Russia: X5 Retail Group reports revenue growth of 14.1% in FY 2020
Russian retailer X5 Retail Group has reported a 14.1% year-on-year growth in revenue, to RUB1,978bln (€22.5bln), in full-year 2020 from RUB1,734bln (€19.7bln) in 2019. Net retail sales grew by 14.2% year-on-year, driven by a 5.5% increase in like-for-like (LFL) sales and an 8.7% sales growth from an 8.3% rise in selling space.
Australia: Coles sets out its new approach to sustainability
Coles has released a new climate change position statement, a refreshed sustainability strategy and launched its newest next generation sustainable supermarket at Moonee Ponds, Melbourne. The new statement showcases Coles' commitment and governance as a leading Australian business to tackle climate change. Alongside this its refresh sustainability strategy, named 'Together to Zero', sets out some ambitious targets to tackle climate change and will see the retailer accelerate its efforts in this space.
Nigeria: Bolt to tap into food delivery market
Bolt, the Estonian ride-hailing business, is launching a new food delivery service in Nigeria. The company is looking to develop partnerships with local businesses in order to run its projects. With its market entry, the company wants to take advantage of a meal delivery market that has been boosted by restrictions linked to the coronavirus. Bolt will face competition from other established players in this segment such as Jumia Foods, which boasts over 20,000 drivers within Nigeria.
Tops Market launched in Vietnam
Central Retail Vietnam, which operates Big C, has launched Tops Market in Ho Chi Minh City. 3 Big C supermarkets in Ho Chi Minh City (Big C An Phu, Big C Thao Dien and Big C Au Co) were officially rebranded to Tops Market in March. 4 other Big C supermarkets in Hanoi will be renamed in the third quarter of this year. In addition, 5 Big C hypermarkets located in shopping malls have been rebranded to GO! The retailer has been developing new GO! hypermarkets since 2018 to bring a new and modern experience to shoppers.
Germany: Schwarz offers asset sales to allay EU concerns about Suez unit buy: source
German retailer Schwarz Group has offered to sell assets to address EU competition concerns about its bid for French waste and water management company Suez’s recycling business, a person familiar with the matter said. Schwarz, whose PreZero environmental division is making the acquisition, put in its offer to the European Commission, a filing on the EU competition watchdog showed. Schwarz was not immediately available for a comment. Schwarz owns German retail chains Lidl and Kaufland.
Russia: Supermarket Lenta plans to double in size in the next 5 years
Russian supermarket chain Lenta has big plans for the next 5 years. The third-largest chain in Russia, the company says that it intends to double in size to earn at least $13bn in revenues in the next 5 years by opening hundreds of small format stores and buying up smaller rivals.
UK: Co-op franchise opens first service station store
Co-op has launched its first franchise store at a service station, with the opening of Co-op Cornwall Services. The new 2000sq ft store, located off the Victoria Interchange junction off the A30, will be open between 7am-10pm seven days a week.
France: Casino launches its own cryptocurrency
Groupe Casino has joined a consortium working on the creation of a cryptocurrency. The new currency could be used as a means of payment in the French retailer's branches within 1 to 2 years. Apart from Casino, the consortium would also include Société Générale and the broker Coinhouse. LSA reports this based on information from the specialist newsletter 21 Millions. The new coin has been named Lugh and is a so-called stablecoin. Franprix, Monoprix, Leader Price and Cdiscount are believed to be showing a strong interest in their parent company's plans.
CU retakes top spot in Korean discount-store rankings
CU has recaptured its position as South Korea’s largest convenience-store network last year, after losing the title in 2019. CU, operated by BGF Retail, had 14,923 outlets across the nation as at the end of last year, 1046 more than the previous year making it the largest network among local industry players, according to the data from the Financial Supervisory Service and industry sources.
US: Kroger customers rewarded in stock spend more at grocer
Fintech company Bumped has released data from its two-year pilot showing that turning grocery customers into owners can boost visits and spend. Bumped users who received fractional shares of stock for their spending with The Kroger Co. banners such as Fred Meyer, Food 4 Less, Harris Teeter, King Soopers, QFC and Ralphs subsequently shopped those stores an average 31% more often, and spent an additional 32% monthly. That means that customers are spending $73.94 more at the grocer’s banners store each month once they become owners.
US: Low tips, long waits: DoorDash takes on drivers' Walmart gripes
Third-party delivery firm DoorDash Inc is taking steps to address what it says are frustrations from independent drivers toting Walmart Inc merchandise and grocery orders, including low customer tips, the company confirmed to Reuters. The world’s largest retailer in recent years has bolstered its partnerships with same-day third-party courier firms, including DoorDash, to reach consumers in and around scores of U.S. cities and better compete with Amazon.com Inc.
US: Giant Co. debuts stunning urban flagship in Philadelphia
The Giant Co. has unveiled a stunning new format in Philadelphia featuring everything on the wish list of every urban grocery shopper. The two-level store, located at 60 N. 23rd St., is the company's latest to open in the city, and the modern features are almost too many to mention.