US: Costco says it's getting a lift from coronavirus panic shopping
Costco logged strong sales growth during its latest quarter, as shoppers raced to stock up on cleaning products, household essentials and food as the coronavirus outbreak spread. The company said that sales at its stores open for at least one year, a key metric, increased 9.1% during its previous quarter compared with the same period last year. Sales at Costco in February were up 12.4% from a year ago. The company attributed around 3% of that to "an uptick in consumer demand" from concerns over coronavirus.
US: Tauriga Sciences, Inc. approved by Dutch retail conglomerate Ahold Delhaize to become a direct supplier
Tauriga Sciences, Inc. (“Tauriga” or the “Company”), a revenue generating company that operates through the development, distribution, and licensing of proprietary products as well as the evaluation of potential acquisition opportunities and equity investments, announced that it has been approved by the Dutch retail conglomerate Ahold Delhaize (“Ahold”) to become a Direct Supplier. As a result, the Company has established direct distribution channels to Ahold’s main U.S. based supermarket brands: Stop & Shop, Hannaford, Giant, Food Lion, and Peapod. Tauriga’s corporate profile, as well as products & product lines, are now accessible by Ahold buyers.
US: Kroger delivers on key 2019 commitments
Kroger reported its fourth quarter and fiscal year 2019 results: Fourth quarter identical sales without fuel grew 2.0%, digital sales grew 22%. Fourth quarter EPS of $0.40; adjusted EPS of $0.57, up 18.8%. Fourth quarter operating profit of $537mln; adjusted FIFO operating profit of $758mln, up 20.7%. Full year identical sales without fuel grew 2.0%, digital sales grew 29%. Full year EPS of $2.04; adjusted full year EPS of $2.19. Full year operating profit of $2.3bln; adjusted full year FIFO operating profit of $3bln. Full year cost savings of over $1bln. Full year alternative profit streams contribute over $100mln of incremental operating profit. Confirms identical sales without fuel, adjusted FIFO operating profit and adjusted EPS guidance for 2020. Kroger's 2020 guidance does not include any potential impact related to the Coronavirus.
US: BJ’s Wholesale Club Holdings, Inc. announces fourth quarter and fiscal 2019 results
BJ’s Wholesale Club Holdings, Inc. (the "Company") announced its financial results for the thirteen and fifty-two weeks ended February 1, 2020. Net sales increased by 1.5% for the fourth quarter of fiscal 2019 to $3.4bln and by 1.3% to $12.9bln for fiscal 2019. Comparable club sales, excluding gasoline sales, increased by 0.3% for the fourth quarter of fiscal 2019 and 1.3% for fiscal 2019. Net income was $187.2mln, or $1.35 per diluted share for fiscal 2019, reflecting 29% year-over-year growth. Adjusted net income was $203.4mln, or $1.46 per diluted share, for fiscal 2019, reflecting 10% year-over-year growth.
Philippines: Robinsons Retail report strong annual sales growth
Robinsons Retail has released a 22.8% growth in unaudited annual sales to PHP162.9bln (US$3.21bln). In its fourth quarter sales grew 14.4% and LFL sales were up 3.5%. Overall profitability declined by 24.9% due to a new accounting standard, however stripping this out, core income grew 9.5% to PHP5.1bln (US$0.1bln). The retailer's supermarkets sales grew 41.9% to PHP88.5bln (US$1.74bln), with LFL sales up 3.6%. Although LFL sales slowed against a benchmark of 7.6% in it FY18, the retailer attributed the slowdown to strengthening competition, the closure of Honestbee in the market and the integration of Rustan's. The trading period marks the first full year since the acquisition of Rustan's, which started on 1 December 2018. Therefore, Robinsons ended the year with 265 supermarkets; 213 of these focused on Metro Manila and Luzon, the rest in the Visayas (36) and Mindanao (16).
40% of Estonians order at local shops
Major international platforms like AliExpress and Amazon are the most popular online shopping channels among residents of Estonia. But still, slightly more than 40% of consumers in Estonia shop online at local ecommerce websites. Ecommerce in Estonia keeps on growing. The volume of online purchases that were done with bank cards has increased by over 50%, compared to the situation in 207, Estonian bank SEB announced. “Part of this growth has reached Estonian online sellers, whose market share of online shopping has increased to from 6% in 2017 to 11% by the end of 2019”.
UK: John Lewis Partnership to hand staff lowest bonus since 1953
John Lewis Partnership has said its staff will get a token bonus as new boss Dame Sharon White unveils the group’s financial results. The partnership is due to hand workers a bonus equivalent to 2% of salary, down from 3% last year. This means the average worker would get around £360. In its full year trading update for the 52 weeks ending January 25, John Lewis Partnership’s operating profits dropped by 23% year-on-year to £123mln, while pre-tax profit suffered a 25% year-on-tear decline to £146mln. Meanwhile, revenues declined 1.6% year-on-year to £10.15bln.
Poland: Carrefour opens ten new stores in the first two months of 2020
Carrefour Polska has announced that it has opened ten new franchise stores in the country in the first two months of the year, including four convenience stores in Warsaw. Convenience stores are witnessing a growth in the Polish market as customers are looking for high-quality products and faster shopping experience. The retailer collaborates with small and medium-sized Polish entrepreneurs to launch small-format, convenience stores.
UK: Sainsbury's keeps it cool with 400,000 energy-saving 'Formula One' fridges
Sainsbury's has completed the rollout of innovative energy-saving fridges across all its UK supermarkets and convenience stores, utilising technology originally designed to keep Formula One racing cars cool, the company announced. The retail giant said it had now installed 400,000 Aerofoil fridge across all its stores, helping to cut energy use from refrigeration across its UK estate by 15% and delivering annual carbon savings of almost 8,800 tonnes each year, it claimed.
India: Reliance Retail to acquire Tamil Nadu-based department store chain
Reliance Retail Ventures Ltd (a unit of billionaire Mukesh Ambani-led Reliance Industries Ltd) has acquired Coimbatore, Tamil Nadu-based Shri Kannan Departmental Store Pvt. Ltd to expand its operations in southern India. Reliance Industries said in a stock-exchange filing its subsidiary agreed to acquire Shri Kannan for Rs 152.5 crore ($20.81mln at current exchange rates). The acquisition will help Reliance Retail strengthen its operations in Tamil Nadu and enable new retail and commerce initiatives for the company, it added. Shri Kannan, which was incorporated in September 1999, sells perishables such as fruits, vegetables and dairy products. It also sells home, personal care and general merchandise. Currently, the chain operates 29 stores across Coimbatore and nearby areas, with cumulative retail area of 6 lakh square feet.
UK: Waitrose & Partners closure announcement
Waitrose & Partners reported: "Waitrose & Partners has taken the difficult decision to close our shops in Helensburgh in Argyll and Bute in Scotland, Four Oaks in the West Midlands, and Waterlooville in Hampshire. The details of the arrangements are not yet finalised, but the expectation is that Helensburgh will close in May and Four Oaks and Waterlooville will close in June. The 403 Partners working at these shops will now enter a period of consultation and as part of this Waitrose & Partners will explore opportunities within the Partnership for those who wish to remain with the business".