Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Thursday, 11 August 2016

Hello, dear reader!
Crunching numbers: Chinese giants Alibaba, and German consumer products giant Henkel reveal results. Aldi was crowned retailer of the year in Australia. In Europe, Tesco's One Stop cuts a number of grocery prices and the fight against food waste continues. Across the Atlantic, Canadian retailers Giant Tiger and Surmesur have ambitious growth plans, while Brazilian start-up Ifood is set to expand in Latin America.

Asia & Australasia
Revealing results, China’s second biggest e-commerce company, is targeting profitability after it posted its Q2 2016 earnings, although revenue growth continues to flatten. Meanwhile, analysts estimate that market titan Alibaba will report a net income of US$ 1.5 billion on revenues of US$ 3 billion, up 48% year-over-year. ▪
Investing in Yonghui   Hong Kong-based Dairy Farm has acquired further shares in Yonghui Superstores, worth approx. US$ 190 million. The Shanghai-listed hypermarket and supermarket operator, China's leading retailer, enjoyed an increase in revenue and profit in the first half year. ▪
Winners Down Under   While on a major expansion path in Australia, German discounter Aldi has won the 'Retailer of the Year' award in Melbourne for investing in its staff and offering development opportunities +++ Australasian IT services provider Datacom has hit the NZ$ 1 billion mark in sales in 2016 full-year revenue. ▪
europe & Middle East
Profit jump in Israel   Shufersal, the country’s leading supermarket chain, has reported that its numbers nearly quadrupled in the second quarter and posted a net profit of US$ 16 million, revenue rose 11.4%. Results for the period were boosted by a Jewish holiday. ▪
Price cuts at One Stop   British retailer Tesco has extended its ‘Project Reset’ (paywall) rationalisation programme to its convenience chain unit, One Stop, which has announced a number of price cuts across its grocery range. 88 lines have been reduced, with an average total reduction of 8.5%. ▪
Fighting food waste   The European Commission has launched an ‘EU Platform on Food Losses and Food Waste’ which will gather 70 member organisations  to help achieving the 'UN Sustainable Development Goal' of massively reducing global food waste and losses by 2030. ▪
Big shoes to fill   The new CEO at the helm of German consumer goods giant Henkel, Hans Van Bylen, has reported a 8% rise in profits to EUR 561 million in the second quarter. Sales decreased by 0.9% to EUR 4.65 billion due to negative currency effects. Van Bylen took over from his celebrated predecessor Kasper Rorsted in May. Henkel raised its full-year guidance.    ▪


Canada & Latin america
Eyeing expansion   Ottawa-based retailer Giant Tiger, which operates currently 220 stores, wants to open 10 to 15 new stores every year and also has plans to revamp the design of its outlets. Fellow Canadian Surmesur, a menswear start-up, is also determined to grow and has opened its first store across the border in the US. ▪
Pharma giant scrutinized   US federal prosecutors are investigating whether Canada-based drugmaker Valeant Pharmaceuticals defrauded insurers by hiding a relationship with speciality pharmacy Philidor. On Tuesday, Valeant reported results that fell short of analysts' expectations. ▪
Food start-up steps up    Brazilian on-demand food delivery company Ifood is set to conquer the markets south of the US border. The start-up has picked up US$ 30 million in new financing and says it will expand in Latin American markets with the money. ▪
thought-provoking finds
Sponsors under fire   The Olympic Games in Rio has been branded a “carnival of junk food marketing” as campaigners published new research on advertising tactics used by Coca-Cola, McDonald’s and Mars brand M&M. Kellogg's were also singled out as sponsors. ▪
Contactless payment on the rise   A new study from Juniper Research reveals that the global value of contactless payments conducted via cards, mobile and wearables will approach US$ 500 billion annually by 2017; this is up from an estimated US$ 321 billion this year. ▪

If this newsletter was forwarded to you, subscribe here!
For questions or comments please contact us here

To advertise in Retail Update click here

RetailUpdate is a product delivered to you by