Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung

Hello and good day!
Food behemoth Nestlé, US chain 99 Cent Only as well as European and Canadian retailers have reported excellent or at least better than expected results. Check out their most recent sales numbers, the latest take over plans and things that matter in the euro zone. Have a great start to the week. 

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Asia
Coca Cola buys Chinese drink business   The software drink giant has agreed to buy Xiamen Culiangwang Beverage Technology Co, a producer of plant-based protein drinks sold in China. The deal is valued at approximately US$ 400 million.  ▪
Walmart India names new boss    The retail major has announced the appointment of Pankaj More as the new Head of Technology for the local unit. He will be responsible for boosting the group’s local technology and IT infrastructure. The company's international boss, David Cheesewright, is expected to visit India for the first time this week.  ▪
Developments in India   Indian start-ups are booming with the flow of venture capital investments turning into a flood. To date, the year has seen US$ 2.36 billion in funding, more than three times the figure compared to last year +++ Mumbai-based Reliance Group's (paywall) consolidated net profit rose 8.5%. Reliance retail's revenue grew 31%. ▪
Alibaba fined  The Chinese e-commerce giant has been fined US$ 129,000 by the government for violations by third-party sellers during promotions on its e-commerce platforms. ▪
 europe
Nomad Foods acquires Iglo   Frozen foodmaker Iglo is poised to be purchased by Nomad Foods for EUR 2.6 billion (paywall), reports the Financial Times. The expected deal, which could be announced as early as today in London, would be the latest transaction in a series in Europe as boardroom confidence grows. ▪
Nestlé to appoint new finance boss   The Swiss-based food behemoth said it will appoint a new chief finance officer as the current one, Wan Ling Martello, will take charge of its Asia-Oceania-Africa business. The company reported slightly better-than-expected first-quarter sales last week, with a 4.4% rise on an organic basis. ▪
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Growth reports and commitment issues     Several major regional grocery chains have reported sales, among them are ICA, Norma, Sligro, Esselunga, and Dagrofa +++ The Co-operative Group has told its members that it cannot make an enhanced commitment to stock Fairtrade products because of tough competition among supermarkets. ▪
usa & canada
Boost for Canadian retail and 99 Cents Only    Los Angeles-based company 99 Cents Only is pleased with the progress it has made during what was a ‘transformative year’. The company has returned to  positive earnings for the year that ended Jan. 30 +++ Statistics Canada said retail sales climbed to C$ 42.2 billion as all 11 retail subsectors posted gains. ▪
Foot Locker introduces its first app   The US sportswear company has launched its first smartphone mobile application for iOS and Android, along with 85 “Shoemoji” sneaker replica emoticons. ▪
Electronic payment on the rise   According to new statistics released by the Electronic Payments Association, volume in the United States grew to almost 23 billion electronic payments, an increase of 5%, or 1 billion transactions in 2014. ▪
Developments to watch
Tesco boss warns to leave EU   Tesco’s chairman John Allan, who joined the supermarket giant last month, has warned that large businesses could move their headquarters out of London if Britain leaves the EU, in an apparent swipe at the Tory pledge to hold a referendum on the issue. ▪
Working on 'Google tax'   Australia is to work together with Britain to pursue multinational firms shifting profits offshore to avoid paying taxes, going “further and faster” than OECD plans, Treasurer Joe Hockey said. ▪

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