UK: Thousands of c-stores at risk unless chancellor acts on energy costs, says ACS
The Association of Convenience Stores (ACS) has warned that almost 7,000 independently owned local convenience stores could be at risk of closure if the chancellor doesn’t act in the Budget to target further support on energy costs.
Aldi Suisse completes upgrade of store network
Swiss retailer Aldi Suisse has completed the modernisation of its store network and expanded its standard assortment of products. The new concept features what the retailer has described as a 'high-quality' presentation of goods, including a selection of fresh fruits and vegetables creating a 'market-like' atmosphere.
China: JD.com warns consumer confidence will take time to rebuild
Chinese e-commerce firm JD.com Inc said rebuilding consumer confidence would take time after the lifting of strict pandemic-related curbs late last year, as it missed fourth-quarter revenue forecasts. JD.com's net income attributable to ordinary shareholders was 3bln yuan ($431mln) in the three months ended December, versus a net loss of 5.2bln yuan a year earlier. Revenue rose 7.1% to 295.4bln yuan, missing the consensus estimate of 296.2bln yuan, according to Refinitiv data.
Tesco approaches chair candidates as John Allan nears the checkout
Tesco has begun sounding out candidates to replace John Allan, its long-serving chairman, paving the way for a change at the top of Britain's biggest retailer. Sky News has learnt that the FTSE 100 supermarket chain is working with headhunters to identify Mr Allan's successor.
Japan: Seven & i to reduce Ito-Yokado stores, exit apparel business
Seven & i Holdings Co, the operator of the Seven-Eleven convenience store chain, said its Ito-Yokado supermarket unit will cut the number of its stores by a quarter and quit its apparel business as the retail group presses ahead with restructuring to focus more on its convenience store operations. The supermarket operator will close 33 unprofitable or low-profit margin outlets in Japan by the end of February 2026. There were a total of 126 as of the end of February.
UK: Morrisons posts £1.5bln loss after being sold to CD&R
Morrisons has racked up £1.5bln of losses, a year after being bought by US private equity firm CD&R. The grocer was acquired by CD&R in October 2021 for £7bln, in a debt-fuelled deal led by former Tesco boss Sir Terry Leahy.
France: Retailer Casino 2022 core profit falls; in exclusive talks with Teract
Retailer Casino aimed to reduce its debt and cut costs this year after reporting a 5.9% decline in 2022 group operating profit, reflecting a slump at its core French operations and low cash following weak fourth-quarterly sales. Casino also announced it had signed an exclusive agreement with Teract to combine their retail activities in France within an entity controlled by the former. Casino, which has been selling assets to cut debt, reiterated that it aimed to complete the final 400mln euros ($423.64mln) leg of its 4.5bln euros disposal plan in France by the end of 2023.
Holland: Hoogvliet Supermarkets names Edwin De Maa as CEO
The supervisory board of Hoogvliet Supermarkets has announced the appointment of Edwin de Maa as its new CEO as of 1 June 2023. This position was temporarily filled by Fred van Heyningen, who will remain with the Dutch retail group as director of its holding company.
Germany: Galeria threatens creditors with bankruptcy
German department store chain Galeria is not holding back in its insolvency plan: either creditors settle for a pittance, or the chain goes bankrupt and they get nothing at all. Belgian subsidiary Inno may face a surprising twist.
Casino, Intermarche win fight against EU antitrust regulators
Casino and Intermarche won the backing of Europe's top court in their fight against EU antitrust regulators and their attempt to investigate the French supermarket groups' buying alliance.
Sensei launches Europe's most sophisticated autonomous supermarket with Hewlett Packard Enterprise
Sensei the leading European provider of autonomous store technology, announced the launch of its 'Dojo', the most sophisticated autonomous retail environment in the world: the space itself has 500m2, the biggest store fully autonomous in Europe. Created in collaboration with Hewlett Packard Enterprise (HPE), the new facility in Lisbon, Portugal, is a first of its kind test lab. Not open to the public, the showcase store provides a cutting-edge retail environment for Sensei and its partners to develop and test new autonomous store technologies.
US: Tops expands Flashfood service to 18 more locations
Tops Friendly Markets is expanding its partnership with Flashfood, which offers products nearing their best-by dates at a substantial discount, in 18 more of its locations, the company announced. The new Flashfood Tops stores include five locations in Rochester and one each in Albion, Avon, Canandaigua, Farmington, Greece, Hamlin, Henrietta, Hilton, Irondequoit, Ontario, Spencerport, Walworth and Waterloo.
US: BJ's Q4 brings 'record' gains for the wholesale club
It was a record quarter for BJ’s Wholesale Club as shoppers increasingly are hunting for value amid high inflation. For the fourth quarter ended January 28, BJ's reported same-store sales growth of 9.8% over the prior year, while the retailer achieved an all-time high member renewal rate, the company said. BJ’s reported year-to-date income from continuing operations of $514.3mln and year-to-date adjusted EBITDA of $1.0bln. Net sales for the fourth quarter were up 13%, to $4.8bln. BJ's also announced that it is adding five clubs to its growing portfolio across the United States.
Food Rocket ceases U.S. operations
Rapid grocery delivery startup Food Rocket has become the latest casualty in this sector, having ceased operations this month after exhausting its funding. According to the company, it ran out of capital while struggling to raise additional funding, and the recent downturn in the capital market made it difficult to get a bridge from its investor retail company Alimentation Couche-Tard, so the founding team decided to shutter its U.S. operations.
US: Instacart, PHA join together to help families in need
Partnership for a Healthier America (PHA) celebrated a new program with Instacart, a grocery technology company in North America, and Indianapolis Mayor Joe Hogsett as part of their ongoing collaboration to increase affordable access to healthy and nutritious food in Indianapolis. The program, celebrated at a cooking event at Gleaners Food Bank, will connect 640 Indianapolis families in need with free grocery delivery on orders over $35 and a monthly “Fresh Funds” stipend to spend on fresh fruits and vegetables using Instacart.
Whole Foods CEO shares what he eats to stay energized - hot sauce as salad dressing, less caffeine and a vegan lunch
Whole Foods Market CEO Jason Buechel: "For breakfast, I’ll have oatmeal or a smoothie with fresh produce and vegan protein powder (Garden of Life Sport is my go-to). My lunches are mostly plant-based. I usually head straight to a Whole Foods Market’s salad bar and make a filling and nutritious bowl of kale, mixed greens, beans and seasonal vegetables. When cooking at home, I love grilling halibut or Chilean sea bass, served with roasted vegetables. My current favorite side is a medley of Brussels sprouts, Romanesco broccoli, and cauliflower".