US: Dollar Tree meets expectations for Q3
Same-store net sales were up across the entire portfolio, which consists of Dollar Tree and Family Dollar stores. Dollar Tree same-store net sales were up 5.4% year-over-year, while Family Dollar experienced a 2% increase. Consolidated net sales increased 5.4% to $7.31bln, and Dollar Tree stores registered a 7% rise in traffic compared to Q3 2022. Gross profit went up 4.9% year-over-year to $2.17bln while net income was $212mln.
Walmart shifts to India, cuts China imports
Walmart is importing more goods to the United States from India and reducing its reliance upon China as it looks to cut costs and diversify its supply chain, data seen by Reuters shows.
US: Ingles Q4, FY net sales edge up
Ingles Markets Inc. has reported slightly better sales results for the three and 12 months ended September 30. Net sales for the fourth quarter of fiscal 2023 totaled $1.58bln, compared with $1.45bln for the quarter ended September 24, 2022. Gross profit for the fourth quarter of fiscal 2023 came to $369.7mln, or 23.3% of sales, while gross profit for the fourth quarter of fiscal 2022 was $364.8mln, or 25.1% of sales.
UK: Brussels Sprouts are the nation's favorite vegetable!
To uncover what Brits consider must-have food items for their Christmas dinner, Mecca Bingo has conducted a survey to find out which trimmings are ranked as the most important. Roast potatoes have been found as the top must-have trimming, Brussels Sprouts (34%) were the top choice of vegetable.
Australia: A fairer and more competitive supermarket sector
The Australian government welcomes the publication of the 2022-23 Annual Report of the Independent Reviewer of the Food and Grocery Code. The Independent Reviewer’s rankings are as follows: 1st place - Aldi; 2nd place - Metcash; 3rd Place - Coles; 4th Place - Woolworths.
South African retailer SPAR annual profit slumps, withholds dividend
South African grocery retailer and wholesaler SPAR Group reported a 47% slump in annual operating profit due to a failed IT system, impairments, and lower-than-expected sales growth, and said it would not declare a final dividend. SPAR, which also operates in Switzerland and parts of the UK, said that group operating profit fell to 1.8bln rand ($96.17mln) in the full year ended September 30 from 3.4bln rand in 2022. Consequently, headline earnings per share fell 47.7% to 606.6 South African cents.
Ireland: Agri-Food Regulator up and running next month
IFA President Tim Cullinan has welcomed the announcement of the new Agri-Regulator Board and the start date next month of the Agri-Food Regulator. In conjunction with her new role as CEO of the Agri Regulator, Niamh Lenehan will continue as Head of the Unfair Trading Practices Enforcement Authority. IFA looks forward to engaging with Niamh Lenehan on behalf of farmers, in particular those in the fresh produce sectors, who are so reliant on the retail sector. The number of fruit and vegetable growers has been in decline for the past 20 years due to margin pressures exerted on growers from the top of the food chain.
SPAR Italy partner Maiora boosts growth in Calabria
SPAR Italy’s market share is set to grow in Calabria and the Cosenza region following investment in a new store by regional partner Maiora. The town of Mirto is now also supported by the SPAR network following the opening of a EUROSPAR Supermarket in Via della Repubblica. The fruit and vegetables section offers fresh produce, including conveniently packaged options.
S Group participates in a pilot water project in Spain
Finnish retailer S Group is participating in a joint pilot project for sustainable water use in the region of Huelva and Doñana in southern Spain. The project, coordinated by the international cooperation network Alliance for Water Stewardship (AWS), also involves Coop Trading, a procurement company for Nordic cooperative companies, and three other European trade groups, the Finnish retailer noted. Scott McCready, director of strategy at AWS, said: "We are bringing together retailers and fruit, berry, and vegetable producers in the province of Huelva, Spain."
Japan's Seven & i expands 7-Eleven empire with purchase of Australian franchise
Japanese retail conglomerate Seven & i Holdings said it has agreed to purchase the 7-Eleven convenience store chain in Australia for A$1.71bln ($1.1bln), further expanding its ownership of the brand.
Plant-based meat for carnivores: Redefine Meat steps into retail
Redefine Meat, a producer of plant-based products for carnivores, is moving from the on-trade to retail: in the Benelux, the brand will now be available at Crisp and Albert Heijn online. “We are going to beat the cow,” says top executive Edwin Bark.
Spain: Mercadona opens 200th store in Madrid
Retailer Mercadona has opened its 200th store in the Community of Madrid. Mercadona has invested €6.5mln for the construction of the new store, located on Príncipe de Vergara Street.
UK: King's Lynn food bank says wonky potatoes lift struggling people
A food bank has welcomed any donations of wonky potatoes, saying the versatile and long-lasting vegetables "lifted" struggling people during tough times. King's Lynn Foodbank said fresh, hard vegetables were "a gift" rarely given.
Latvian government approves 12% VAT rate for fruits, vegetables, and berries for one year
The Latvian government supported the application of a reduced 12% VAT rate on fruits, vegetables, and berries for a period of one year. The existing 5% VAT rate for fruits and vegetables will remain in force until December 31, 2023.
Austria: Signa, parent company of Galeria and Inno, starts insolvency proceedings
Signa Holding, the holding company of the Galeria department stores, has filed for insolvency. The property group is seeking court protection to restructure.
UK: Sainsbury’s festive roast feeds six for less than £20 with Nectar
The price-busting Sainsbury’s festive roast returns at its lowest ever price, featuring nine Christmas dinner essentials, including a fresh turkey, vegetables, roast trimmings of pigs in blankets, stuffing and gravy, and a fruit sherry trifle for £19.41, for six people with Nectar Prices.
“Alibaba should adapt to the success of Temu”
Temu is China’s new star, that much is clear after a record quarter for parent company PDD. After a near doubling of sales, Jack Ma is also calling on “his” Alibaba to take a leaf out of the online discounter’s book.