US: Instacart targets up to $9.3bln valuation for much-awaited US IPO
Instacart set a target of up to $9.3bln in valuation on fully diluted basis in its hotly anticipated U.S. initial public offering, much cheaper than the price tag it had fetched in its last funding round.
Source: reuters.com
US: Kroger taps the brakes on automated fulfillment center rollout
The grocery chain plans to hold off on building new e-commerce sites with Ocado “until we make sure that we have a clear path on the ones we have”, Chairman and CEO Rodney McMullen said.
Source: grocerydive.com
KKR raises stake in Indian billionaire Ambani's Reliance Retail with $250mln
KKR & Co Inc has increased its stake in Indian billionaire Mukesh Ambani's Reliance Retail Ventures by investing an additional $250mln at a valuation of $100bln, adding to its bet on the country's biggest retailer.
Source: reuters.com
Romania's competition body: restrictive mechanism dragged down food prices in August
The average prices of basic foods targeted by the ordinance capping commercial additions fell by up to 49% in large store chains in August of this year compared to June of 2023, according to data analyzed by the Competition Council. The decrease was more moderate, though, of only 5%-15% for the goods with lower seasonality, the institution said in a press release quoted by Economedia.ro. The biggest reductions were recorded in fruits and vegetables: the average price of plums fell by 49% and that of grapes by 47%, while tomatoes, onions, yellow peppers, carrots and potatoes fell by 31% to 37% in August 2023 compared to June 2023.
Source: romania-insider.com
Carrefour divests meal box branch
French hypermarket giant Carrefour wants to focus to its core business and has therefore decided to sell its meal box subsidiary, called Quitoque in its home market and Simply You in Belgium.
Source: retaildetail.eu
Philippines: Find Luzon veggies on NVAT online platform
Cheaper upland and lowland vegetables from Luzon are now available online through a “trailblazing” joint project of the United States government, the Department of Trade and Industry, and farmers and entrepreneurs from Nueva Vizcaya. Tomatoes, which have skyrocketed to P150-220 per kilo this week, are available at P130 only through the e-commerce platform entitled NVAT Fresh Online Platform (NVATFresh.com).
Source: businessmirror.com.ph
Lidl Denmark, Dagrofa to acquire former Aldi stores from REMA 1000
Discount chain Lidl plans to expand its presence in Denmark with the acquisition of 10 former Aldi stores through REMA 1000. The stores included in the deal are located in Slagelse, Stege, Væggerløse, Bjerringbro, Brande, Esbjerg, Hirtshals, Holstebro, Viborg and Aabybro, the company said in a statement. Dagrofa plans to acquire seven stores from REMA 1000 in Grenå, Risskov, Esbjerg Ø, Esbjerg V, Tønder, Herning and Helsingør.
Source: esmmagazine.com
Junk food and alcohol dominate Aussie diets, with only two in five getting enough veg, CSIRO finds
Only two in five Australians are eating enough vegetables, a report by the CSIRO has revealed. The CSIRO Healthy Diet Score report surveyed more than 235,000 Australian adults over eight years. It found only 35% of the population is eating enough vegetables and that alcohol, takeaway food, and confectionary dominate diets.
Source: abc.net.au
Maxima Grupė sees revenue up by almost a fifth in first half
Maxima Grupė has reported an 18% year-on-year increase in revenue to €2.8bln in the first six months of its financial year. EBITDA for the period amounted to €233.9mln, while EBITDA margin reached 8.2%.
Source: esmmagazine.com
French watchdog fines Rallye and its CEO for market manipulation
France's financial watchdog AMF has fined the holding company Rallye and its chief executive Franck Hattab for market manipulation, it said. AMF issued a fine of 25mln euros against the holding company, which is the parent of the troubled supermarket chain Casino, and a 1mln euro fine against the CEO.
Source: reuters.com
A rise in shoplifting has Australian supermarkets ramping up surveillance
As one criminologist noted, an Australian supermarket only found out how big the issue was after discovering it was selling far more carrots than it had in stock. It became apparent some shoppers were scanning more expensive items as carrots to save significant sums.
Source: theguardian.com
UK grocery inflation cools to lowest level in a year - Kantar
British grocery inflation eased to its lowest level in a year heading into September, industry data showed, providing some relief for consumers hurt by high prices and for the government, which has pledged to bring prices down. Market researcher Kantar said annual grocery inflation was 12.2% in the four weeks to September 3, down from 12.7% in its August report.
Source: reuters.com
Introducing Japan's first ever e-commerce platform for the international community: Farmers Marche Japan
Farmers Marche Japan is proud to announce the launch of an innovative e-commerce platform catering exclusively to the needs of Japan's diverse international community. Committed to enriching the culinary experiences of international residents, the platform offers a wide range of fresh vegetables, fruits, and processed foods, all delivered right to your doorstep.
Source: japantoday.com
Pepco Group CEO resigns; firm lowers EBITDA guidance
European discount retailer Pepco Group said that CEO Trevor Masters will resign from the role with immediate effect, without providing a reason for the decision. Andy Bond, chair of the board of directors, will assume the role of executive chair and will lead the overall management of the company until a new CEO is appointed, the company said.
Source: reuters.com