Germany's Metro has counselled shareholders to reject a EUR 5.8 billion takeover deal, Casino seeks to mop up debt with three hypermarket sales, and Carrefour reports growth in Brazil. Across the water, Amazon is being accused of destroying retail and competitor eBay challenges the online powerhouse with a delivery initiative. Read, share, and have a great day!




Thursday, 25 July 2019





Hello ,

Germany's Metro has counselled shareholders to reject a EUR 5.8 billion takeover deal, Casino seeks to mop up debt with three hypermarket sales, and Carrefour reports growth in Brazil. Across the water, Amazon is being accused of destroying retail and competitor eBay challenges the online powerhouse with a delivery initiative. Read, share, and have a great day!

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Europe & Brazil


Takeover concerns ▪ Metro has advised shareholders to turn down a recent EUR 5.8 billion offer from Czech and Slovak owned EP Global Commerce, on the basis that it undervalues the German wholesale group. Metro's supervisory board reportedly voted against the bid unanimously with one abstention.



Store moves ▪ French multinational Casino has begun the process of selling three hypermarkets in a EUR 42 million move, as it looks to decrease debt. Fashion retailer M&S is continuing its restructure, with a Dorchester store the latest location to get the axe.



Reporting results ▪ The Brazil leg of French retailer Carrefour has reported an 11% profit increase for the second quarter, driven by its wholesale Atacadão line. Embattled exercise wear chain Sports Direct has announced this coming Friday as the release date for its delayed full-year results.



Top changes ▪ Card Factory has nabbed one of grocery major Tesco's former directors. Adam Dury will be taking up the position of Chief Commercial Officer at the card and gifts retailer. French spirits group Rémy Cointreau has begun the search for a new CEO.




US & Canada


Online challenges ▪ Steve Mnuchin, the US Treasury Secretary, has stated that Amazon has 'destroyed the retail industry across the United States.' This comes after the announcement of a Justice Department probe into Big Tech in the US. Meanwhile, logistics company UPS is keeping up with top competitors Amazon and FedEx, with the introduction of several new services.



More competition ▪ Ebay is taking on Amazon with its very own delivery service. The online marketplace has announced the launch of a warehousing and shipping service, which allows merchants to rent space in warehouses worldwide so they can store inventory closer to customers.



Risky retail ▪ The legal cannabis industry is booming, but CBD retailers still have to deal with legal hurdles. Canadian convenience store operator Couche-Tard seems unfazed, with an investment into local cannabis retailer Fire & Flower Holdings Corp.




Asia


Strategic partnership ▪ Salesforce will team up with Alibaba as the American cloud-based provider looks to make inroads into the Chinese software market with its products. The Chinese e-commerce company is now the exclusive provider of Salesforce CRM in mainland China, Hong Kong, Macau and Taiwan.



Popping up ▪ Fast food chain Popeyes is going strong after its entry into Asia, with plans to open 1,500 stores in China over the coming decade. Meanwhile, new stores will be opening in Singapore's Kinex Mall, including eateries and others.




What to watch


Eco teeth ▪ The Austrian leg of international retailing group Spar has launched an eco-friendly toothbrush under its private label Beauty Kiss. The organic toothbrush is made from renewable, primarily bio-based materials, with a handle of 97% castor bean derivatives.



Protein strategies ▪ Unilever, Tesco, and Nestlé are among the top brands working in the recently taking off meat-alternatives industry, according to a report from an investor group. The report detailed the steps 25 top retailers were making to develop strategies for working with and manufacturing alternative protein products.