China's JD.com promotes finance chief to CEO role as Xu Lei resigns
E-commerce giant JD.com Inc. said its chief executive Xu Lei will step down, with the company's chief financial officer taking on the role. He will immediately begin the process of handing over CEO responsibilities to Sandy Xu Ran, who will be the company's third CEO and the first female to hold the position. Revenue for the three months rose 1.4% to 242.96bln yuan ($35.15bln), compared with an average analyst estimate of 239.42bln yuan, according to Refinitiv data.
Source: reuters.com
Removing GST, splitting up supermarkets: What's the best way to bring food prices down in New Zealand?
Finance Minister Grant Robertson said while it has been tough, many factors that influence food prices are out of the government's hands. "Particularly when you look at fruit and vegetables, where the weather is having an enormous impact
and the broader supply chain challenges", he told RNZ ahead of next week's Budget, which is expected to focus on easing cost of living pressures.
Source: rnz.co.nz
Germany: Metro sees double-digit sales growth in second quarter, EBITDA down
Cash-and-carry giant Metro has reported a 10.5% increase in sales in local currency in the second quarter of its financial year, with reported sales rising 10.4% to €6.9bln. Adjusted EBITDA for the quarter stood at €111mln, down from €157mln the previous year.
Source: esmmagazine.com
India: Sorted launches Saarthi, eyes to help mom-and-pop shops
Sorted, an Indian omni-channel platform for fruits and vegetables, has announced the launch of Saarthi, a bouquet of B2B services in the fruits and vegetables sector. Saarthi aims to help mom-and-pop shops to grow their income from fruits and vegetable businesses by up to 5x by better sourcing, helping reduce wastage and increasing their sales footprint.
Source: startup.outlookindia.com
Japan: KKR increases majority stake in Seiyu with acquisition of Rakuten shares
KKR, a leading global investment firm, and Rakuten Group, Inc., (“Rakuten”) announced the signing of definitive agreements under which a fund managed by KKR will purchase Rakuten’s stake in Seiyu (the “Company”), a leading, nationwide supermarket chain in Japan. With this purchase, KKR increases its stake in Seiyu from 65% to 85% (On the basis of shares with voting rights).
Source: businesswire.com
Indian government's e-commerce network ONDC expands into 236 cities - CEO
The Indian government's open e-commerce network ONDC has expanded its operations into 236 cities in the country while adding more than 36,000 merchants, a senior company official said. The government launched the Open Network for Digital Commerce (ONDC) last year to give small businesses and retailers access to processes and technologies usually provided by big e-commerce platforms such as Amazon and Walmart.
Source: reuters.com
CJ Lang customises Spar Scotland SalesTrack platform
Having reported great traction with Spar Scotland SalesTrack among its suppliers and retailers, C J Lang & Son / Spar Scotland is now customising the platform to create unique report functionality and new features.
Source: talkingretail.com
Foodstuffs share why we’re seeing less Avocados on supermarket shelves, and when we can expect them back
Foodstuffs North Island’s Produce Merchandise Manager Brigit Corson reveals there’s a few things at play. “The main reason we’re seeing less Avocados on supermarket shelves is because the Avocado season has run short”, she says. Primor’s Head of Domestic Avocado Sales Regan Booth, who supply most of the Avocados for Foodstuffs North Island’s PAK’nSAVE, New World and Four Square supermarkets adds that New Zealand is currently sitting between two seasons.
Source: foodstuffs.co.nz
Spain: Bonnysa chooses The Minions as its banana ambassadors
Bonnysa is one of the leading banana operators in Spain, with more than ten million kilogrammes produced in its fields in Tenerife. The Alicante-based company has decided to use the Minions as ambassadors for this delicious banana, as it seeks to promote the product, as well as fruit consumption, among the youngest members of the household.
Source: esmmagazine.com
Luxembourg: Restopolis launches new project around sustainable food in school cafeterias
The goal of the 'Food 4 Future' project launched by Restopolis is to ensure that school cafeterias become more sustainable by using more organic and regional produce. The project is a joint effort between the Ministry of Education, non-profit 'Mouvement Ecologique', and the Association of Young Farmers. Kitchen staff can now use the 'Supply 4 Future' platform to order produce from different growers, who have to register and be approved beforehand.
Source: today.rtl.lu
Kroger CEO doesn’t rule out litigation if regulators block Albertsons merger
Kroger Co. Chairman and CEO Rodney McMullen has reiterated his company’s willingness to pursue litigation, if necessary, in the event that regulators reject its $24.6bln deal to merge with fellow supermarket giant Albertsons Cos. “Albertsons and Kroger both committed, as part of the original agreement, that if for some reason it was litigated, we would litigate. And we committed to that in advance”, McMullen told Bloomberg in a video interview at its New York headquarters.
Source: winsightgrocerybusiness.com
Chedraui USA poised for growth out west
Chedraui USA, parent company of the El Super, Smart & Final and Fiesta Mart banners, and the fourth largest grocery retailer in California, is setting itself up for major growth and a new logistics integration effort. New El Super stores will come online in Las Vegas and San Ysidro, California, this year, while three new Smart & Final locations will come to the California cities of Madera, Lompoc and Lancaster.
Source: progressivegrocer.com
US: Meijer opens new supercenter in Elkhart
Meijer opened a new supercenter in Northern Indiana, bringing its state-of-the-art retail experience, featuring multiple ways to shop, to customers in Elkhart. The 159,000-square-foot store at 2500 Cassopolis St., brings a one-stop shopping experience to Elkhart-area customers. Known for grocery options like more than 600 varieties of farm-fresh produce, 150 USDA-certified organic items, and a deli and meat department, the new Meijer store also offers a pharmacy and general merchandise items.
Source: prnewswire.com
Numerator Monthly Inflation Report: Inflation increased 0.6% for everyday consumer purchases
Numerator, a data and technology company providing insights into consumer behavior, has released its Monthly Inflation Report. For the major categories of food at home, in April, prices for fruits and vegetables increased 0.2%. On a year-over-year basis, between April 2022 and April 2023, prices for fruits and vegetables increased 2.1%.
Source: globenewswire.com
The Fresh Market gives Q1 boost to Cencosud
The Fresh Market is churning out solid sales for Chilean parent company Cencosud, which acquired a majority stake in the U.S. specialty grocer last year. For the fiscal 2023 first quarter, The Fresh Market generated sales of about $503.4mln (converted from Chilean pesos), Las Condes, Chile-based Cencosud reported. That total accounted for 11.3% of Cencosud’s Q1 consolidated revenue of $4.35bln and 10.5% of its adjusted EBITDA.
Source: winsightgrocerybusiness.com
Carrefour Brasil in talks with Barzel Properties over $260mln deal
Carrefour Brasil said it has entered into exclusive talks with Barzel Properties for the sale of five distribution centers and five stores for 1.3bln reais ($259.83mln). In a securities filing, the Brazilian arm of French retailer Carrefour SA said the properties will be leased back under 20-year lease agreements, which are renewable for additional 5-year terms.
Source: reuters.com