Singapore retail sales almost back on track
Mercadona introduces new efficient store model
The share prices of Steinhoff and Shoprite plunged on Wednesday following the announcement that the retail conglomerates were discussing a potential merger of their African retail interests to create a "retail champion" on the continent. Both stocks fell more than 7%, as shareholders were left in the dark over the finer details of the deal, which would see Shoprite acquiring Steinhoff’s African retail operations in exchange for Shoprite shares.
Metro consumer electronics division to seek acquisitions
DUESSELDORF Metro (MEOG.DE) expects its consumer electronics division to go on a hunt for acquisitions once it has been separated from the German retailer's wholesale and hypermarket food business next year. The consumer electronics sector is seen as ripe for more mergers as fierce competition from the likes of Amazon (AMZN.O) squeezes margins and Metro said on Thursday its Media-Saturn division would be well-placed to lead consolidation.
Mercadona introduces new efficient store model
Mercadona – a 100% Spanish-owned, family-run chain of supermarkets – launched a New Efficient Store Model that will enhance and optimise the shopping experience for its “Bosses”, which is what the company calls its clients internally. To this end, the company plans to invest 180 million euros in refurbishing and renovating 125 stores throughout the country in 2017. The first two supermarkets to include this New Store Model are located in Puerto de Sagunto (Valencia) and in the municipality of Peligros (Granada).
Singapore retail sales almost back on track
Real Singapore retail sales rose in October month-on-month – but slipped year-on-year. According to official Statistics Singapore data released Thursday, seasonally adjusted retail sales rose 1.5 per cent (excluding motor vehicles) on September’s figures. But while the headline figure showed a 2.2 per cent increase on October 2015, after removing motor vehicles, the real result was a drop of 0.3 per cent.
New Morrison Supermarkets rating from Goldman Sachs indicates stock as potential sell
Following an update released by analysts at Goldman Sachs on Wednesday the broker has now set a ‘Sell’ rating on shares of Morrison (Wm) Supermarkets PLC (LON:MRW) with a price target of 180. On Wednesday Goldman Sachs reiterated its target for shares of Morrison (Wm) Supermarkets PLC as ‘Sell’ recommending a target price of 180 for investors; potentially meaning there is a decrease of -21.12% from Morrison (Wm) Supermarkets PLC’s share price of 228.2. Morrison (Wm) Supermarkets PLC has 2,331,399,000 shares currently held by shareholders which currently trade around the 228.2 mark which totals Morrison (Wm) Supermarkets PLC’s market capitalisation to 5.32B GBP.
Service allows customers to shop for groceries without going in store
Kroger is offering a new service that should take some of the hassle out of grocery shopping. The grocery chain is offering ClickList, a same day, online grocery ordering service, at many of its stores including four in Middle Georgia, according to a news release.
TESCO partners with Happyfresh in Malaysia
Tesco Malaysia has partnered with online grocery platform HappyFresh, to expand its capacity and capability to fulfil online grocery orders. Shoppers can select from more than 12,000 products ranging from food to non-food items, including Tesco’s private label products. Fresh produce will be carefully selected by HappyFresh’s concierge shoppers in the nearest Tesco Malaysia hypermarkets. All products sold via HappyFresh are offered at the same price as the products in-store, including those on discounts.
Mexico: Top retailers update
"We round up the latest developments at leading Mexican retailers."
Turkey Migros acquires Tazedirekt
Migros Ticaret has acquired the brand rights of Tazedirekt, an online food delivery company. Tazedirekt was established in 2014, with a focus on natural and local foods. However, it ended operations in February this year due to 'efficiency issues'.
Metro to decide soon on future of online site Redcoon
German retailer Metro (DE:MEOG) will decide soon on the future of online consumer electronics site Redcoon, the head of its consumer electronics business said on Thursday.