In China, the e-commerce giant Alibaba posts spectacular results, though less than what Wall Street expected; the struggling UK supermarket chain Morrisons shows signs of improvement, and in the USA, Amazon introduces some improvements. Have a great weekend, and if you enjoy this issue, please share.
asia & australasia
Success Down Under Scentre Group, the owner of Westfield shopping malls in Australia and New Zealand, has posted a strong quarterly result, up 6.3% on the same period last year.
Morrisons' comeback Although reporting an overall decline in sales, the UK supermarket chain has seen like-for-like sales grow in the 13 weeks ending May 1, which indicated that changes made by CEO Dave Potts to reorganise and rebuild the grocer have stabilised the business after a four-year slump.
Italian acquisition In order to bolster its position in the vegetable products market, leading Italian dairy and milk group Granarolo has acquired 60% of organic food producer Conbio. The market is expected to continue to grow, reaching as much as EUR 600 million by 2020.
Hypermarket comes to Angola Following the ending of a partnership with Portuguese retailer Sonae, Angolan businesswoman Isabel dos Santos is set to open the first Candando hypermarket in Angola on May 10.
Smoothing the way In order to win the South African government's approval to merge their operations and become Africa's largest Coke bottler, SABMiller and Coke have agreed to concessions. These include a three-year freeze on layoffs and investing in businesses in the country.