US: ALDI named retailer of the year
"Our acquisition of Winn-Dixie and Harveys Supermarket is a unique opportunity to accelerate our growth plans and bring us closer to our customers in the Southeast, a key market for us," says ALDI CEO Jason Hart, one of several key senior ALDI executives speaking to Progressive Grocer, which chose the company as its 2023 Retailer of the Year.
Source: progressivegrocer.com
Canada: Loblaw reports 2023 third-quarter results
Loblaw Companies Limited ("Loblaw" or the "Company") announced its unaudited financial results for the third quarter ended October 7, 2023. 2023 third-quarter highlights: revenue was $18,265mln, an increase of $877mln, or 5.0%. Retail segment sales were $17,982mln, an increase of $852mln, or 5.0%.
Source: loblaw.ca
US: The Giant Co. continues home-state footprint expansion
The Pennsylvania-based retailer is expected to begin construction in 2025 on a nearly 68,000-square-foot grocery store to be located in Salisbury Township in Allentown, Pennsylvania.
Source: winsightgrocerybusiness.com
Canada: METRO reports 2023 fourth-quarter results
METRO INC. announced its results for the fourth quarter of fiscal 2023 ended September 30, 2023. 2023 fourth quarter highlights: 13-week quarter versus 12 weeks in 2022. Sales of $5,071.7mln, up $14.4%. Net earnings of $222.2mln, up 31.7%, and adjusted net earnings of $228.8mln, up 4.3%.
Source: newswire.ca
US: Target's tricky 3rd quarter
It was a mixed bag at Target Corp. during the recently-concluded third quarter. Sales and revenue were down, but profits beat expectations set by both the company and outside analysts. According to Target's latest financial report, sales comps dipped 4.9% on a year-over-year (YoY) basis, while revenue slid a similar 4.2% to reach $25.4bln. Digital sales for the quarter were off 6% compared to last year.
Source: progressivegrocer.com
Germany: HelloFresh falls most since IPO after warning on profit
HelloFresh SE shares fell the most on record after the German meal kit delivery company issued a profit warning due to supply issues and delays in its US ramp-up. Shares fell as much as 21% to €16.13 in Frankfurt, the biggest drop since its 2017 initial public offering. HelloFresh said its adjusted earnings before interest, taxes, depreciation, and amortization this year would be €430mln to €470mln ($466mln to $510mln), down from a previous range of €470mln to €540mln.
Source: bnnbloomberg.ca
UK: University of Reading fruit and veg voucher study launches
Scientists are looking into whether fruit and vegetable vouchers could improve the health of poorer families. The University of Reading has worked with the Whitley Community Development Association (CDA) on the government-funded study.
Source: bbc.com
China: JD.com announces third quarter 2023 results
JD.com, Inc., a leading supply chain-based technology and service provider, announced its unaudited financial results for the three months ended September 30, 2023. Third quarter 2023 highlights: net revenues for the third quarter of 2023 were RMB247.7bln (US$134.0bln), an increase of 1.7% from the third quarter of 2022. Income from operations for the third quarter of 2023 was RMB9.3bln (US$1.3bln), compared to RMB8.7bln for the same period last year.
Source: globenewswire.com
Bulgarian government kicks off initiative to offer lower prices on basic goods
The Bulgarian government has launched an initiative that will see shoppers enjoying lower prices on a variety of basic goods at participating grocery stores, according to media reports. The products will span seven food groups, including vegetables, fruits, proteins, and other essentials.
Source: esmmagazine.com
Nigeria: Jumia reports third quarter 2023 results
Jumia Technologies AG ("Jumia" or the "Company") announced its financial results for the third quarter ended September 30, 2023. Results highlights for the third quarter of 2023: revenue of $45mln, down 11% year-over-year, and up 19% in constant currency. GMV of $181mln, down 25% year-over-year and down 3% in constant currency. GMV of physical goods increased in five countries year-over-year in reported and constant currency.
Source: accesswire.com
UK's cost of living insights: Food
Prices of food and non-alcoholic beverages rose by 10.1% in the year to October 2023, according to the latest Consumer Prices Index, including owner occupiers' housing costs (CPIH). The largest downward contributions came from milk, cheese, eggs, and vegetables, which eased to 7.9% in the year to October 2023, down from 12.3% in September.
Source: ons.gov.uk
SPAR reducing food waste impact across the retail landscape
In Austria, SPAR is using artificial intelligence (AI) to obtain more accurate product demand predictions. The system is being trialed for fruit and vegetable ordering in SPAR Austria stores before expanding to other food groups.
Source: spar-international.com
PepsiCo to expand 'diverse ingredients' portfolio in Europe
PepsiCo aims to expand its 'diverse ingredients' portfolio in Europe and globally as part of its pep+ agenda, which seeks to create a more sustainable food system. Consumption of ingredients, such as legumes, whole grains, plant-based proteins, fruit and vegetables, nuts, and seeds, helps promote a more nutritious diet.
Source: esmmagazine.com
Bulgaria's PPI in agriculture was down 24.9% y/y in Q3
Bulgaria's producer price index (PPI) in agriculture sank by 24.9% on the year in the third quarter of 2023 on the back of a 30.5% decline in crop output prices, the National Statistical Institute (NSI) said. Industrial crop prices decreased by 33.7%, following a 35.6% drop in sunflower prices, whereas prices of vegetables and fruits grew by 9.5%.
Source: seenews.com
Retailer Magnit to buy back 7.8% of shares in additional tender
Magnit said that foreign shareholders had tendered shares representing about 7.8% of the company in an additional, discounted buyback offer worth about 17.5bln roubles ($196.31mln).
Source: reuters.com