Singapore: Grab reports third quarter 2024 results
Grab Holdings Limited announced unaudited financial results for the third quarter ended September 30, 2024. Revenue grew 17% year-over-year, or 20% on a constant currency basis to $716mln. On-Demand GMV grew 15% year-over-year, or 18% on a constant currency basis to $4.7bln. Profit for the quarter was positive at $15mln. Adjusted EBITDA improved by $62mln year-over-year to an all-time high of $90mln. Operating cash flow of $338mln in the third quarter, and Adjusted Free Cash Flow of $76mln on a trailing 12-month basis.
Source: grab.com
Ireland: Tesco celebrates opening of first store in Kilkenny City
Tesco celebrated the grand opening of its very first store in Kilkenny City, with Lord Mayor Andrew McGuinness joining the official ribbon cutting. The new store on High Street in the city centre has created 19 new jobs, and offers an extensive range of groceries, fresh produce, household items, and much more.
Source: tescoireland.ie
Kilimo Fresh connects farmers and consumers in Tanzania
Kilimo Fresh is a digital solution developed by a Tanzanian startup that enables consumers to buy fresh produce online while making it easier for farmers to sell their products. Based in Dar es Salaam, the startup was founded in 2018 by Baraka Chijenga. To use the platform, customers must access the e-commerce website through a web browser. They can browse a wide range of fresh products, including grains, fruits, milk, and various types of flour. While initial purchases can be made without an account, registration is required to complete transactions.
Source: wearetech.africa
Hungary: SPAR named 'Supermarket Chain of the Year 2024'
SPAR Hungary was awarded the title of 'Supermarket Chain of the Year 2024' and its INTERSPAR Hypermarket in Debrecen received the 'Hypermarket of the Year 2024' award. SPAR Korall fresh salad mix was named the winner of a blind test conducted by the blog Maradok a pénzemnél (Keeping My Money). The test compared pre-packed salads based on smell, texture, and taste. The winning mix was praised for its fresh and pleasant aroma and variety of ingredients.
Source: spar-international.com
UK: Map shows full list of 25 Central Co-Op stores being taken over
More than a dozen Central Co-Op branches will shut their doors soon to make way for new businesses. Over the next few months, 19 food stores and six funeral homes will be taken over due to 'financial unsustainability'.
Source and map: metro.co.uk
India: CEO Deepinder Goyal shares the story behind the name Zomato
Deepinder Goyal, founder and CEO of Zomato, recently appeared on The Great Indian Kapil Show and revealed the story behind his company's name. Initially, Goyal wanted to name it "tomato.com" but couldn't secure the domain name. He then changed one letter, and "Zomato" was born.
Source: timesofindia.indiatimes.com
DPD lays claim to UK first as company launches autonomous 'locker on wheels' robot deliveries
DPD says it has become the first UK parcel delivery company to deploy Ottonomy's multi-compartment, fully autonomous 'locker' robot, Ottobot. DPD's first locker robot will be deployed in Milton Keynes, where the company has been operating autonomous robot deliveries since July 2022, which have also since been rolled out in Raunds, Bristol and Lincoln.
Source: retailtechinnovationhub.com
Henrik Samuelson appointed FoodDrinkEurope President
FoodDrinkEurope is pleased to announce the appointment of Henrik Samuelson, SVP Customer Brands at Paulig, as its new President. He takes over from Marco Settembri, former Nestlé CEO Zone Europe, who held the position of President at FoodDrinkEurope since 2020.
Source: fooddrinkeurope.eu
Instacart and Coles Supermarkets to launch smart trolleys in Australia
Instacart and Coles Supermarkets announced that Caper Carts, Instacart's AI-powered smart trolleys, will be coming to Melbourne, starting in early 2025 with its Richmond Traders location in Victoria. This milestone launch with Coles Supermarkets in Australia marks Instacart's first retail partnership that brings Caper Carts to the APAC region.
In other news, Instacart announces third quarter 2024 financial results.
Source: prnewswire.com
Japan: Seven & i says receives buyout proposal from founding Ito family
Japan's Seven & i Holdings has received a buyout proposal from a member of its founding Ito family, it said, following a report that the 7-Eleven owner was considering a management buyout offer worth up to $58bln.
Source: reuters.com
Just Eat Takeaway.com sells Grubhub to Wonder
Just Eat Takeaway.com N.V., hereinafter the "Company", or together with its group companies "Just Eat Takeaway.com", is pleased to announce that it has entered into a definitive agreement to sell Grubhub Inc. ("Grubhub") to Wonder Group, Inc. ("Wonder") for an enterprise value of USD 650mln (the "Transaction").
Source: justeattakeaway.com
US: New Whole Foods Market in Nashua, New Hampshire, to open December 10
Whole Foods Market will open a new 44,600-square-foot store located at 272 Daniel Webster Highway on December 10. Features of the new Nashua store include: an array of certified organic, conventional and Sourced for Good Local from New Hampshire items include Eco Apples and squash and cider from Brookdale Fruit Farm.
Source: media.wholefoodsmarket.com
One-on-One with Lidl US CEO Joel Rampoldt
Fresh from his informative presentation at Progressive Grocer's Grocery Impact event, which took place November 6-8 in Orlando, Florida, Lidl US CEO Joel Rampoldt spent a little extra time with Progressive Grocer answering questions in regard to information shared during his presentation, as well as some insights into how the deep discounter views its competition, what its site-selection process entails, the qualities it looks for in employees, and whether American consumers are confused by the eclectic mix of general merchandise items offered by Lidl.
Source: progressivegrocer.com
Canada: Longo's to open 40th store
Ontario grocer Longo's is set to open its 40th store next week. On November 21, the Empire-owned chain will hold the grand opening of its long-awaited Kitchener location, located at 1950 Fischer-Hallman Road.
Source: canadiangrocer.com
US: Stew Leonard's now on Uber Eats
East Coast grocery chain Stew Leonard's announced a new partnership with Uber Eats to provide delivery to its stores across New York, New Jersey, and Connecticut.
Source: supermarketnews.com
US: Mushrooms emerge as growth opportunity across the grocery landscape
Grand View Research estimated the U.S. mushroom market size at $2.97bln in 2023, and the firm projects a compound annual growth rate of 9.4% from 2024 through 2030 as health-conscious consumers explore the fungi as a plant-based eating option. In its 2024 Consumer Trend Forecast, grocery delivery specialist Instacart was among the many organizations that cited mushrooms as one of the year's top food trends. Against that backdrop, food startups Pan's, Meati, and Renude are landing distribution for their mushroom-based jerky, cutlets, coffee, and more in national retailers such as Whole Foods, Meijer, and Target.
Source: uschamber.com