China’s top e-commerce firm, Alibaba Group Holding Ltd [BABA.N], is launching a $15bn (£13.43bn) drive to build overseas research hubs as the deep-pocketed firm looks to compete with global leaders in e-commerce, logistics and cloud technology. The Alibaba ‘Damo’ academy would launch eight research bases in China, Israel, the United States, Russia and Singapore. (Reuters)Walmart is doubling down on grocery to fight Amazon
As competition in the grocery space heats up, Walmart isn’t ceding any ground to Amazon saying shoppers will be able to pick up online grocery orders at 1,000 more stores in the U.S. starting next year. Company executives told investors Tuesday that grocery is key to hooking shoppers who may then go on to purchase the cosmetics, clothing and various other products that fill Walmart's shelves. “If you could offer fresh produce ... with the very best prices, with a really good experience, whether it be pick up or delivery, then you have a good chance to build a long standing relationship that you can then leverage to sell the rest of general merchandise,'' Marc Lore, president and CEO of Walmart eCommerce U.S., said at the annual investors meeting in Bentonville, Ark. (usatoday.com) US: Walmart sees 40% online sales growth next year
Wal-Mart on Tuesday forecast a 40% rise in U.S. online sales next year as it ramps up competition with Amazon.com, boosting shares of world’s biggest brick-and-mortar retailer to the highest in more than two years. Wal-Mart also forecast overall net sales would rise by at least 3% in the year ending January 2019, and said it would buy back $20bn of its shares over the next two years. (Reuters)CA: Sobeys cutting dozens of executive jobs
Sobeys is giving the axe to dozens of its execs across the country in a much-anticipated move by the Nova Scotia-based national grocer to slash its costs and beef up the bottom line. “We do expect to see additional colleagues leaving the organization through the final stages of the restructuring process in all of our major corporate offices across the country,” said Jacquelin Corrado, Sobeys’ director of external communications, Tuesday. (ngnews.ca) Cencosud’s Q2: stronger sales
Cencosud has seen an improved performance in Q2 2017. • Cencosud overall business +3.2%
• Supermarkets overall +1.9%
• Argentina +5.0%
• Chile +3.9%
• Brazil +1.0%
• Peru -3.0%
• Colombia -3.5%
(Reuters)
German EDEKA completes the conversion of Tengelmann
EDEKA Südbayern has successfully completed the integration of the Tengelmann supermarkets. This week, the two last Tengelmann supermarkets were converted, of the more than 170 locations in the southern Bavaria region, to the EDEKA brand. The takeover of the Tengelmann branches has led to a completely new store concept in the EDEKA range. About 50 locations will become EDEKA xpress supermarkets. These smaller corner stores, fewer than 600 square meters, and their assortment, will meet the shopping habits of customers living in cities and can be found in Munich, Starnberg, Freising, Augsburg as well as in Bad Tölz. (Edeka-Verbund)Macron delays decision on French retail price increases
French President Emmanuel Macron has delayed until year-end a proposal by retailers to raise regulated minimum prices as he seeks guarantees it will meet his promise to boost farm income while minimising retail inflation, his office said on Tuesday. Macron is due to give a summary of the first achievements of his so-called Food Convention on Wednesday at the Rungis food market near Paris, looking to appease farmers who had complained of their squeezed margins. (Reuters)Cyber attack hit Irish supermarket giant Musgrave
Detectives are investigating a cyber attack on some of the island of Ireland's most popular supermarket chains. Criminals attempted to get credit and debit card details of shoppers who use stores owned by grocery company Musgrave. Musgrave said the attack targeted its SuperValu, Centra, Daybreak and Mace stores. (independent.ie) Tesco's UK forecasts changing overnight in 2014, court told
Tesco had become such a complex business by 2014 that internal forecasts for its UK grocery business were changing overnight, a London court heard on Tuesday. Amit Soni, a senior accountant at Tesco, was giving evidence for a fifth day at the trial of three former senior executives at Britain’s biggest retailer who are accused of fraud and false accounting in 2014. Please, click here to read more at reuters.com. 7-Eleven plans new openings in Singapore
With the termination of its deal with Shell, 7-Eleven will close 54 forecourt stores by early next year. In preparation for this, the retailer already has 30 new store openings this year, and another 50 planned for next year. There are currently 422 7-Eleven convenience stores across the island. (igd.com)Penny Market to open seven new supermarkets in Liguria
German discounter Penny Market will this week open seven new supermarkets in Italy’s Liguria region that it acquired from grocery retailer Dico, according to La Stampa. The new stores are located in Arcola, Casarza Liguria, Finale, Genoa Pegli, Imperia, Sanremo and Borghetto Santo Spirito. Penny Market said that the stores, previously branded as Tuodì, will be remodelled and adapted to Penny's Ambiente 3.0 concept. (esmmagazine.com)Germany: HelloFresh aims for IPO
HelloFresh, the meal-kit startup owned by Rocket Internet SE, aims to announce an initial public offering in the second half of October as the German company tries to distance itself from the post-IPO flop of Blue Apron Holdings Inc., people familiar with the matter said. (Bloomberg)Lidl expanding as it invests €350m in Spain
Underlining the increasingly competitive nature of the Spanish market, Lidl is continuing its expansion in the country as part of its previously announced plans – from July – to open a further 40 stores in the country by the end of 2017. The company said it was planning to invest €350m in the country as part of the step, which if taken, will see it invest 33% more in Spain than it did in 2015 and sustain its long term investment plans for the market. (igd.com)