Quarterly results continue to roll in. Cookie maker Mondelez and P&G beat the expectations, while British household goods maker Reckitt and tech giant Samsung suffered some losses. The Metro takeover story is going into the next round with the Czech investor aiming to find a compromise. Read on to find out what else happened in our industry!




Wednesday, 31 July 2019





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Quarterly results continue to roll in. Cookie maker Mondelez and P&G beat the expectations, while British household goods maker Reckitt and tech giant Samsung suffered some losses. The Metro takeover story is going into the next round with the Czech investor aiming to find a compromise. Read on to find out what else happened in our industry!




Europe


Let's talk ▪ Czech billionaire investor Daniel Kretinsky is seeking a compromise, and wants to continue negotiations after management and some investors rejected his EUR 5.8 billion bid to buy German wholesaler Metro. Major shareholders Meridian and Beisheim have previously said they are open to constructive solutions.



Joining forces ▪ UK grocer Morrisons has partnered with market research company IRI to improve customer loyalty. Britain's fourth-largest supermarket operator has also signed an agreement with European dairy giant Arla Foods to give insight into its beef supply chain.



Disappointing results ▪ Reckitt Benckiser has cut its full-year revenue target as the British household goods maker reported lower than expected second-quarter sales. Slowing birth rates and increased competition had led to market share losses in China, its biggest market for baby food.




United States


Management appointments ▪ J.C. Penney has hired a former Shopko manager to improve the department store chain's in-store and online shopping experience. Former Starbucks executive Jonathan Gardner has joined grocer Albertsons as group vice president of strategic sourcing.



Solid performances ▪ Encouraged by second-quarter growth, confectionary maker Mondelez International has raised its full-year forecast as emerging markets fuel growth. Procter & Gamble has also reason to rejoice, beating expectations in the quarter despite a massive write-down at its Gillette unit, sending its shares to a record high.



Light bulb lawsuit ▪ Five major retailers, among them Amazon, Walmart, Ikea and Target, are being sued by the University of California. They were accused of infringing four patents related to LED light bulbs, developed by its researchers. The university is seeking unspecified damages, including royalties,




Asia


Beer battle ▪ New Delhi has banned Anheuser-Busch InBev from selling its products in the capital city for 3 years for allegedly evading local taxes. The world's largest brewer said in a statement that it denied the allegations and would appeal against the order. India’s beer market is said to be worth USD 7 billion.



Furniture touch ▪ Walmart-owned Indian online marketplace Flipkart has opened a furniture experience centre in Bengaluru, to offer a touch-and-feel format for customers. It marks the company's first foray into the offline world. More retail destinations are in the planning.



Profit slump ▪ Samsung posted a 56% drop in second-quarter operating profit, affected by continuing declines in memory chip prices amid oversupply. Operating profit was USD 5.6 billion. The South Korean tech giant expects the chip market to recover and the PC sector to expand.




Food ventures


Trendy range ▪ Lidl joins the hipster cosmos with its latest food offers, among them a vegan patty that is inspired by Beyond Burger, as well as fried insects. The German discounter's private label 'My street food' (in German, paywall) will launch in all its German outlets in August.



Meal kit teams ▪ More and more restaurants and retailers are working together in the US to get their share in the ever-growing prepared meals market. The latest partnership sees Chicago restaurateur and chef Stephanie Izard teaming up with online grocer Peapod, owned by Ahold Delhaize, to enter the lucrative sector.