US: Hormel Foods releases Q2 results, record sales noted
Hormel Foods Corporation reported results for the second quarter of fiscal 2020. All comparisons are to the second quarter of fiscal 2019 unless otherwise noted. "As a global branded food company, we play a critical role in providing safe, high-quality food during this challenging time," said Jim Snee, chairman of the board, president and chief executive officer. Our financial results this quarter demonstrate the value of our balanced business model and our team's ability to react to a rapidly changing environment," Snee said. “We will continue investing in our leading brands such as SPAM®, SKIPPY®, Jennie-O®, Hormel® Natural Choice® and Applegate®. "
For the full Q2 results, click here.
US: Lidl set to open 100th U.S. store
Next week, hard discount grocer Lidl plans to open its 100th U.S. location in Suwanee, Ga. Plans call for Lidl to hold a soft opening at the Suwanee store — with no ribbon cutting — to maintain social distancing for customers and employees. In line with the company’s coronavirus safety measures, the store will operate under adjusted hours of 8 a.m. to 8 p.m. Monday to Sunday. “Next week’s opening represents an important milestone in our mission to deliver outstanding quality products at the lowest possible prices to our customers in the United States,” Roman Heini, chairman of Arlington, Va.-based Lidl US, said in a statement. “We plan to continue to build new stores, ramp up our hiring efforts and expand our network of distribution centers to reach even more customers in the years ahead. We look forward to forging new and strong relationships with everyone who helps make our journey possible.”
US: ‘Target and Walmart are leading a retail revolution’
eCommerce is evolving at an incredible speed, but it’ll be up to the giants like Walmart, Target and Costco to lead the way. So says Oliver Chen, Managing Director and senior equity research analyst covering retail and luxury goods for investment bank Cowen, who argues that many of the COVID-19-inspired changes to retail are here to stay, which could already be foreseen by the growth of online commerce in the stock market. “Amazon has an incredible head start but the recent leaps forward from the likes of Walmart and Target are clearly significant,” he stated to CNBC. “We’re excited about Target and Walmart. Target had 140 per cent digital growth, that’s really impressive. And this whole theme of bifurcation: clearly the malls, JC Penney, apparel, it’s quite apparent. Month-to-month volatility has been a risk factor, too. But we like Walmart, Target, Costco.”
Whole Foods-anchored retail in Coral Gables sells for $47M
A fund managed by Zurich Alternative Asset Management purchased the Whole Foods-anchored retail portion of a building in Coral Gables, as demand for South Florida’s grocery-anchored shopping centers continues to be strong. The Zurich-managed fund paid $46.75 million for the nearly 60,000-square-foot retail share of Plaza San Remo, The Real Deal has learned. Prudential Insurance Company of America sold the commercial condos at 6701 Red Road, property records show. JLL’s Danny Finkle, Luis Castillo and Eric Williams represented the seller. In addition to Whole Foods, other tenants include Pediatric Associates and Oxxo Care Cleaners. The price breaks down to $783 per square foot.
UK: Whitchurch's new Aldi store to open after coronavirus postponement
A supermarket chain is set to finally open its new Shropshire branch, after coronavirus meant its initial opening was postponed. The Aldi store in Whitchurch was due to open on April 2, but it had to be postponed due to the coronavirus outbreak and social distancing rules. The store on Wrexham Road is now set to open June 4, at 8am, bringing 15 job opportunities to the area. Store Manager, Hayley Rogerson, said: "We’re looking forward to opening the new Aldi store here in Whitchurch and giving the local community access to the everyday essentials they need during this challenging time. It will be lovely to welcome local customers in to store to introduce them to Aldi’s everyday amazing products."
Source: Shropshire Star
Poland: Spar sees Polish business breaking even in 24 months
The group will consider the annual dividend at year-end when there is more clarity on the impact of the pandemic. Image: ShutterstockThe group will consider the annual dividend at year-end when there is more clarity on the impact of the pandemic. South Africa’s Spar Group expects its Polish business to break even in the next 24 months and deliver €160 million (R3.09 billion) of full-year turnover, after losses there weighed on half-year earnings. The grocery chain and wholesaler has been expanding in Europe to offset weaker consumer spending at home. It completed the acquisition of a controlling stake in Polish deli and supermarket chain Piotr i Pawel group in October. Group chief executive Graham O’Connor told analysts during a results presentation that he expects that business to deliver turnover growth of €280 million (R5.4 billion) in the 2021 financial year, €350 million in 2022 and €400 million in 2023.
AU: Australia's Wesfarmers to shut or rebrand over 100 Target stores in virus slump
Australian retail giant Wesfarmers Ltd said it will close or rebrand nearly two-thirds of its Target department stores and take one-off charges totalling up to A$650 million ($426 million) as it reels from the coronavirus fallout. The move strikes a blow to what was once among Australia’s most durable retail brands and reflects the urgency of brick-and-mortar stores around the world to adapt as sweeping virus-related curbs on movement keep shoppers at home. With 284 stores nationwide, Target is the country’s largest department store network but its owner fast-tracked a review of operations in April after the shutdown intended to contain the virus accelerated a sales slump. Wesfarmers said it will convert up to 92 Target stores to its low-cost Kmart department store chain, and shut up to another 75 Targets, leaving as few as 117 Target outlets.
Buymie delivers first UK same-day online grocery service in partnership with Co-op
Buymie has teamed-up with Co-op to offer same-day home grocery deliveries across Bristol. The move is the first partnership in the UK for Ireland-based Buymie, whose mobile app allows customers to book same-day, tailored grocery deliveries straight to a customer’s front door. Buymie first came to the market in Dublin, Ireland, where it has become the market-leader in same-day grocery delivery. The same-day delivery service will be available to over 200,000 households across Bristol and its surrounding suburban area, and BuyMie expects to create 200 personal shopping jobs over the next six months. Users of Buymie’s app can select from around 4,000 Co-op products, and select a convenient delivery slot. There is no limitation on basket size. A personal shopper is then appointed, allowing for seamless communication during the shopping process, and ensuring the best substitutions and highest quality fresh produce are selected.
Amazon launches Morrisons store on Prime Now for food shoppers in Dartford, Gravesend and Strood
A major supermarket is expanding its Amazon same-day food delivery service to more locations in response to growing demand amid the pandemic. Morrisons has teamed up with the computing giant to extend its Prime Now services to Dartford and the surrounding areas, including Gravesend, Ebbsfleet, Erith and Strood. The fast same-day online delivery option is already available to Amazon Prime members across UK cities but is now being rolled out to areas of north Kent. It will see customers in those areas be able to order their Morrisons shop online or via the app, which is then collected at a local Morrisons store and delivered by Amazon. They can choose from thousands of products including fruit and vegetables and the supermarket expects it will soon be able to add chilled and frozen items to the list. Shoppers can then select from different delivery options, including same-day delivery at no additional cost within a two-hour window between 8am and midnight.