Intermarché changes Belgian management
Intermarché has appointed an executive director in Belgium: Arnaud Meyrant leaves Louis Delhaize Group to lead Intermarché's Belgian branch, together with two independent supermarket entrepreneurs.
Source: retaildetail.eu
Polish retailer Zabka's quarterly adjusted EBITDA seen at 984mln zlotys
Polish convenience store chain Zabka is expected to report an 18% increase in fourth-quarter adjusted EBITDA at 984mln zlotys ($254.20mln), a Reuters poll showed. Zabka is expected to report revenues of 5.95bln zlotys, an increase from 5.04bln zlotys a year ago, driven by organic growth and the expansion of its store network.
Source: reuters.com
British quick commerce firm Zapp preps launch in Dubai but faces hugely competitive Middle East market
© Rogier Peterse | FP.comBritish rapid delivery startup Zapp is gearing up to enter the Dubai market later this year. A spokesperson said: "We are always looking for opportunities to grow our business and are considering launching in the region as early as this year". They did not provide additional details.Source: retailtechinnovationhub.com
Cold Storage, Giant supermarket chains in Singapore to be acquired by Malaysian company in S$125mln deal
© Rogier Peterse | FP.comCold Storage Singapore, the country's oldest supermarket chain, will be bought over by Malaysian retail group Macrovalue in a deal that is worth S$125mln (US$93mln). The acquisition includes 48 Cold Storage stores under its CS Fresh, CS Gold, Cold Storage and Jasons Deli brands, as well as 41 Giant stores and two distribution centres in Singapore. Singapore-listed DFI Group, which currently owns Cold Storage and Giant in Singapore, said Macrovalue is a "trusted partner".Source: channelnewsasia.com
Croatia: Studenac market focuses on digital solutions and sustainability with new logistics and distribution centre
Croatian retailer Studenac market has provided an update on the status of construction of a new logistics and distribution centre in Velika Gorica, pitched as a key step in strengthening its supply chain. On 36,000 square metres of warehouse space, with an investment of over €10mln, the aim here is to optimise distribution, improve logistics processes and create over 400 new jobs.
Source: retailtechinnovationhub.com
Meituan joins China's AI spending race, says investing 'billions' in chips
Wang Xing, CEO of China's largest food delivery firm Meituan, said in a post-earnings call that the company is pouring "billions" into chips used to train AI models, with more investment planned this year.
Source: reuters.com
UAE: Growing profits, record cash and reduced debt bolster Majid Al Futtaim's strong full year 2024 financial results
Majid Al Futtaim reported: "Key Highlights: Reported 3% increase in EBITDA at AED 4.6bln and a 1% increase in revenue to AED 33.9bln, on a constant currency basis. Net profit for the year up by 18% at AED 2.04bln before impairments, valuation gains and UAE corporate income tax".
Source: majidalfuttaim.com
Scottish scheme to sell local produce delivers sharp increase in turnover
A Scottish scheme encouraging retailers to sell more local produce has proved so successful it will be extended for another year. The Scottish Grocers' Federation (SGF) Go Local programme, which was launched at the end of 2020, will now be extended until the end of May next year, its sixth renewal. It now works with 158 stores.
Source: talkingretail.com
Kosovo's Viva Fresh Group acquires Spar Albania
Kosovo-based retailer Viva Fresh Group said it has acquired all shares in grocery chain Spar Albania from Albania-based retail-to-construction conglomerate Balfin Group. The strategic move strengthens Viva Fresh Group's presence in Albania, Viva Fresh said in a Linkedin post. Financial details were not disclosed.
Source: seenews.com
Heavy debt pushes Carrefour Israel to continued losses
© Rogier Peterse | FP.comDespite improved sales, the supermarket chain reported a loss of NIS 113mln in 2024. Global Retail, which operates Carrefour's supermarket chain in Israel, which was launched two years ago, saw a 10% rise in revenue in 2024 to NIS 3.34bln. The rise was mainly due to additional branches being renovated and reopened as Carrefour supermarkets after May 2023.Source: en.globes.co.il
US: New Seasons Market to open 22nd location
New Seasons Market revealed that it will open its newest store at Tanasbourne Town Center in Hillsboro, Oregon, on Wednesday, April 9, marking the grocer's 22nd location and second in Hillsboro, after the Orenco Station store, which opened in 2001.
Source: progressivegrocer.com
US: The Fresh Market brings fresh flavors to Algonquin with 8th Chicago-area store opening
The Fresh Market announced the grand opening of its newest store in Algonquin, Illinois marking the premium grocery chain's eighth storefront in the greater Chicago-area, and its fourth opening in the last five months. "The greater Chicago-area has presented us so many fantastic opportunities and we're excited to bring our brand of impeccable hospitality to our new guests here in Algonquin", said The Fresh Market CEO, Brian Johnson.
Source: businesswire.com
US: Just Salad introduces market plates, bringing elevated entrées to the fast-casual space
Just Salad, the fast-casual restaurant chain committed to making everyday health and sustainability possible, announced the launch of its newest menu category, Market Plates, designed to provide variety for its guests, with a particular focus on the dinner daypart for health-conscious consumers. In addition to Market Plates, Just Salad debuts its Spring 2025 menu, featuring four limited-time offerings that showcase fresh, vibrant flavors of the season.
Source: prnewswire.com
HelloFresh sees potential hit from US tariffs, CFO says
German meal-kit maker HelloFresh sees a potential impact in the lower double digit euro million number from U.S. tariffs, its finance chief said. The company sources certain vegetables from Mexico, for example, Chief Financial Officer Christian Gaertner said, so tariffs would have some impact.
Source: reuters.com