The ongoing trade dispute between the US and China worries the retail industry and the heavyweights of the sector, including Walmart and Target, have joined forces to call on President Trump to drop tariffs. Meanwhile, meat giant Tyson Food adds a flexitarian slant to the vegan hype. Find out how and have a great weekend.




Friday, 14 June 2019





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The ongoing trade dispute between the US and China worries the retail industry and the heavyweights of the sector, including Walmart and Target, have joined forces to call on President Trump to drop tariffs. Meanwhile, meat giant Tyson Food adds a flexitarian slant to the vegan hype. Find out how and have a great weekend.




Europe


Modest performance ▪ Tesco has reported a slowdown in its first quarter as political uncertainty in Britain held back consumer spending. Nevertheless, the UK supermarket leader sees itself on track with its turnaround strategy and has no plans to exit its European operations, despite problems in Poland.



Delivery extension ▪ British grocer Morrisons and Amazon will expand their same-day online grocery delivery service to more cities across the country. It allows Prime customers to order at 'Morrisons at Amazon', which is then picked at a local store, and delivered by the US online giant.



Seizing opportunities ▪ Carrefour has reached a deal for two credit lines worth a total of EUR 3.9 billion. The French multinational has opened its first Bon Appétit restaurant (in French) in Paris in a bid to expand its offer with fresh, ready-to-eat meals and test the catering market.




United States


Blockchain pilot ▪ Walmart has been asked by the Food and Drug Administration to test a blockchain-based solution for identifying, tracking and tracing prescription drugs and vaccines distributed in the United States. IBM, Merck and KPMG are also part of the project.



Vegan hype ▪ Tyson Food is about to introduce plant-based nuggets, consisting of pea protein and Angus beef, targeting the rapidly growing segment of people who eat meat but are cutting back. As a result of the announcement, shares of start-up Beyond Meat briefly tumbled.



Shipping competition ▪ US discounter Target has made another move in the ongoing same-day delivery war with Walmart and Amazon. The retailer has announced that shoppers in 47 states will now be able to have items delivered the same day through Shipt, a start-up acquired by Target in 2017.



Going public ▪ Chewy, the online pet product retailer owned by PetSmart, sold more shares than expected after increasing the price per share for its initial public offering. Chewy, now valued at USD 8.8 billion, warned that it has yet to turn a profit, despite strong sales growth.




Asia & Australia


Cash injection ▪ Nearly a year after acquiring Indian online retailer Flipkart for USD 16 billion, Walmart is planning to pump another USD 1.2 billion into the business. The money should help the platform to succeed in the domestic e-commerce sector, where it is facing intense competition from Amazon.



Management shake-up ▪ Australian supermarket major Coles is cutting more than 400 jobs at its head office in Melbourne. Two senior executives will also depart the retailer. The reshuffle comes ahead of a major "strategic reset" next week when it will be revealed how the business will be reshaped.




Keep an eye on


Economic concerns ▪ Walmart, Target and more than 600 other companies urged President Trump to resolve the trade dispute with China, saying it will hurt American businesses and consumers. Retailers admitted the tariffs have started to bite and are worried how they could soften the blow.



In full bloom ▪ The British-grown flower industry is growing again, following years of decline, and is now worth EUR 121 million, according to a report by the Department for Environment, Food and Rural Affairs. The uplift has been driven by increased consumer demand for British blooms.