Thursday, 09 February 2017
Walmart is determined to help its ailing British supermarket arm Asda win back market share. Meanwhile, the fintech affiliate of Chinese powerhouse Alibaba is pushing ahead with its global expansion plans and aims to raise more than US$ 3 billion for an acquisition spree. These stories and a lot more are featured in today's issue. Enjoy the read!
ASIA & AFRICA
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
Nakumatt improves supply chain
The Kenyan supermarket chain has completed the first phase of its Warehouse Management System integration project at its Nairobi logistics hub. Once successfully installed, it will provide supply chain efficiencies across East Africa.
Russia's Detsky Mir, which has opened more than 200 stores in the last two years, has raised US$ 355 million in an initial public offering. The country's largest toy retailer is valued at almost US$ 1 billion and will start trading on Feb. 10. Meanwhile, South Africa's Foschini Group wants to open 100 stores for its recently acquired Damsel in a Dress fashion brand, mainly in Germany and Spain.
Profits in Scandinavia
Danish brewer Carlsberg has posted a 5% increase in operating profit, but is concerned by a shrinking Russian and Chinese beer market. Swedish retail group ICA Gruppen also reported positive results with consolidated net sales in the fourth quarter of around EUR 2.84 billion.
USA & Canada
Dollar General offers jobs
The US discounter has announced plans to create around 10,000 new jobs this year. The company is also set to open 1,000 new outlets as well as two new distribution centres. The announcement comes as it tests a new, smaller-store format under a new banner.
Whole Foods disappoints
Squeezed by increased competition, the Texas-based supermarket chain reported a disappointing first quarter with a net income of US$ 95 million and also lowered full-year sales and earnings guidance. It was the chain’s sixth consecutive sales decline