Hello, dear reader!
Walmart keeps working to make inroads against Amazon. The world's largest retailer posted its best quarter result in more than four years, reflecting its focus on a more efficient in-store experience and better options for online shoppers. Over in Australia, supermarket giant Woolies also reported a profit boost, beating its arch-rival Coles. Enjoy your Wednesday bulletin and don't forget to share.
USA & Canada
Retailer Home Depot has also reason to rejoice as it is closing in on the $100 billion mark in annual sales. Home improvement retailer Lowe's, on the other hand, has announced that more than 500 full-time corporate employees will lose their jobs, but is also seeking workers to fill more than 100 new positions.
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
Asia & Australia
Woolies gains momentum
Australia's biggest supermarket operator, Woolworths, has beaten competitor Coles on same-store sales growth in the December quarter for the first time since September 2009 and also reported a 1.9% like-for-like sales growth in the first half, however, CEO Brad Banducci warns that there is more work to do.
Europe & Africa
Looking for growth overseas
Food retailer Shoprite will focus on expansion outside Africa after talks with Steinhoff to create the continent’s biggest retailer fell apart. Meanwhile, Italian food manufacturer Cremonini has opened a cured meat plant in Canada in a joint venture with Canadian company Italpasta and is preparing to acquire a large Hong Kong-based distributor.
Tackling tax loopholes
European Union finance ministers agreed to close loopholes multinational corporations such as Apple, Amazon, Google and Starbucks use to skip taxation on dividends. The new rules are due to go into effect in 2020. Ministers also found a compromise on the criteria to define a tax haven.
What to watch
Aldi sources British
The German discounter tops the list for offering the most 'British-sourced products'. Aldi is also the first retailer to sign a corresponding commitment with the National Farmers Union, which published a guide to help shoppers supporting the country's farmers.