Albertsons' lawsuit: Kroger acted in its own 'best interests,' fouling $24.6B merger bid
Kroger made several missteps in its proposed $24.6bln merger with Albertsons, including drawing up an inadequate divestiture plan and acting in its own best interests to derail the deal after suffering "buyer's remorse", according to a lawsuit filed by Albertsons against the Cincinnati-based grocer that was unsealed Monday.
In other news: Union opposes Kroger's $7.5B stock buyback plan, calls for CEO's ouster
Source: supermarketnews.com
Brazilian investor Tanure in initial talks with Casino over GPA shares, says source
Brazilian investor Nelson Tanure has initiated preliminary discussions with French retailer Casino, about buying at least part of its shares in supermarket operator GPA, according to a source familiar with the matter, potentially adding to a stake amassed by funds allied to Tanure in recent days.
Source: reuters.com
Costco ranks first in dunnhumby's Canadian Grocery Retailer Preference Index
dunnhumby announced Costco as the top Canadian Grocery Retailer in the dunnhumby Retailer Preference Index (RPI), a nationwide study of the Canadian grocery market that combines retailers financial results with customer perceptions to rank grocers for long-term success. Super C (2), Maxi (3), and Walmart (4) follow as the top four grocers in Canada.
Source: businesswire.com
Walmart teams up with delivery firm Meituan in bid to boost China e-commerce sales
Walmart said it had formed a strategic partnership with Meituan under which the Chinese firm has begun providing delivery services for Walmart goods and the U.S. company will be featured on its popular app. The move will help Walmart accelerate its e-commerce business in China, which accounts for nearly half of its sales in the country, Walmart's China unit said in a Wechat post.
Source: reuters.com
East of England Co-op names Acting CEO
The East of England Co-op has appointed Andy Rigby as Acting Chief Executive. He will take over the role for a minimum of 12 months from Doug Field, who has announced he is leaving the organisation after 16 years, the last two of which were as CEO.
Source: kamcity.com
UK: Morrisons is giving away 'free carrots for Rudolph' starting next week
Morrisons shoppers will be able to pick up free wonky carrots - which are vegetables that are either oversized or misshapen - in stores on December 21 and December 22.
Source: mirror.co.uk
Savills IM expands Portuguese supermarket portfolio
Real estate investment manager Savills Investment Management (Savills IM) has added four urban supermarkets in Portugal to its European Food Retail investment portfolio. This acquisition brings the total value of the portfolio to approximately €470mln. The company plans to continue investing in the food retail sector across key European markets, including Spain, Portugal, Italy, the UK, Ireland, Benelux, and the Nordics. The acquired properties comprise two supermarkets in the Lisbon metropolitan area, one near Porto, and one in the Algarve. Each supermarket is leased to Portuguese food retailer Continente on long-term agreements.
Source: esmmagazine.com
UK: Turkey and sprouts drives down cost of Christmas dinner
Falling turkey and Brussels sprout prices mean Christmas dinner will cost a little less at the supermarket checkout this year. The price of Brussels sprouts has fallen by 12%, while a 10lb (4.55kg) frozen turkey will cost you £1.21 less than it did last year, research for the BBC suggests. The annual change in price for products across Tesco, Sainsbury's, Asda, Morrisons, Aldi and Lidl were measured by Retail tracking platform Assosia. Brussels sprouts came in at 12p cheaper for a 500g bag compared to last year. Maris Piper potatoes have seen a whopping 26% increase, with a typical 2kg bag up from £1.58 to £1.99. Tracy Bush, co-director of Provenance Potatoes in Kent, says poor weather has had a lot to do with the price of spuds going up in recent years. Carrot farmer Rodger Hobson says the same wet weather delayed this year's carrot planting season. Last year, the weather was so bad that supermarkets had to import carrots. This year, they've gone up by 13.4% to 69p per kilo.
Source: bbc.com
Ahold Delhaize to sell 87 Romanian stores to AuGust?
Ahold Delhaize has received a bid by Romanian convenience store chain AuGust to take over 87 Profi and Mega Image stores. The Romanian Competition Council had demanded that the Dutch retailer sold these stores as part of its acquisition of the Profi chain.
Source: retaildetail.eu
UK: Aldi launches search for biggest Kevin the Carrot fan
Aldi reported: "Aldi is launching a search for the nation's biggest Kevin the Carrot fan this Christmas, with the chance to win the ultimate prize package. Whether your heart skips a 'beet' at the sight of the nation's favourite root vegetable, or your home is stuffed with Kevin collectibles, the UK's fourth largest supermarket wants to hear from you".
Source: aldipresscentre.co.uk
Alibaba to sell China department store chain Intime for $1.3 bln loss
Alibaba Group said it would sell its Chinese department store unit Intime and book a $1.3bln loss from the deal, as the retail giant reshuffles its business portfolio to focus on its core e-commerce operation.
Source: reuters.com
Tesco slashes price of traditional Christmas dinner for its Clubcard customers
From December 19 to 25, shoppers will be able to feed six on Christmas Day for as little as £1.84 per person with Clubcard Prices as the supermarket is reducing the price of small, fresh turkeys by 40% to just £3 a kilo with a Clubcard. The retailer is also reducing the price of carrots and parsnips to 15p a bag, and sage and onion stuffing to 40p for Clubcard holders, meaning a dinner for six costs £11.05.
Source: gedlingeye.co.uk
Azerbaijan retail giant drives growth with unusual business model
"One of our most successful partnerships is with SPAR, a multinational retail chain based in the Netherlands. Our retail brand, "Araz" creates unique value for the national economy by bringing together the international brand of SPAR and local individual entrepreneurs", stated Aydın Talıbov, founder and CEO of Veyseloglu in an exclusive interview with SAP Voice on Forbes.
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Source: forbes.com
Gopuff launches Santa Hours in London - 24/7 Grocery delivery
Gopuff, the instant grocery delivery company, is launching 'Santa Hours' - round-the-clock 24/7 grocery deliveries across London to offer festive convenience to customers.
Source: talkingretail.com
Irish grocery sales hit €1.24bln as shoppers stock up early for Christmas
Take-home grocery sales in Ireland increased in value by 5% over the four weeks leading up to 1 December 2024, reaching €1.24bln, according to the latest data from Kantar. For a family of four, the cost of an average Christmas dinner has risen to €34.74, up 2% on last year, driven mainly by the price of turkey and Christmas vegetable staples, with brussels sprouts and mince pies seeing an increase of over 10% in price versus this time last year.
Source: kantar.com