Hello, dear reader
The first German supermarket to sell waste food has opened in Cologne. Though, perhaps, this is just a small step towards a zero-waste society, it will most certainly provide a major shift in social awareness. Meanwhile, Britain is still coping with a lettuce crisis and German consumers have increased their fruit and veg spending. Read these stories and a lot more in today's issue. You are welcome to share the news.
ASIA & AUSTRALIA & MIDDLE EAST
Walmart gets stronger in China
The American retail giant continues to consolidate its position in China by increasing its stake in e-commerce company JD.com to 12.1%, worth about US$ 4.87 billion. Meanwhile, Korean retailer Lotte is closing stores in the Beijing area amid rumours it might exit China due to a series of regulatory investigations.
Aussie suppliers squeezed
Food producers and manufacturers are being warned that the supermarket price squeeze will continue for some time yet. This has prompted the Food and Grocery Council to warn that companies will be forced to move off shore in order to cut costs.
Source Great British Foods at IFE 2017
IFE 2017 (The International Food & Drink Event) takes place 19-22 March at ExCeL London. The UK's biggest food & drink event will be packed with innovative food & drink products from 1,350 suppliers. IFE is divided into 9 easy to navigate sections, including a Great British & Irish foods section. Find inspiration for your retail shelves at the show - get your free trade ticket at
The Abu Dhabi-headquartered retail group plans to open 20 hypermarkets in Saudi Arabia by 2020. At the moment, it operates eight outlets in the country and has just launched a hypermarket in the north-western province of the kingdom.
Swedish retailer Axfood thinks that 2016 was its 'best year' to date as it reported record full-year sales figures and a consolidated net sales of EUR 4.5 billion, while UK drug maker GlaxoSmithKline is expected to post a quarterly profit of GBP 1.1 billion, from a net loss of GBP 354 million a year earlier.
USA & Canada
Mondelēz misses estimates
The Illinois-based food giant is challenged by a strong dollar that eroded the value of sales outside the US. The company reported lower-than-expected holiday-quarter sales and expects its 2017 revenue growth to be hit by 1%.
Food for thought
Waste for sale
The Good Food store has opened in Cologne. It is the first of its kind in Germany and the third in the European Union, selling products of all kinds, from vegetables to beer with the unusual twist that all these products would otherwise have been destroyed as waste.