The inside word on Lidl’s plans for Australia -
The New Daily has obtained a never-before-published report that provides an insider view of Lidl’s plans for an Australian invasion. A source, who asked not to be named, provided The New Daily this week with analysis by Brittain Ladd, a former Deloitte consultant, who extensively researched Lidl and other global retailers. The analysis, written in 2015, concluded that Lidl is actively working to enter Australia, but is refusing to confirm its plans in order to maintain a competitive edge — and that an “all-out price war” will erupt when it does arrive. “If Lidl articulates their strategy, ALDI, Coles, and Woolworths will immediately go to work formulating counter strategies to minimize Lidl’s chance of success,” the US-based analyst wrote. Click here to read more at The New Daily. US Foods agrees to acquire Jeraci Foods
US Foods today announced that it has agreed to acquire Jeraci Foods, an Italian specialty distributor based in Elmsford, New York. Family owned since 1972, Jeraci Foods offers a complete line of authentic Italian and other imported and domestic food products to customers throughout the metro New York area. With more than $26 million in sales annually, Jeraci will enhance US Foods’ penetration in the Italian independent restaurant and pizzeria segment.(businesswire.com)
US Foods today announced that it has agreed to acquire Jeraci Foods, an Italian specialty distributor based in Elmsford, New York. Family owned since 1972, Jeraci Foods offers a complete line of authentic Italian and other imported and domestic food products to customers throughout the metro New York area. With more than $26 million in sales annually, Jeraci will enhance US Foods’ penetration in the Italian independent restaurant and pizzeria segment.(businesswire.com)Costco set for record Australian sales
American discount retailer Costco looks set to post record sales in Australia, as it considers setting up shop in sites once occupied by Woolworths' failed hardware chain, Masters. Costco Australia managing director Patrick Noone, said this year's results would be better than last year's, suggesting revenue of more than $1.32bn. "It will be higher than last year, for sure," Mr Noone told Fairfax Media. For the 2015 year, Costco generated a 50% rise in revenue to $1.32bn, and swung to a pretax profit of $22.7m. "We're going to grow the business organically," Mr Noone said. "As opportunities come up we'll grow." Click here to read more at smh.com.au.
Fruit and veg sales boosts Nisa's performance
Leading buying consortium and distributor to the UK's independent convenience retailing sector, Nisa, has updated on its trading performance for the 26 weeks to 2 October, reporting sales up 1.1% in the period. Growth was underpinned by ongoing recruitment of new members, with 184 stores welcomed to the network over the half. Following the launch of a new fresh produce wholesaling service for members in March, sales in this category have risen 21.9%. As well as providing improved distribution capability, including the introduction of loose fruit and vegetables, Nisa has also supported the category with stronger marketing focus, with fresh products featuring regularly in promotional programmes, as well as being targeted with price cuts. This drive on fresh produce is now enabling members to bring a credible offer to their stores that enhances the wider store environment, and helps shoppers address a wider range of missions. (igd.com)
Tesco faces UK legal action over accounting scandal
Tesco is facing a legal action by a group of investors who claim to have lost £150m due to the supermarket's 2014 accounting irregularities scandal. "Shareholders were misled by information inaccurately provided to the market with knowledge by management," alleges Jeremy Marshall from Bentham Europe, the firm funding the claim, speaking to the BBC. Mr Marshall said the legal action would be filed by the end of October. Tesco declined to comment on the case. Mr Marshall, chief investment officer at Bentham Europe, said currently the claim involved 60 large investors, but that he expected this number to increase once the legal action was filed. (bbc.com)
Kantar: Sainsbury’s is stabilising business gradually in 2016
Latest results show that Sainsbury’s is stabilising its business gradually in 2016, according to Kantar Retail. Derya Yildiz, senior analyst at Kantar Retail, has stated that the retailer is aiming for growth in 2017/18 with "a new pricing strategy and a bigger assortment of food and non-food". He commented, “Like-for-like sales, including fuel, are down 0.7% in H1, but there is improvement on a quarterly basis in Q2 over Q1, and FY 2015/16. Sales including fuel were flat in Q2." Yildiz continued, “The new value proposition shows promise, however its rivals such as Asda may heat up the game with further price cuts as we get closer to the holiday season." (esmmagazine.com)
American discount retailer Costco looks set to post record sales in Australia, as it considers setting up shop in sites once occupied by Woolworths' failed hardware chain, Masters. Costco Australia managing director Patrick Noone, said this year's results would be better than last year's, suggesting revenue of more than $1.32bn. "It will be higher than last year, for sure," Mr Noone told Fairfax Media. For the 2015 year, Costco generated a 50% rise in revenue to $1.32bn, and swung to a pretax profit of $22.7m. "We're going to grow the business organically," Mr Noone said. "As opportunities come up we'll grow." Click here to read more at smh.com.au. Fruit and veg sales boosts Nisa's performance
Leading buying consortium and distributor to the UK's independent convenience retailing sector, Nisa, has updated on its trading performance for the 26 weeks to 2 October, reporting sales up 1.1% in the period. Growth was underpinned by ongoing recruitment of new members, with 184 stores welcomed to the network over the half. Following the launch of a new fresh produce wholesaling service for members in March, sales in this category have risen 21.9%. As well as providing improved distribution capability, including the introduction of loose fruit and vegetables, Nisa has also supported the category with stronger marketing focus, with fresh products featuring regularly in promotional programmes, as well as being targeted with price cuts. This drive on fresh produce is now enabling members to bring a credible offer to their stores that enhances the wider store environment, and helps shoppers address a wider range of missions. (igd.com)Tesco faces UK legal action over accounting scandal
Tesco is facing a legal action by a group of investors who claim to have lost £150m due to the supermarket's 2014 accounting irregularities scandal. "Shareholders were misled by information inaccurately provided to the market with knowledge by management," alleges Jeremy Marshall from Bentham Europe, the firm funding the claim, speaking to the BBC. Mr Marshall said the legal action would be filed by the end of October. Tesco declined to comment on the case. Mr Marshall, chief investment officer at Bentham Europe, said currently the claim involved 60 large investors, but that he expected this number to increase once the legal action was filed. (bbc.com) Kantar: Sainsbury’s is stabilising business gradually in 2016
Latest results show that Sainsbury’s is stabilising its business gradually in 2016, according to Kantar Retail. Derya Yildiz, senior analyst at Kantar Retail, has stated that the retailer is aiming for growth in 2017/18 with "a new pricing strategy and a bigger assortment of food and non-food". He commented, “Like-for-like sales, including fuel, are down 0.7% in H1, but there is improvement on a quarterly basis in Q2 over Q1, and FY 2015/16. Sales including fuel were flat in Q2." Yildiz continued, “The new value proposition shows promise, however its rivals such as Asda may heat up the game with further price cuts as we get closer to the holiday season." (esmmagazine.com)Japanese Seven & I slashes forecast on department store writedowns
Seven & i Holdings Co. cut its full-year profit outlook by more than half, wrote down the value of its department and superstores, and said it would announce a restructuring next week. Net income will be 80bn yen ($793m) for the fiscal year ending February 28, 2017, about 53% less than the 172bn yen forecast it issued on Aug. 2, Japan’s largest retailer by market value said Friday in a statement. That would be the lowest profit for the Tokyo-based company since 2010. (esmmagazine.com)
Founder of Italy’s Esselunga supermarket chain dies
The owner of Italian supermarket chain Esselunga, Bernardo Caprotti, has died at the age of 90, two sources close to the family said on Friday. Caprotti had taken gravely ill in recent days, the sources said. Until then, he had been in talks over a possible sale of the group to private equity funds for up to 6bn euros ($6.7bn). The funds involved in the talks include Blackstone, CVC Capital Partners and BC Partners, according to people with knowledge of the matter. (pehub.com)
Roberts appointed retail and operations director for Sainsbury's
UK retailer Sainsbury’s has appointed a new retail and operations director, Simon Roberts. Roberts will report to Chief Executive Mike Coupe and will be an active member of the operating board. (esmmagazine.com)
Woolies finishes Home Timber sale
Woolworths has completed the sale of its profitable Home Timber and Hardware franchise as part of its $1.5bn exit from the home improvement sector. (news.com.au)
Seven & i Holdings Co. cut its full-year profit outlook by more than half, wrote down the value of its department and superstores, and said it would announce a restructuring next week. Net income will be 80bn yen ($793m) for the fiscal year ending February 28, 2017, about 53% less than the 172bn yen forecast it issued on Aug. 2, Japan’s largest retailer by market value said Friday in a statement. That would be the lowest profit for the Tokyo-based company since 2010. (esmmagazine.com) Founder of Italy’s Esselunga supermarket chain dies
The owner of Italian supermarket chain Esselunga, Bernardo Caprotti, has died at the age of 90, two sources close to the family said on Friday. Caprotti had taken gravely ill in recent days, the sources said. Until then, he had been in talks over a possible sale of the group to private equity funds for up to 6bn euros ($6.7bn). The funds involved in the talks include Blackstone, CVC Capital Partners and BC Partners, according to people with knowledge of the matter. (pehub.com)Roberts appointed retail and operations director for Sainsbury's
UK retailer Sainsbury’s has appointed a new retail and operations director, Simon Roberts. Roberts will report to Chief Executive Mike Coupe and will be an active member of the operating board. (esmmagazine.com)Woolies finishes Home Timber sale
Woolworths has completed the sale of its profitable Home Timber and Hardware franchise as part of its $1.5bn exit from the home improvement sector. (news.com.au)
