UK: Tesco workers set for $38mln shares windfall
More than 20,000 Tesco TSCO.L employees will share a windfall profit of more than 30 million pounds ($38 million) from maturing stock schemes, Britain's supermarket group said on Wednesday. The retailer said the employees, who mostly work in stores and distribution centres, have benefited from strong growth in Tesco's share price, which has risen by 23% over the past year.
Economic think tanks have historically described Britain as a laggard in the area of minimum employee benefits. But a tight labour market after Brexit and the COVID-19 pandemic has prompted companies to raise their game. Tesco, which is also Britain's largest private sector employer, increased store workers' pay by 9.1% in March.
Source: Zawya
Hungary: First Russian discount store Mere is opening in Hungary, potentially cheaper than its competitors
The Russian discount chain Mere will soon open its first store in Hungary. According to the latest reports, the exact location of this first store has been confirmed. On 1 April, news broke that Mere was planning to enter the local market with detailed investment plans. The ambitious goal was to open twenty stores in Budapest within a year and expand to 200 stores within three years. These targets seemed optimistic, considering that it took Lidl around 15 years to reach a similar scale in Hungary. Mere's plans also raised doubts as the company had not previously engaged with government or industry stakeholders. Now the Russian chain is preparing to open its first store, as confirmed by Újpesti Szemle, which reported that the store will open in Újpest, specifically in Káposztásmegyer.
Source: Daily News Hungary
UK: Cheapest supermarket named even with loyalty card prices taken into account
Consumer watchdog Which? has crowned Aldi as the UK's cheapest supermarket, beating out pricier competitors like Waitrose by a whopping £32.60. The study also found that Aldi was £19.10 cheaper than Sainsbury's and £15.89 less expensive than Tesco for a comparable shopping list. In its monthly Cheapest Supermarket price comparison, Which? factored in Nectar and Clubcard loyalty prices, examining the cost of groceries and household essentials. The findings revealed Sainsbury's to be £14.49 more costly, while Tesco was £12.49 dearer.
Source: Mirror
Portugal: Mercadona celebrates its fifth anniversary in Portugal
Mercadona celebrates its fifth anniversary in Portugal, where it opened its first store on 2 July 2019 in Vila Nova de Gaia, in Canidelo (Porto). The same year, the company opened a further nine stores, located in the districts of Porto, Aveiro and Braga. Over the past five years, the company has invested a total of 1 billion euros in Portugal, allowing it to open 50 supermarkets (with sales of over 2.77 billion euros) and 2 logistics centres, one in Póvoa de Varzim (Porto) and the other in Almeirim (Santarém). The latter will come online this year after an investment of over 250 million euros. In terms of employment, the company has generated 6,000 stable, quality posts.
Source: Mercadona
UK: Marks & Spencer poaches former Aldi MD for CCO role
Marks & Spencer has bolstered its team by naming a new chief commercial officer, as well as its new supply chain and commercial operations director. Sharing the news on LinkedIn, the retailer said: "We are delighted to announce our new chief commercial officer, Kara Greatorex, who will be taking the reins from Paul Friston who leaves us in October 2024 after 28 years. And introducing our new supply chain and commercial operations director, Jon Downes. "We are at the beginnings of a new M&S and an exciting time for M&S Food." The duo will help to bolster M&S's food business.
Source: Drapers
Australia set to make grocery code mandatory
Australia could impose billion-dollar fines on big supermarket chains that fail to comply with an industry code of conduct, the federal government said late last month as it seeks to address concerns that suppliers have been unfairly squeezed on pricing. Grocers with more than US$3.3 billion in annual revenue — currently Woolworths, Coles, Germany's ALDI and wholesaler Metcash — will be made to comply with the code of conduct that has until now been voluntary, the federal government said. The move comes after a report by former competition minister Craig Emerson found the current code was "failing to address the imbalance of bargaining power between supermarkets and their suppliers, including farmers", the federal government said.
Source: Producer
Kenya: Quickmart CEO shares lessons on retailer's fast growth
The supermarket industry is incredibly fast-paced. There are tens of thousands of products, many stay, and countless shoppers. For the owners, there are many variables to manage daily. Peter Kang'iri is the CEO of the Kenyan supermarket chain Quickmart. For him, there can never be a substitute for local knowledge and experience in the ever-changing industry. "As Kenyans, we better understand the opportunities. We know the population, the number of residents in an area and where we need to go for new locations," he spoke in an interview.
Source: Bizna
South Africa: Shoprite introduces online shopping for small businesses
Shoprite has introduced an online shopping and bulk delivery service for small businesses and spaza or tuck shops in South Africa. This development, which signifies the first move into eCommerce by Shoprite-owned Cash & Carry, a wholesaler, will allow customers to browse and purchase a wide range of goods at highly competitive prices through a fully automated online shopping system, with free delivery within a 50km radius.
According to a statement, spaza shops and smaller retail businesses face significant challenges such as high transportation and fuel costs, difficulties in meeting demand within the informal sector, overstocking resulting in high carrying costs, increased theft risks, and cash flow challenges.
Source: Techpoint
US: Grocery chain removes 'buy more to save' deals in Ontario and beyond
No Frills announced today (July 3) that, effective immediately, offers like "buy two for $5 or one for $2.99″ will no longer be part of the store's promotions. Instead, the low prices will extend to individual items, a press release from No Frills states.
"We pride ourselves on always keeping our customers' needs at heart, and listening to their feedback," said Melanie Singh, president, No Frills. "Our customers told us loud and clear that they don't want to have to buy more to save." Singh indicates that the savings will remain but shoppers won't have to buy multiple items. "With the elimination of multi-buy pricing, we are making it even easier for our customers to manage their budgets every day," Singh said.
Source: Insauga
Canada: Walmart Canada celebrates $750M in charitable donations since 1994
Walmart Canada has announced it has raised $750 million in charitable donations since 1994. Among notable donations are its commitment to supporting disaster preparedness and emergency responses. The company has provided support during ice storms, wildfires, and the pandemic, totalling $70 million for the Canadian Red Cross since 2003.
It has also raised $67 million for the Breakfast Club of Canada since 2003 and contributed more than 107 million meals through its annual Fight Hunger. Change campaign since 2017. Partnerships with children's hospitals have led to $215 million in donations to the Children's Miracle Network since 1994, and several education scholarships have been provided.
Source: Grocery Business
US: Consumers return to brick-and-mortar grocery for summer
As grocery shoppers settle into the warmer months, many are shifting away from eCommerce back to brick-and-mortar stores with more time to make their food purchases. Melissa Myres, director of insights at grocery giant The Kroger Co.'s retail data science, insights and media subsidiary 84.51° stated that many grocery shoppers spend more time in physical stores during the warmer months.
"That could be for a variety of reasons," Myres said. "It's lighter longer. They might have a schedule where it's easier for them to find time. They don't maybe have to worry about weird weather conditions … We've got more foot traffic heading to the brick-and-mortar side of the [grocery] world."
Source: Pymnts
US: Whole Foods isn't a 'whole paycheck' anymore, its cofounder says
Whole Foods has long had a reputation as a pricey place to buy groceries. No more, according to cofounder John Mackey. Since Amazon acquired the grocery chain in 2017, it has cut prices several times. The reductions appeared to take aim at Whole Foods' higher-than-average prices — something that had long led critics to refer to the chain as "Whole Paycheck."
"Amazon let us drop our prices four times," Mackey said in an interview last month with Fortune. "I hardly ever hear the 'whole paycheck' narrative any longer—that's due to Amazon."
Source: Business Insider