Thursday, 28 July 2016
Hello, dear reader!
Snack giant Mondelez hopes to capture a slice of the Chinese chocolate market, while at the same time, Indian chocolate specialist Choko La eyes Singapore. European discount chains DIA and Biedronka enjoy robust results, and Sainsbury's received approval for its Home Retail takeover bid. Over in the US, Dollar General has acquired stores from Walmart. Read these stories and more in today's issue.
asia & australasia
Chocolate for China Mondelez International, which just posted second-quarter earnings that beat estimates, will start selling its Milka brand in China. The Chinese chocolate market is still small, currently valued at about US$ 2.8 billion, but the US snack giant sees opportunities.
Singaporean expectations Sheng Siong Group, one of the largest supermarket chains in Singapore with 41 stores, reported a higher profit in Q2 and now looks for new sites +++ Indian chocolate specialist Choko La is set to expand across Asia and will open its first outlet at Changi airport next month.
Robust results for discounters Like-for-like sales at Spain's DIA chain grew in the second quarter in all the countries it operates in, signalling a long-awaited turnaround in its home market. Poland’s Biedronka chain, owned by Portuguese Jeronimo Martins, also recorded an increase in Q2 and on a yearly basis.
usa & canada
Dollar General expands offer The Tennessee-based discount chain operator has purchased 41 former Walmart Express locations across 11 states. The move will allow the company, which expects to relocate existing stores to the purchased sites, to expand its fresh meat and produce offerings.
Profit slumps Canadian grocer Loblaw posted a drop in profit, largely due to higher interest expenses and financing charges, but says it is prepared for a price war with its rivals. Amid ongoing efforts to spin off its Save-A-Lot division, Minnesota-based retailer Supervalu reported a lower-than-expected profit.
Restructure for Pick n Pay After persistent minority shareholder pressure in the past few years, the South African supermarket operator got shareholder approval to collapse its archaic pyramid control structure Pick n Pay Holdings (Pikwik), but the control remains with the Ackerman family.