Actual Veggies raises $7mln series A, anticipates $20mln+ revenues in 2025: 'We're not trying to imitate meat'
Actual Veggies has raised a $7mln Series A round led by Relentless Consumer Partners to expand its 'veggie-forward' frozen burgers and fries on the back of triple-digit growth. The round, which will help the startup expand its team and support its expansion in retail and foodservice, was also backed by New Fare Partners, Sovos Brands founder Todd Lachman and Tom Brady's business partner Ben Rawitz.
Source: agfundernews.com
US: Instacart CEO says it has 70% share in digital grocery baskets $75 and higher
Instacart has solidified its leadership in the grocery industry by driving digital transformation and integrating online and in-store shopping experiences to meet changing consumer needs, according to CEO Fidji Simo. Fourth-quarter revenue rose 10%, to $883mln while transaction revenue also grew 10%, to $616mln. Full-year revenue increased 11%, to $3.37bln while transaction revenue also rose 11%, to $2.42bln.
Source: pymnts.com
US: Grocery Outlet announces restructuring plan
Grocery Outlet announced that it has begun implementing a restructuring plan aimed at reducing costs and improving long-term profitability. The plan will cost the grocer between $52mln and $61mln. The company expects to open between 33 and 35 stores this year - compared with the 50 to 55 locations it previously announced - Grocery Outlet Chairman Eric Lindberg told investors during the company's fourth-quarter earnings call. At $39.5mln, the grocer's net income was nearly half the $79.4mln it brought in the previous year. The company ended FY 2024 with an over 11% increase in its general and administrative expenses, primarily due to the restructuring plan, and total debt of approximately $478mln, per its earnings release.
Source: grocerydive.com
US: Weis Markets reports fourth quarter and fiscal year 2024 results
Weis Markets, Inc. reported its financial results for the 13-week fourth quarter and the 52-week fiscal year period ended December 28, 2024. Fourth quarter 2024 results: net sales totaled $1.23bln for the 13-week fourth quarter ended December 28, 2024, compared to $1.21bln for the same period in 2023, up 1.2%. Fiscal year 2024 results: net sales totaled $4.77bln for the 52-week fiscal year ended December 28, 2024, compared to $4.70bln for the 52-week fiscal year ended December 30, 2023, up 1.6%.
Source: prnewswire.com
Ahold Delhaize publishes Annual Report 2024 and issues convocation for 2025 Annual General Meeting of Shareholders
Ahold Delhaize published its Annual Report 2024, an integrated report that provides an overview of the company's financial and non-financial performance in 2024. Convocation for 2025 Annual General Meeting of Shareholders (AGM) - Ahold Delhaize's Annual Report 2024 will be on the agenda of the AGM, which will be held on April 9, 2025. The convocation, agenda (including explanatory notes), and other relevant documentation for the AGM are available here.
Source: newsroom.aholddelhaize.com
India: Zepto strengthens footprint with more than 20 dark stores operational in TN
Quick commerce company Zepto has strengthened its presence beyond Chennai in Tamil Nadu and is now serving several districts including Coimbatore, Tiruchirappalli, Madurai, Vellore and Salem, the company said. In Tamil Nadu, over 100 farmers provide tender coconuts and green vegetables from Palacode and Pollachi to serve various customers including users of Zepto platform.
Source: dtnext.in
Belgium: Colruyt follows suit, opens all Okay stores on Sundays
Colruyt Group has announced it wants to open all of its Okay stores on Sunday mornings, to meet the demand of customers who want to shop on Sundays as well. With this intended move, the Belgian retailer responds to the tidal change initiated by Delhaize.
Source: retaildetail.eu
Lidl champions British agriculture with inaugural Farming Conference
Lidl reported: "Lidl has reinforced its commitment to British agriculture by bringing together over 130 farmers, food producers, and industry leaders for its inaugural Grassroots British Farming Conference. Held at Harper Adams University, the UK's leading institution for agri-food and rural sectors, the two-day event provided a platform for collaboration, innovation, and tackling the future challenges of British farming".
Source: corporate.lidl.co.uk
Woolworths suffers rare $190mln blow to profits after industrial action closed down warehouses
Supermarket giant Woolworths has suffered a rare $190mln blow to profits in its half-year results. The Woolworths Group - which operates in Australia and NZ and owns Big W - reported a 21% drop in its net profit for the six months to January 5 to $739mln. The unexpected profit slip has been blamed on industrial action which triggered a 13-day warehouse shutdown and supply chain bottleneck, rising store wages and less brand loyalty, Woolworths said in an ASX statement.
Source: 9news.com.au
DESPAR Italia regional wholesaler Maiora named as Top Employer
Maiora, DESPAR Italia regional wholesaler for the Central-South of Italy, was named as a Top Employer by the Top Employers Institute for the third consecutive year.
Source: spar-international.com
India: It is time for HOPCOMS grapes and watermelon mela in Bengaluru
The annual 'Grapes and Watermelon mela' organised by the Horticultural Producers' Co-operative Marketing and Processing Society (HOPCOMS) was inaugurated on February 24 at the HOPCOMS head office in Lalbagh, Bengaluru. A wide range of watermelons - Zigna Gold, Watermelon Yellow, Watermelon namesake, Wide watermelon, Kiran watermelon - and varieties of grapes - Grape T. S., Grape Australia Red Globe, Grape Krishna Sharad Super, Grapefruit (Jumbo Sharad), Grape T. G., Grape Bangalore Blue and Grapes (plames) - are being sold in the mela this time. The fruits will be sold at a 10% discount during the mela at all the HOPCOMS stalls in Bengaluru.
Source: thehindu.com
Biedronka to open first store in Slovakia on 5 March
Portuguese retail group Jerónimo Martins has confirmed the opening of the first Biedronka store in the Slovakian city of Miloslavov and a distribution centre in Voderady on 5 March 2025.
Source: esmmagazine.com
New Zealand: PAK'nSAVE Highland Park orders dozens of extra trolleys to keep up with demand
PAK'nSAVE Highland Park has been so overwhelmingly popular since its grand opening that the store brought in dozens of extra trolleys to keep up with demand. The top selling fresh items from opening day were: 6,800 heads of sweetcorn; 3,700 punnets of blueberries; 1,500 watermelons.
Source: foodstuffs.co.nz
Switzerland: Migros ends franchise partnership with Alnatura
Swiss retailer Migros has decided to end its franchise partnership with organic retailer Alnatura. Migros Cooperative Zurich is the franchisee of Alnatura Germany and operates 25 organic supermarkets throughout German-speaking Switzerland.
Source: esmmagazine.com