Hello, dear reader!
Exploring strategic alternatives is on the agenda of retailers on both sides of the Atlantic. Online driver service Uber is looking for growth opportunities outside the box from Latin America to China. Taiwan's largest supermarket chain also has ambitious goals, while Reckitt faces trouble in South Korea. Enjoy the read and don't forget to share.
asia & australia
Profit jump for Japan Tobacco Net income increased about 40% to US$ 1.36 billion for the maker of Camel and Winston in the first three months of the year as smokers stocked up on cigarettes before a planned price hike. Japan Tobacco also gained on the sale of real estate assets.
Co-op sells to Hilco Manchester-based Co-operative group has agreed to offload 36 former Somerfield stores to the Food Retailer Group, a unit of Hilco Capital, as it reshapes its core convenience estate. Co-op already sold off 91 food stores last year, because they weren't in line with the restructuring plans.
Conviviality on shopping spree The parent company of Bargain Booze, which has acquired drinks supplier Matthew Clark seven months ago, is to buy wine distributor and wholesaler Bibendum in a deal worth GBP 60 million. The latter supplies wine, beer and spirits to some 4,000 restaurants, pubs and hotels across the UK.
usa & latin America
End of an era New York-based gourmet grocery chain Fairway, which started 80 years ago as a fresh fruit and veggie stand on Broadway, has officially filed for bankruptcy protection. A majority of the company’s lenders have agreed to a prearranged restructuring plan.
Boost for Tiger Brands The disposal of its Nigerian business, Dangote Flour Mills, has boosted interim earnings up to 28% for Johannesburg-based consumer goods company Tiger Brands. The company expects to report solid operating results at the end of the month.
Double-digit growth for Holdsport South Africa's largest sport goods retailer, which runs the Sportsmans Warehouse and Outdoor Warehouse stores, posted a 15.8% rise in full-year operating profit, showing resilience in a challenging retail landscape.