Russia: O'Key Group’s board approves GDR listing on Moscow exchange
Russian food retailer O'Key Group has announced that its board of directors has approved the its plan to apply for a listing of O'Key’s global depositary receipts (GDRs) on the Moscow Exchange. The company expects to commence trading in Moscow from December 2020.
Southeast Asia's internet economy to cross $100bln this year: industry report
Southeast Asia’s internet economy will hit $105bln this year, as the coronavirus crisis prompted stuck-at-home consumers to go online to shop, get food delivered at home and for entertainment purposes, an industry report said. The report, which covers Indonesia, Malaysia, Vietnam, Singapore and the Philippines, said the region added 40mln new internet users this year, taking the total to 400mln. That implies 70% of the region’s population is now online, the report added. “The coronavirus has brought about a permanent and massive digital adoption spurt,” stated the report by Google, Singapore state investor Temasek Holdings and business consultants Bain & Co.
UK: Waitrose launches counter offensive with dot com expansion
With fresh reports of supermarkets closing their counters in recent days, Waitrose commits to the long term future of its food service counters in-store in efforts to reassure its suppliers who rely on it and customers who love the choices offered. The supermarket has also unveiled plans to expand to more online customers by relaunching its fish and meat counter range on Waitrose.com at the beginning of 2021.
UK: Poundland unveils store opening programme
Poundland has revealed that it will be opening 10 new stores in the UK and Ireland before Christmas as part of a wider expansion and transformation programme. The new stores - 7 under the Poundland banner in the UK and 3 under Dealz brand in Ireland - are the first in 45 additional outlets planned by the discount retailer over the next 12 months in an investment of more than £15mln.
JD.com wants a network of 5mln stores as e-commerce battle heats up
Chinese retailer JD.com plans to aggressively expand its brick-and-mortar reach - aiming for a network of 5mln physical stores in the next 3 years - as China’s e-commerce companies sharpen their competition for consumers in smaller Chinese cities. Xu Lei, chief executive of JD Retail, said the company is “aware that China’s retail market is huge”. But he added that JD’s business model can have limitations and he therefore wants to “build offline stores on our own and partner with existing players”.
Nordrheinische invests €130mln in Spanish supermarket assets
German pension fund Nordrheinische Ärzteversorgung (NAEV) has invested €130mln in a portfolio of six hypermarket assets in northern Spain. Announcing the deal, specialist retail property manager Pradera said it has completed the acquisition of the fully-let 56,158sqm portfolio on behalf of NAEV, whose real estate fund is administered by Universal-Investment Luxembourg. The portfolio is let to Spanish supermarket chain Eroski. Pradera said it has been retained by Universal to manage the portfolio.
DIA Q3 2020 results
DIA Group, (“DIA” or “The Group”) an international food retailer that operates in Spain, Portugal, Brazil and Argentina, issued its financial results for the third quarter and nine months 2020. 3Q20 Financial Highlights (all figures in €) Net Sales: 1,679mln (3Q19: 1,638mln), up 2.5% thanks to ongoing transformation efforts and despite smaller store network and significant currency effects. Like-for-Like: continued strong growth of 6.3% driven by 25.3% increase in average basket size, more than offsetting 15.1% decrease in number of tickets. Gross Profit: 366mln (3Q19: 344mln) up 0.8% as a percentage of Net Sales, supported by increased sales volumes and positive operational improvements.
Carrefour Brasil reports 73% jump in quarterly adjusted net income
Reuters: Carrefour Brasil reported adjusted net income of 757mln reais ($140mln) for the third quarter, an increase of 73.1% from the year-ago period thanks to strong sales growth and cost controls. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.6% to 1.34bln reais, while the profit margin narrowed to 7.7% from 8.2% a year earlier due to exceptional provisions, the company said in a filing.
US: Southeastern Grocers debuts 4 more Winn-Dixie stores
Southeastern Grocers Inc. (SEG) celebrated the November 11 grand openings of 4 new Winn-Dixie stores in Boynton Beach, Gainesville, Jacksonville and Lakewood Ranch, Florida. The store openings were first revealed last month. “We are beyond excited to unveil our 4 new Winn-Dixie stores to the wonderful communities of Boynton Beach, Gainesville, Jacksonville and Lakewood Ranch”, said SEG President and CEO Anthony Hucker.
US: Meijer fleet regarded nationally as industry leader for sustainability by EPA
For the third consecutive year, Meijer is recognized as a SmartWay® Excellence Award winner as a mixed carrier by the U.S. Environmental Protection Agency (EPA). In fact, the Grand Rapids, Michigan-based retailer's fleet is the only four-time recipient of the distinct honor nationwide in the mixed carrier category, said Tom McCall, Vice President of Logistics for Meijer.
Amazon announces first fulfillment center in Republic, Missouri
Amazon.com, Inc. announced plans to open its first fulfillment center in Republic, Missouri. The new fulfillment center, which is anticipated to launch in 2021, will create over 500 new, full-time jobs with industry-leading pay and comprehensive benefits starting on day one.
US: Wisconsin Teamsters put at risk by Kroger
On Tuesday, November 10, Wisconsin Governor Tony Evers (D), signed Executive Order 94 in response to the record setting surge of COVID-19 cases impacting Wisconsinites. Earlier the same day, Kroger without any announcement to Local 200, increased their work force with 75 non-union workers and growing, creating conditions in an already congested warehouse that place Local 200 members and their families at risk.