Amazon has made a formal bid for Flipkart, complicating rival Walmart's interest in the Indian retailer. European retail alliance AgeCore will return Nestlé products to store shelves after a price dispute. Across the Atlantic, Apple has seen its best ever second quarter, but guitar giant Gibson has seen its luck go the other way. Enjoy the read, and don't forget to share.




Thursday, 03 May 2018





Hello ,

Amazon has made a formal bid for Flipkart, complicating rival Walmart's interest in the Indian retailer. European retail alliance AgeCore will return Nestlé products to store shelves after a price dispute. Across the Atlantic, Apple has seen its best ever second quarter, but guitar giant Gibson has seen its luck go the other way. Enjoy the read, and don't forget to share.




Asia & Australia


Amazon bids ▪ The e-commerce giant has made a formal offer for a 60% share in Flipkart. The Indian online retailer's founders and investors, including founder Sachin Basal, who will oversee final negotiations, reportedly continue however to be in favour of a deal with Walmart, talks with whom are still ongoing.



Racing ahead ▪ Woolworths posted a 4.4% rise in third quarter same store food sales, soundly beating the performance of rival Coles, which saw a mere 0.9% increase in same store sales in the same period. Woolworths has been cutting shelf prices in a bid to lure customers back from competing discounters like Aldi.



Food focuses ▪ Asian-themed casual dining restaurant P.F. Chang’s has opened its first Chinese location in Shanghai, branding itself around its American origins. Thai group Minor International has acquired a 75% stake in London-based Benihana Holdings, known for its Japanese-inspired grill restaurants.




Europe


Coming to terms ▪ Nestlé has reached an agreement (in German) with the six members of European retail alliance AgeCore, after a months-long pricing row. The Geneva-based group, which includes Germany’s Edeka and Switzerland’s Coop and represents a tenth of the food producer's sales, kept Nestlé products off their shelves as they sought better supply terms.



Final fight ▪ A group of Nisa shopkeepers have acquired legal aid in a last-ditch attempt to stop the Co-op's GBP 143 million takeover of the convenience store chain. The group of 20 to 30 shopkeepers, which calls itself "Justice for Nisa", has hired a lawyer to represent itself at a hearing to approve a fast-track takeover process.



Supermarket bites ▪ Morrisons has launched a promotion across 32 lines of tea, coffee, biscuits, and cereals, to raise money for children with cancer, with 5p from every pack sold going to charity. Tesco has introduced smaller wine bottle sizes in a bid to appease millennial consumers, whom the supermarket says drink less than their parents.




US & Canada


Guitar zero ▪ Famed guitar manufacturers Gibson Brands have filed for bankruptcy protection, citing failed investments in consumer electronics. The Nashville-based company says it plans to continue designing, building, and selling musical instruments and equipment, but will close its headphone and electronics accessories arms.



Apple gains ▪ The California-based giant posted its best-ever second quarter, with revenues of over USD 61 billion, despite analyst worries that the high price of its thousand-dollar iPhone X would dent sales. The company also promised an additional USD 100 billion in stock buybacks, an increase double what Apple set aside last year.



Tasty takings ▪ Snackmaker Mondelez International beat analyst estimates with a 5.5% increase in net revenue during the first financial quarter 2018. North America was the only market where the firm saw no growth in the quarter, instead taking in a decrease in net revenue of 1.3% compared to 2017.




Africa


Drifting outward ▪ Cape Town-based brewery Drifter Brewing Company has raised R3 million through a new crowdfunding website, and now plans to go global. The brewery, which currently has 360 stores across South Africa and exports to Zimbabwe and Namibia, raised over R1 million in the first week of funding.