year. It achieves revenue per square foot of $226, according to See.Source: retailnews.asia
Sales up in June across Sweden's ICA Group
Swedish retailer ICA Group has announced a 4.3% increase in sales year on year across its stores for the month of June 2018. Overall, sales in ICA stores totalled SEK10.52mln excluding VAT (€1.03mln) for the month, an increase of 4.3% compared with last year. The rise for H1 2018 is almost as strong, with the group posting SEK58.05mln in sales (€5.67mln), a 3.8% increase compared to H1 2017.Source: esmmagazine.com
Carrefour Italia introduces outlet and rural store concepts
Carrefour Italia has opened its first outlet and rural store formats in Italy, the retailer has announced. The first outlet format store was opened in the Parco Shopping Centre in Calenzano, near Florence. The outlet is located next to the hypermarket, covers an area of more than 900 square metres, and offers more than 5,000 discounted non-food references. The discounts range from 30% to 80% on all merchandise categories, including Bazaar, Textile, and Electronics. The goals of the banner are to optimise the distribution of supplies from other stores in the region, offer a large discount across different product categories, and promoting a strong commitment to fighting waste.Source: esmmagazine.com
Tesco UK chief steps down over cancer
Tesco's UK chief executive, Charles Wilson, is stepping down from the company board after being diagnosed with throat cancer. Mr Wilson was formerly boss of food wholesaler Booker, but became Tesco's UK chief following the supermarket's £3.7bln takeover of Booker in March. Tesco said Mr Wilson had responded well to treatment and all the signs were that it had been successful. However, there was a need for him to "remain vigilant in his recuperation". Mr Wilson will remain on Tesco's executive committee and will focus on leading the Booker business. He will continue to report to Tesco's overall chief executive, Dave Lewis. Jason Tarry, currently the group's chief product officer, will become the chief executive of Tesco UK. All changes take effect on 16 July.Source: bbc.com
Spar China opens new store in Guangdong province
Spar China has opened a new supermarket in Guangdong province, bringing its tally up to 412 stores across the nation. The new stand-alone supermarket, located in the city of Dongguan, has a sales area of 1,300 square meters and nearly 6,000 SKUs, and will focus on meeting a growing customer demand for fresh products, Spar China said. The supermarket will have a self-checkout system as well as a mobile scan-and-pay app that can be used for small volume purchases. The app had a 68% turnover rate on the first day of use, according to a press release issued by Spar China.Source: esmmagazine.com
Italy's VéGé Group: sales rose 6.9% in 2017
The VéGé Group has announced its 2017 results. It said turnover rose 3.4% in like-for-like terms and by 6.9% in total terms to €6.21bln at the end of 2017. The alliance of 29 retailers said it was its fourth straight year of growth. Growth was underpinned by store expansion, with VéGé Group operating 3,034 stores at the end of 2017, up from 2,380 at the end of 2016. In 2017 the VéGé Group joined Grupo IFA, as part of the latter’s internationalisation programme. In 2018 the VéGé Group said it believed its membership of IFA would help it drive revenue above €6.5bln.Source: retailanalysis.igd.com
UK: Co-op’s £15mln takeover bid for Costcutter rejected
The Co-op is understood to have attempted to acquire Costcutter in a continuing effort to consolidate, but saw its bid rejected. According to Sky News the Co-op made a £15mln takeover bid for the convenience store chain, which trades from around 1700 stores across the UK, several weeks ago. But Bibby Line group, which owns Costcutter, rejected the potential takeover move with sources stating it would consider bids of at least £50mln, well above Co-op’s attempt. It is understood that Bibby Line would welcome further talks in future, but for now any takeover discussions were inactive.Source: retailgazette.co.uk