China: Alibaba swings to net loss as $2.8bln antitrust fine weighs on earnings, but revenue beats forecast
Alibaba swung to a net loss in its fiscal fourth quarter as a massive antitrust fine it received last month weighed on its earnings. Last month, Alibaba got slapped with a 18.23bln yuan ($2.8bln) it received as a result of an anti-monopoly investigation into the tech giant.
Morrisons opens aisles to British entrepreneurs
Morrisons has launched a new programme called ‘Growing British Brands’ which aims to offer local entrepreneurs a fast-tracked route to selling their products nationally. The scheme will give businesses the opportunity to sell their products in all 497 Morrisons stores as well as listings in other parts of its business including its website and wholesale channels like Amazon. The supermarket will also offer promotional plans and “favourable payment terms” to help these firms scale up.
UK shopper confidence at highest level for 5 years: IGD
Shopper confidence in the UK has risen to its highest level for 5 years, new research from IGD has found, as lockdown measures ease and a vaccination rollout gains pace. According to IGD's ShopperVista research, consumers are putting increased focus on quality and 'trading up', driven largely by higher-income households, although the market has seen some polarisation, driven by a K-shaped recovery.
Poland: Eurocash wants to acquire Arhelan supermarket chain
The Office of Competition and Consumer Protection received a request from Eurocash regarding intent to take over Arhelan. The Arhelan chain consists of about 100 stores, most of them are in eastern Poland. According to the information available on the office’s website, UOKiK received the order on Monday. The focus is the Eurocash SA taking over its headquarters in Komorniki’s takeover of Arhelan Helena Burzyńska spółka komandytowa with its headquarters in Pelsk Podlaski. The information says: “the acquisition of joint control will take place through the acquisition of a share in the capital of the acquired company.”
Sonae says Portugal's recovery and resilience plan is a 'list of expenses': report
Portuguese company Sonae's chief executive Cláudia Azevedo believes that the Portuguese Recovery and Resilience Plan (RRP) is a "list of expenses" and "not an ambition for the country", according to a media report. In April of this year, Portugal submitted a pandemic recovery plan to the European Commission and was the first among European nations to do so.
UK: Ryders joins forces with Zapiet to provide exclusive national same-day delivery for Shopify merchants
Ryders, fast becoming a disruptive force in the UK’s last-mile delivery market, announced it has signed a partnership with Zapiet, Shopify’s leading recommended in-store pickup and local delivery solution, to provide same-day delivery capabilities in Britain for thousands of Shopify merchants.
Germany: REWE collaborates with EG Group to test new store concept
REWE group and the EG Group are testing a new store concept under the name REWE express at four Esso petrol stations in Munich and Freiburg. The pilot project commenced on 12 May with the opening of the Esso Station Ungerer Str. in Munich. The remaining locations in Munich and Freiburg are to open by the beginning of July, the retailer added.
UK: Shoppers’ Covid fear sees rise in single-use plastic
Shoppers’ fears about catching Covid-19 could undo years of campaigning against single-use plastic. Supermarkets are seeing the rise of single-use plastic bags, particularly in the fresh produce sections, says plastic waste collection company Divert.co.uk.
SPAR Denmark partners with Too Good To Go
Retail giant SPAR has partnered with food waste management group Too Good To Go to combat food waste across all of its stores in Denmark. The collaboration will see the retailer reduce food waste by up to 144 tonnes per year.
Japan: 7-Eleven owner sees shares soar after investor takes stake
The owner of the 7-Eleven convenience chain, Seven & i Holdings, said that shares in the business hit a 2-year high after Reuters reported activist investor ValueAct Capital took a stake in the Japanese business, signalling a potential shake-up at the retail giant.
Mexican grocer Grupo Comercial Chedraui to buy Smart & Final Holdings in $620 mln deal
Grupo Comercial Chedraui said its unit would buy warehouse store business Smart & Final Holdings Inc for $620mln, including debt, as the Mexican grocer looks to expand its footprint in the United States. Private equity firm Apollo Global Management Inc is selling Smart & Final to Grupo Comercial Chedraui’s (GCC) subsidiary Bodega Latina Corp. The deal is expected to close in the second or the third quarter, pending U.S. and Mexican regulatory approvals and other customary closing conditions.
US: DoorDash shares rise as delivery company boosts outlook, investors shrug off driver shortage
DoorDash reported a loss of 34 cents per share on revenue of $1.08bln for its first quarter. The company said that delivery drivers were in short supply but consumer demand was stronger than expected. The company raised its 2021 forecast for gross order value to between $35bln and $38bln.
US: Meijer opens new supercenters in Ohio and Indiana
Meijer opened 3 new supercenters across the Midwest, Meijer President & CEO Rick Keyes announced. Located in Seven Hills and Boardman, Ohio, and Westfield, Indiana, the 155,000-square-foot stores offer a state-of-the-art shopping experience, providing customers multiple ways to shop in a specialty store environment.
US: Kroger to add fulfillment space for grocery delivery in Northeast Florida
According to a local news report, The Kroger Co. is planning a new Florida location for fresh grocery delivery fulfillment. The Jacksonville Daily Record cites public records showing that the Kroger Fulfillment Network, LLC received a permit to build out a 62,208-square-foot space in that city. A Kroger spokesperson later acknowledged the plans.
US: Giant Food releases first Better Neighbor Report
Giant Food announced the release of its first Better Neighbor Report, a comprehensive account of 2020's giving, partnerships and innovation as part of its efforts to consistently be a Better Place to Shop, a Better Place to Work and a Better Neighbor to the individuals and communities it serves.
US: The Kroger Co. Zero Hunger | Zero Waste Foundation announces second Innovation Fund cohort
The Kroger Co. Zero Hunger | Zero Waste Foundation ("Foundation") announced the second cohort of its Innovation Fund ("Fund"). From a pool of more than 145 applicants, the Fund selected 10 startups to receive a total of $2.5mln in funding to launch innovative new consumer products made with surplus food or food byproducts and technologies to advance the upcycled food industry.