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Retail Update - powered by LebensmittelZeitung
Friday, 10 June 2016

Hello, subscribers!
German discount supermarket chain Aldi continues to expand in Australia, in the UK, the buyer of Tesco's Giraffe restaurants has been revealed, and in the USA, a soft drink giant keeps analysts guessing. Have a great weekend, and if you enjoy this issue, don't forget to share. 

australia & asia
Supermarket news Down Under   On Wednesday, the first four of 70 new Aldi stores planned for Western Australia opened their doors. The stores are located in Joondalup, Mirrabooka, Belmont and Kwinana +++ Rather than accept changes recommended by the Fair Work Commission to a contentious wages and conditions agreement, supermarket chain Coles has chosen to scrap the agreement altogether, citing changes would reduce the level of services they could provide. ▪
Ikea to manufacture in India   As it prepares to launch its first store in India next year, the Swedish furniture retailer is considering building a production unit in the country in order to reduce freight costs and protect profit margins. ▪
A 'fair price' for health    In an effort to help the fight against diabetes,  Singapore-based grocer FairPrice has cut the price of its wholegrain rice by 5% for the next three months and made similar reductions on their 1000-plus Healthier Choice Symbol certified items. ▪
Buyer confirmed for Tesco’s Giraffe    The owner of Boparan Ventures, Ranjit Boparan, has purchased the loss-making Giraffe restaurants from Tesco for a ‘modest sum'. ▪
Amazon Fresh arrives in Britain   Ramping up pressure on the traditional big supermarkets, the e-commerce behemoth is targeting Britain’s GBP 178 billion grocery market and has launched its food delivery service, AmazonFresh, in parts of London. Analysts, however, say it is not yet a serious threat to supermarkets. ▪
Argos posts healthy profits   In the midst of a Sainsbury’s takeover, like-for-like sales for the retailer grew in the first quarter. Following on from this positive announcement, Argos’s owner, Home Retail Group, has revealed GBP 30 million has been earmarked to compensate store card customers who were overcharged for late payments. ▪
First quarter results   Specialty apparel retailer Francesca’s Holdings Corp. has seen its income decline but less than Wall Street expected +++ After an untidy start to the year, specialty home furnishings retailer Restoration Hardware Holdings Inc. has posted a net loss of US $ 13.5 million. ▪
High-level shuffling   As part of what they call the “next phase of evolution,” the Walgreens Boots Alliance has appointed two co-CEOs: Alex Gourlay and Ornella Barra +++ Meanwhile, Target Corp. shareholders made several important decisions at the 2016 retailers meeting, which included electing 14 members of the board of directors. ▪
PepsiCo raises suspense   The cancelling of Thursday’s planned webinar to discuss plunging Diet Pepsi sales with bottling partners has increased suspense over what the soft drink giant will do next. The decline in PepsiCo’s flagship diet cola accelerated when they changed the recipe last August. ▪
Tiger Brands sells   For an undisclosed amount, the South African fast-moving consumer goods company is selling the 51% stake of its Ethiopian business to its joint venture partner, EAG. ▪
Shoprite expands   The partnership between the South African grocery chain and meat producer Zambeef is going from strength to strength. Shoprite is now expanding further into Africa with new distribution partnerships. ▪

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