Saudi grocer Othaim sales dip a year on from panic buying supermarket sweep
Saudi supermarket chain Abdullah Al Othaim Markets reported a 42% drop in first quarter profit, a year on from the early panic-buying days of the pandemic. Net profit fell to SR57.7mln ($15.4mln) for the first 3 months of the year from almost SR100mln a year earlier, the company said in a Tadawul filing. Sales fell 11.9% over the same period to about SR2.1bln.
Carrefour International Partnership signing a new partnership with Nordic Coops in northern Europe
Carrefour International Partnership and Nordic Coops are pleased to announce a new commercial Partnership which will focus on Private Labels. This Partnership will allow Nordic Coops to purchase Carrefour food and non food private labels, including French, Italian and Spanish food private labels, as well as developing common synergies for private label manufacturing. The geographical coverage of Coop Nordics includes Finland, Denmark, Norway and Sweden.
UK: New Asda owners offer to sell petrol stations to get deal clearance
Britain’s competition regulator is likely to accept an offer from the new owners of the Asda supermarket chain to sell 27 petrol stations to satisfy concerns that the takeover could lead to higher fuel prices, it said. Zuber and Mohsin Issa and private equity group TDR Capital completed their purchase of a majority stake in Asda from United States giant Walmart in February in a deal valuing the chain at 6.8bln pounds ($9.5bln).
France: Casino reports weak quarterly sales, considers GreenYellow listing
French retailer Casino said it was considering a stock market listing among the options for its GreenYellow renewable energy subsidiary as it seeks to cut debt. Revenue growth slowed sharply in the first quarter, with a 6.4% fall in sales on a same-store basis in Casino’s core French market, compared to a year ago when sales had surged in the first wave of coronavirus lockdown restrictions. Casino, which controls Brazil’s Grupo Pao de Acucar , posted first-quarter sales of 7.146bln euros ($8.61bln).
Chinese research report: JD recognized for its efforts in driving agriculture
JD is recognized by agricultural product merchants on its e-commerce platform for its efforts to help them unload unsalable products, market and promote products and foster e-commerce talent, according to a research report on the role online retail in promoting rural consumption, released by the China Council for the Promotion of International Trade (CCPIT) on April 27. Among the other recognized efforts are agricultural product after sales service, logistics service including cold chain and warehousing, and instructions on product packaging.
The pandemic has made online grocery shopping a lasting habit for Indians
Notorious for deal-hunting, the pandemic has made India’s online grocery shopping utility driven. Over 80% of those who purchased groceries online during the nationwide lockdown in 2020 did so for convenience rather than price or selection, according to Sukriti Seth, an analyst at Noida-based TechSci Research. This trend could help build a habit that would pay off in the long run. India’s online grocery market is poised to reach $24bln by 2025 (Rs1.8 lakh crore), accounting for 3% of the overall grocery sector, according to RedSeer consultancy.
France: Carrefour launches 500mln euro share buyback
French retailer Carrefour said it was launching a share buyback this week for a maximum amount of 500mln euros ($600.30mln), the first time in a decade it has bought back shares. The company had announced its plans for the buyback in April, citing its solid cash position following a strong performance during the COVID-19 pandemic in its main market, France.
US: How online natural retailer Thrive Market is going climate-positive
Thrive Market has always been an eco-conscious enterprise, offering foods made of real ingredients that are safe for the environment, delicious and fairly priced. Already, the e-retailer has committed to a no-air-shipping policy and utilizing all-recyclable shipping materials; it also recently earned B Corp certification. But Thrive Market isn't stopping there: The company recently announced a number of new initiatives that will further shrink its environmental footprint. According to chief marketing officer Jeremiah McElwee, Thrive Market has set a goal to be zero-waste certified in 2022, plastic neutral by 2023 and completely carbon negative by 2025.
US: Industry leaders to chair BPC’s new Food and Nutrition Security Task Force
As the COVID-19 pandemic has revealed the urgent need to reduce food insecurity in the United States, the Washington, D.C.-based Bipartisan Policy Center (BPC) launched the Food and Nutrition Security Task Force to improve access to healthy foods and diet quality for all Americans. Leading this one-year effort as co-chairs are Leslie Sarasin, FMI - The Food Industry Association President and CEO; world-renowned chef and founder of the humanitarian food relief non-profit World Central Kitchen José Andrés; and former U.S. Agriculture Secretaries Dan R. Glickman and Ann M. Veneman.
US: Natural Grocers by Vitamin Cottage announces second quarter fiscal 2021 results
Natural Grocers by Vitamin Cottage, Inc. announced results for its second quarter of fiscal 2021 ended March 31, 2021 and confirmed its outlook for fiscal 2021. Highlights for Second Quarter Fiscal 2021 Compared to Second Quarter Fiscal 2020: Net sales decreased 6.6% to $259.2mln; Daily average comparable store sales decreased 7.0%; Daily average comparable store sales on a two-year stacked basis increased 10.0%; Operating income was $6.7mln compared to $13.3mln; Diluted earnings per share was $0.21 compared to $0.43; Adjusted EBITDA was $14.1mln compared to $21.1mln; and Opened 1 new store and remodeled 1 store, resulting in a 2.5% new store growth rate for the 12-month period ended March 31, 2021.
US: Walmart creates new interactive healthy food experience for kids
Walmart is collaborating with Partnership for a Healthier America (PHA) and Higher Ground Productions to launch a new interactive experience that aims to show kids that healthy food can be fun. The interactive culinary adventure experience, The Hidden World of Waffles + Mochi, is based on the characters from the Netflix show, Waffles + Mochi. It is designed to inspire families to cook up fresh healthy foods through interactive recipes, games and video clips. When an activity is completed, a badge is awarded, which also unlocks a donation from Walmart to the PHA Pass the Love campaign. This is designed to help feed food-insecure families in the US.