US: DoorDash revenue jumps in first quarterly results since IPO
Food delivery company DoorDash Inc reported an over three-fold rise in quarterly revenue in its first results as a public company. The company, which went public in December in one of the biggest initial public offerings of the year, said its revenue rose to $970mln in the fourth quarter, from $298mln a year earlier.
Source: reuters.com
US: Costco lifts minimum wage above Amazon or Target to $16 per hour
Costco Wholesale Corp is raising the minimum wage for its hourly staff to $16, a dollar more than what its competitors Amazon.com Inc and Target Corp pay per hour. The membership-only retailer’s move comes as U.S. President Joe Biden plans to raise the minimum wage to $15 per hour by 2025, and a week after rival Walmart Inc raised its hourly wage to an average of $15.
Source: reuters.com
US: Meijer to host 2nd Supplier Diversity event
Following the success of Meijer’s first virtual Supplier Diversity Summit on November 12, where it met with nearly 250 diverse suppliers, the retailer is once again looking to source new products at its next vendor recruitment event, taking place May 4-6. By extending the event to multiple days, Meijer merchants expect to meet with even more diverse-owned businesses.
Source: progressivegrocer.com
US: Sprouts Farmers Markets sees sales growth of 15% in fiscal 2020
Sprouts Farmers Market reported that net sales in Q4 and in fiscal year 2020 showed double-digit increases from a year earlier. “As the calendar has turned and we reflect on the year, the events of 2020 have only made Sprouts stronger,” CEO Jack Sinclair said during an afternoon earnings call. “We generated a robust top line with sales up 15%, record earnings and operating cash flow of nearly $500mln - while absorbing costs associated with an increase in e-commerce sales, the opening of 22 new stores and the payment of record bonuses to frontline team members.” The company also will open 2 new distribution centers soon. A Colorado location is scheduled to open in March, while a Florida site will open in the summer.
Source: supermarketnews.com
US: Walmart expands its Cookshop concept
Celebrities and interactive videos and related tools could help Walmart gain more power among food retail shoppers. In another example of how retailers of all types - including those selling groceries - are trying to deepen the consumer experience, Walmart and Eko, an interactive video company, are expanding Walmart Cookshop. The free interactive video hub offers custom content from such celebrity chefs and hosts as Jamie Oliver, Sofia Vergara, Patti LaBelle and Ree Drummond, a.k.a. The Pioneer Woman.
Source: progressivegrocer.com
Japan: KKR and Rakuten complete Seiyu share purchase from Walmart
KKR, Rakuten, Inc., (“Rakuten”) and Walmart Inc. (“Walmart”) announced that KKR and Rakuten subsidiary, Rakuten DX Solution, have completed their previously announced share purchases in Seiyu GK (“Seiyu” or the “Company”) from Walmart. With the completion of the transactions, KKR owns a 65% stake in Seiyu and Rakuten DX Solution owns a 20% stake in the Company. Walmart retains a 15% stake in Seiyu. KKR is making its investment from its Asia private equity fund. The new ownership structure enables Seiyu to take advantage of KKR, Rakuten and Walmart’s combined retail expertise and innovation, in addition to accelerating Seiyu’s digital transformation to become Japan’s leading omnichannel retailer.
Source: businesswire.com
UK: Sainsbury's gives staff third pandemic bonus
Britain’s second largest supermarket group Sainsbury’s will award its staff a third bonus for their efforts during the COVID-19 pandemic, it said. Sainsbury’s has 172,000 workers, making it one of Britain’s biggest private sector employers. The third one-off payment will be made to staff working in stores, as well as logistics and customer care teams in May.
Source: reuters.com
Lidl continues expansion, enters North Macedonia
After Slovenia, Croatia and Serbia, German discounter Lidl has entered North Macedonia. The company registered its local unit in North Macedonia on 16 February, according to a report in InStore magazine. 'Lidl Northern Macedonia' will have its headquarters in the municipality of Centar in Skopje, the capital of North Macedonia.
Source: esmmagazine.com
Pinduoduo recognized for work on alleviating poverty in China
Pinduoduo Inc. (“Pinduoduo”, or the “Company”), China’s largest agricultural platform, was recognized for its efforts in alleviating rural poverty. Pinduoduo was 1 of 3 technology companies commended for their contributions to China’s poverty alleviation efforts, according to a central government release. A total of 1,981 individuals and 1,501 organizations, institutions and companies were honored.
Source: globenewswire.com
UK: Morrisons extends wholesale supply deal with convenience store group
Bradford-headquartered supermarket chain Morrisons says it is extending its wholesale supply partnership with McColl’s Retail Group. Over the next 3 years, 300 McColl’s convenience stores are to be converted to the Morrisons Daily format. The stores will offer a full Morrisons convenience range and will be branded “Morrisons Daily”, but will continue to be owned and operated by McColl’s.
Source: thebusinessdesk.com