Slovenia: Mercator sees improved performance in 1st 9 months of 2021
Mercator Group has announced that it achieved all its key business goals and saw improved performance year-on-year during the 1st 9 months of 2021. Operating profit amounted to €57.6mln, net profit for the period was €12.6mln, while normalised EBITDA increased 10.8% year-on-year, to €139.3mln.
Source: esmmagazine.com
U.K.’s billionaire Issa brothers may merge Asda and EG Group
Britain’s billionaire Issa brothers are considering merging U.K. grocer Asda Group with EG Group, their international chain of gas stations and convenience stores, people with knowledge of the matter said. The Issas are studying a range of strategic alternatives for EG Group, which they own together with buyout firm TDR Capital, the people said, asking not to be identified because the information is private. A merger with Asda could value the combined business at around $35bln including debt, one of the people said.
Source: bnnbloomberg.ca
Amazon picks Abu Dhabi for most cutting-edge fulfilment centre in the Middle East
Amazon will build the Middle East's most technologically advanced fulfilment centre in Abu Dhabi through a partnership with the Abu Dhabi Investment Office. The 175,000 square-metre site, expected to be completed by 2024, aims to create thousands of jobs, drive innovations in logistics and give local entrepreneurs and retailers access to new markets through Amazon.
Source: thenationalnews.com
Lidl GB boss Christian Härtnagel promoted to Germany role
The boss of discount supermarket Lidl GB, Christian Härtnagel, has been promoted to the role of CEO at Lidl Germany, the largest of the Lidl businesses, the group has announced. Lidl GB said deputy CEO Ryan McDonnell, 44, will succeed Härtnagel, 39, as Lidl GB CEO next year.
Source: esmmagazine.com
Taiwan’s PX Mart offers NT$11.5bln for RT-Mart hypermarket chain
PX Mart is offering NT$11.5bln (US$412.65mln) to take over hypermarket operator RT-Mart from France’s Auchan and the Ruentex Group, reports said. The Taiwan supermarket group also promised it would maintain RT-Mart as a separate brand and keep its management team in place, CNA reported. PX Mart first announced its intention to take control of the 20 RT-Mart hypermarkets and 2 convenience stores in October, but without revealing details.
Source: taiwannews.com.tw
Sainsbury billionaire bets $337mln on private equity funds
The investment firm for one of the world’s biggest retail fortunes is boosting its private equity bets after stepping back from public markets. David Sainsbury, whose great-grandfather founded supermarket chain J Sainsbury Plc, plans to put as much as 253mln pounds ($337mln) into private equity funds through his family office, Innotech Advisers, according to a U.K. registry filing.
Source: bnnbloomberg.ca
France asks search engines and app stores to remove Wish
Several French ministers have issued a common statement announcing that they have asked the main search engines and mobile app stores operating in France to hide Wish’s website and mobile app altogether. Wish is a popular e-commerce platform that mostly references products from China-based merchants. It doesn’t hold inventory, as products are shipped directly from merchants to customers.
Source: techcrunch.com
Amazon asks India antitrust body to revoke Reliance-Future deal approvalAmazon has asked India's antitrust regulator to revoke its approval for Future Retail's $3.4bln sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal, a letter seen by Reuters shows.
Source: reuters.com
Israel: Shufersal reports on the financial results for the 3rd quarter of 2021
Shufersal, Israel's leading retailer, announced its financial results for the 3rd quarter of 2021, ended September 30, 2021. The Group's revenues in the 3rd quarter totaled approximately NIS3.8bln, compared with approximately NIS3.9bln last year, a decrease of approximately 3.6%, mainly attributed to the weakening influence of the corona crisis in the food retail sector. The Group's revenues in the 1st 9 months of the year totaled approximately NIS11.1bln - a decrease of approximately 1.8% compared to the corresponding period last year, which is mainly attributed to the weakening influence of the corona crisis.
Source: prnewswire.com
German retail suffers at start of crucial Christmas season
A surge in coronavirus cases in Germany has led to a disappointing start to the Christmas season for retailers in Europe's biggest economy, the sector body said. A survey by the HDE retail association showed that only 20% of 350 companies asked were satisfied with Christmas sales so far. November and December are normally the strongest months of the year for retailers.
Source: reuters.com
UK: Morrisons faces backlash after it is revealed workers at convenience stores earn minimum wage despite supermarket staff being paid at least £10 an hour
Morrisons faced a backlash after it emerged a partner using its brand is paying staff the minimum wage despite the supermarket's much publicised guarantee that all employees will earn at least £10 an hour. The Bradford-based chain won widespread praise after becoming the 1st UK supermarket to vow that no staff would be paid under the threshold at the start of the year.
Source: dailymail.co.uk
Danish average online spend highest in Europe
The strongest ecommerce markets in Europe have remained on the top. However, consumers in Denmark have spent the most online in the past year. These findings are published in the newest report by Direct Link.
Source: ecommercenews.eu
UK: Sainsbury’s introduces contactless, checkout-free shopping with SmartShop Pick & Go
Sainsbury’s is launching a new in-store digital innovation with a contactless, checkout-free way to shop. Building on the success of SmartShop, which grew 173% last year, SmartShop Pick & Go is using Amazon’s Just Walk Out technology. The technology is in use in Sainsbury’s convenience store at Holborn Circus.
Source: sainsburys.co.uk
New Zealand: Countdown workers win pay rise
Workers at 2 Auckland Countdown supermarket distribution sites have won a pay rise following a 3-day strike. The settlement includes a 5% wage rise for the next year and a 3.9% increase for a reduced 9-month term the following year, says FIRST Union.
Source: hcamag.com
US: With staggering growth behind it, Target's Shipt delivery business faces a now-what moment
After a year of intense growth, Target Corp.'s grocery-delivery business, Shipt, is starting to level off and its pool of competitors keeps expanding. More shoppers embraced the convenience - and safety, from a health standpoint - of grocery delivery as the pandemic unfolded. But as in-person shopping returned, delivery specialists like Shipt had to come up with new ways to make the momentum count and better serve customers and retail clients.
Source: startribune.com
US: Impossible Foods closes $500mln in new funding amid record growth
California-based Impossible Foods announced that it has secured approximately $500mln in its latest funding round, led by existing investor Mirae Asset Global Investments with participation from other existing Impossible Foods investors.
Source: businesswire.com
Walmart uses Uber Eats, DoorDash drivers to fulfill orders fast from local stores
Walmart, in attempting to grow its instant delivery service, has hit some hurdles, according to The Wall Street Journal (WSJ). The recent switch to more digital, quick forms of eCommerce has seen the popular retailer moving items from stores to homes directly, utilizing workers from food delivery apps like Uber Eats and DoorDash to get those deliveries done.
Source: pymnts.com