Another UK asset has fallen into foreign hands - British brewer and pub owner Greene King has been picked up by a Hong Kong real estate billionaire. Across the Atlantic, Canadian platform Shopify pleases investors with its continuous growth rate, while DIY retailer Home Depot is concerned about tariffs and falling prices.




Wednesday, 21 August 2019





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Another UK asset has fallen into foreign hands - British brewer and pub owner Greene King has been picked up by a Hong Kong real estate billionaire. Across the Atlantic, Canadian platform Shopify pleases investors with its continuous growth rate, while DIY retailer Home Depot is concerned about tariffs and falling prices.




Europe & Latin America


Ambitious targets ▪ Casino has reportedly raised its offer to buy a 50% stake in Brazilian retailer GPA, as part of a plan to simplify its Latin American operations. The French supermarket group has identified assets worth EUR 2 billion to be put up for sale to improve its financial performance.



Pub chain takeover ▪ British brewer and pub operator Greene King has agreed to be acquired by CK Asset Holdings, owned by Hong Kong billionaire Li Ka-Shing. The deal is said to be worth GBP 4.6 billion. Insiders warn that pub closures are likely to follow.



Reporting results ▪ Dino Polska enjoyed a 30.5 percent revenue growth in the first half of its financial year. During the period, the Polish grocer opened 81 stores. Russia's Magnit posted a revenue increase to EUR 8.9 billion for H1, boosted by a redeveloped convenience segment and its drugstore format.




US & Canada


Amazon challenge ▪ Ottawa-based online platform Shopify, founded by German Tobi Lutke, has become bigger than Ebay. The Canadian company's stock, first listed in New York in 2015, is growing constantly and has skyrocketed since February. Shopify is regarded as a contender to take on Amazon.



Cautious forecast ▪ Despite reporting better-than-expected second-quarter profits, DIY retailer Home Depot has lowered its forecast amid worries of falling lumber prices and the potential effects of tariffs. The company’s suppliers are moving some manufacturing to other countries.



Management reshuffles ▪ Walmart is about to restructure its marketing team as its chief marketer, Barbara Messing, will leave the company. Supermarket major Albertsons has also begun to search for an executive manager to replace merchandising boss Shane Sampson, who has decided to leave the company.




Australasia & Africa


Pushing ahead ▪ Kaufland continues to make its presence felt in Australia. The German hypermarket giant has acquired its third site in Queensland, near Brisbane. The property listing is reportedly next to a centre which houses major market players such as Coles, Woolworths and Aldi.



Solar power ▪ Supermarket major Coles has entered an agreement with renewable power company Metka which will see the construction of three new solar power plants. The move is part of the company’s pledge to become the most sustainable grocer in Australia.



Crunching numbers ▪ Full-year profit at New Zealand dairy company A2 Milk has grown 47 per cent to NZD 287.7 million and revenue to NZD 1.3 billion thanks to its formula products in Australia and China. Meanwhile, retailer Shoprite was able to improve its sales in South Africa, but it wasn't enough to prevent a decline in earnings.




Top spots


British rankings ▪ German discounter Lidl has reached a 5.9% market share in Britain, marking its largest to date, according to new data for the sector. The title of the fastest-growing UK grocer, however, goes to online retailer Ocado, who has reached a double-digit rise in sales.



Emotional winner ▪ Barnes & Noble may be struggling financially, but the “unique emotional bond” the nation's largest bookseller has with the public helped it to become No. 1 in reputation. This is according to the Reputation Institute’s RepTrak 2019. The annual study considered 81 nominated retailers.