7-Eleven Franchisees Renew Call for Relief From 24-Hour Mandate
Following a request in early May, the National Coalition of Associations of 7-Eleven Franchisees again asked 7-Eleven Inc. to reconsider a mandate that all stores return to 24-hour operations on May 24 following a shortening of hours due to the pandemic. The coalition also cited the current pandemic-related labor shortage industrywide and throughout the retail and service industries. NCASEF—the advocacy group for 7-Eleven franchisees comprised of 41 independent franchise owner associations collectively with more than 4,400 members—has cited “a crippling labor shortage, higher operating costs, lower gross margin and lower net profit” as reasons why franchisees should be granted a waiver from returning to overnight operations.
Albertsons' Electric Trucks Hit the Streets
Albertsons accomplished what officials are calling the nation’s first zero-emission commercial grocery delivery today when a sleek new electric refrigerated tractor-trailer quietly backed into a loading dock at an Albertsons store in Irvine, Calif. The vehicle was one of two Volvo VNR electric trucks the Boise, Idaho company has welcomed to its fleet and was paired with an electric-powered refrigeration trailer from Advance Energy Machines. The combination enabled Albertsons to make the first commercial 100% zero-emission grocery delivery with a Class 8 truck in the U.S., and represents an exciting step toward achieving the company’s sustainability goals, Albertsons and Volvo said in a release.
Tata buys majority stake in India’s online grocer BigBasket
Tata Digital, a wholly-owned subsidiary of Tata Sons, has acquired a majority stake in Indian online grocery seller BigBasket. The announcement came after India’s antitrust body Competition Commission of India (CCI) approved the acquisition of up to a 54.3% stake in BigBasket by Tata Digital in March this year, as reported by PTI. Financial details of the transaction are not disclosed, but according to media sources, the deal is valued at approximately $1.31bn (Rs95bn).
Mercadona Earmarks €400m For Portuguese Unit
Spanish supermarket chain Mercadona has approved a €400 million investment in Irmadona, the company that manages its activities in Portugal. The amount is included in the 2020 accounts of Inmo-Alameda, a company owned by Mercadona’s president, Juan Roig, which controls 53.44% of the distribution company, according to Spanish daily El Economista. The additional funds will be used to boost Mercadona’s position in Portugal where it is still far from achieving the market share it has in Spain.
Caprabo Reports Progress In Supermarket Renovation Plan
Caprabo has announced that it is making progress in its plan to transform its supermarkets to the new generation model and expects to end 2021 with 80% of its network upgraded. The retailer added that 2021 will see the highest number of store renovations since the retailer started the strategic project in 2017. Throughout 2021, Caprabo will carry out renovation work in more than 70 stores. In 2021, Caprabo is set to invest approximately €13 million in the network renewal plan, which is progressing at the expected rate.
Japan's retailers expand in Vietnam as Korean peers retreat
While Japanese retailers are expanding in Vietnam, their Korean peers appear to be shrinking their presence in the Southeast Asian country amid the fierce competition, which is partially coming from local players. E-mart, South Korea’s largest retailer, is selling its business in Vietnam to Thaco, one of the country’s biggest private conglomerates and also a leading player in the local auto market. According to Korean media reports, the Korean giant’s board of directors had decided to sell a 100% stake in E-mart Vietnam Co. Ltd. to Thaco, which is headquartered in Ho Chi Minh City, where E-mart launched its first discount store in December 2015.
Lidl to invest 300 mln euro in stores in 8 cities in N. Macedonia
Discount retail chain Lidl, part of Germany’s Schwarz Group, intends to open supermarkets in eight cities in North Macedonia as part of a 300 million euro ($366 million) investment plan, North Macedonia's prime minister, Zoran Zaev, said. Lidl's first supermarket in North Macedonia will be in the capital Skopje, Zaev told a news conference streamed on the government's YouTube channel on Saturday.