Dollar General: strong second quarter
US: Dollar Tree cuts profit forecast on price cuts at Family Dollar
Dollar Tree Inc slashed its full-year profit forecast, blaming price cuts at its Family Dollar stores in a bid to spur demand among low-income shoppers and compete with other retailers who have increased discounts . Dollar Tree cut its fiscal 2022 earnings forecast to $7.10 to $7.40 per share from $7.80 to $8.20.
United States: For organic farmers in Colorado, a Denver startup offers the opportunity to reach more buyers
A new start-up called Pinemelon, launched in April this year, offers participating farmers the chance to expand their reach to customers by cutting out the middleman. Pinemelon is the sister company of Kazakhstan-based Arbuz online grocery store. Currently, the only location in the United States is in Denver. His 30,000 square foot warehouse contains staple foods, local produce and meat that he can deliver to anyone within a half hour radius.
Should expiration dates be removed on groceries? Majority of Canadians Say No: Study
With several major UK grocery chains planning to completely or partially eliminate best-before dates on perishable goods, urging shoppers to exercise discernment instead, a new study suggests Canadian shoppers would be wary of seeing them removed. Conducted by Dalhousie University’s Agri-Food Analytics Lab in partnership with Angus Reid, the study of 1,508 Canadians found that only about a quarter of respondents (27%) support eliminating best before dates for groceries. “There is no appetite for the elimination of best before dates in Canada,” Sylvain Charlesbois, director of the Agrifood Analysis Laboratory, told Canadian Grocer. “I think we are addicted to expiry dates”.
United States: Dollar General posts solid Q2 and optimistic forecasts
Dollar General Corp. reported a strong second quarter with revenue and net income growth, and also raised its full-year sales outlook as it weathered the challenges of inflation and economic uncertainty. Dollar General reported net income of $678 million, with earnings per share of $2.98, for the quarter ended July 29, compared with $637 million and $2.69 per share in the year-ago quarter. former. Analysts had expected earnings per share of $2.94.
Walmart offers to buy South African retailer Massmart for $377 million
U.S. retail giant Walmart Inc has launched a 6.4 billion rand ($377.6 million) bid for the 47% stake in Massmart it does not already own, a deal according to Massmart who would back the overhaul of the loss-making South African retailer. Massmart’s announcement of the bid sent its shares up 46%. If approved by shareholders, the retailer would be delisted from the Johannesburg Stock Exchange.
India: Zomato integrates grocery delivery via Blinkit on main app in pilot test
Zomato has launched a pilot test of grocery delivery via Blinkit on its main app in Delhi-NCR, as the online food aggregator aims to ‘accelerate’ the delivery platform’s Blinkit journey by 10 minutes to profitability. The pilot test is currently being held in select circles of Delhi-NCR, and after analyzing the response, it will also be rolled out to other cities, according to company sources.
Maxima Latvia opens Maxima X store in Bauska
Lithuanian retailer Maxima Latvia has opened a new “Maxima X” concept store in Bauska, Pionieru iela 2, after months of renovation. Maxima X format stores offer a wide range of Meister Mark’s ready-to-eat take-out meals and a wide assortment of fresh vegetables and fruits.
United Kingdom: Iceland collapses over an entire year
Iceland fell into the red last year, which led to the downgrading of its rating by Moody’s. Companies House accounts for the year to March 25 revealed Iceland plunged into a pre-tax loss of £4.1million, from a profit of £73.1million the year previous, which was boosted by the exceptional demand of Covid. Iceland’s sales fell 4.3% to £3.55bn, while its market share fell slightly to 2.3% from 2.4%.
Croatia: Studenac invests in its operations before the changeover to the euro
Croatian retailer Studenac Market has invested in employee training, an upgrade of IT systems and customer communication initiatives ahead of the country’s transition to the euro, which begins January 1, 2023. From September 5 , all prices in Croatia must be displayed in both local languages kuna and euro, but euro banknotes and coins will not be accepted until January 1. During the first two weeks of the year, customers will be able to use either currency, and those who pay in kuna will receive their change in euros, while prices in kuna will continue to be displayed until the end of the year.
SPAR Scotland strengthens its fleet with four new additions
CJ Lang & Son Ltd, SPAR wholesaler in Scotland, has recently taken delivery of the latest four additions to its fleet of vehicles, ready to be deployed for deliveries to SPAR stores and communities across Scotland. Custom-made Gray and Adams refrigerated bodies are associated with the all-new Scania P320 vehicles and the new Dhollandia suspended tail lifts. Combined with these vehicles, CJ Lang is the first company in the UK to incorporate the very latest Thermo-King V-1000 motorless refrigeration units as part of their ongoing effort to reduce their impact on the environment.
South Korea: BGF Retail partners with Hyundai’s in-house startup to launch a pilot robot delivery service
BGF Retail Co., the operator of CU convenience stores, said it has reached a business agreement with MOBINN, an internal Hyundai Motor Co. startup, to launch a pilot robot delivery service. After setting up a last-mile business advisory body, the two companies are expected to launch the convenience store robot delivery pilot service in September using an obstacle-surmounting autonomous robot developed by MOBINN.
Belgium: Ter Beke buys vegan dumplings after falling profits
Belgian food processor Ter Beke feasts on vegetable dumplings after a semester plagued by inflation. Investing half a million euros in Davai Dumplings should give it the opportunity to expand into Germany and the UK. Ter Beke takes a minority stake of 520,000 euros in the Belgian start-up Davai Dumplings, which develops and produces vegetable dumplings for the frozen food section.
UK co-op to sell petrol arm for £450m in bid to bolster balance sheet
The Co-op Group is in talks to sell its oil fork division for £450million as it seeks to reduce debt and strengthen its balance sheet. Sky News has learned that Britain’s largest mutual is in advanced negotiations to offload around 130 fuel retail sites across the country.
Singapore-based e-commerce company Qoo10 to acquire TMON: sources
Singapore-based e-commerce company Qoo10 plans to acquire TMON Inc. through a share swap deal, industry sources have said. TMON’s two largest shareholders – Anchor Equity Partners and Kohlberg Kravis Roberts & Co. – have agreed to the share swap deal with Qoo10, the sources say. As part of the agreement, the two shareholders will exchange their 81.74% stake in TMON with new shares issued by Qoo10’s logistics subsidiary, Qxpress. The remaining amount will be paid in cash, sources said.