Study: Aldi's veg as good as Woolworths', customers say

Tesco faces new legal action over accounting scandal -
Britain's biggest retailer Tesco is facing a new claim for damages from an investor after its 2014 profit overstatement, the company said on Tuesday. A spokesman for the supermarket group said it was aware of a claim, filed by Manning & Napier, the U.S. fund manager, and would be filing a defence shortly. Manning & Napier declined to comment. However, the Financial Times reported that the fund manager said it had suffered losses of $212m because of Tesco's accounting irregularities. (Reuters)

Aldi's veg as good as Woolworths' say customers (Study)
Aldi is continuing to make its mark on Australian shoppers, with consumers now believing it is competitive with the major retailers across the key aspects of fresh produce purchases of value, quality and choice. Australians now perceive Aldi as equal to Woolworths and only slightly behind Coles and speciality retailers when it comes to value for their fresh vegetable purchases, according to the latest report from the Project Harvest tracking study, commissioned by Horticulture Innovation Australia on behalf of the vegetable industry. (news-mail.com.au)

Vendors skeptical as Walmart changes grocery sourcing roles
A plan to change how Wal-Mart Stores manages its relationship with suppliers is being met with trepidation by some vendors who say they are already weary of cost concessions to the big retailer. Walmart, late last week, told its grocery suppliers of intentions to change its sourcing structure, whereby Walmart merchants and sourcing managers would become more deeply involved in supplier businesses, including their cost negotiations and business relationships, and by spending more time at their farms and factories. (supermarketnews.com)

Canada: Deflation impacts Metro's sales growth
Metro’s first quarter sales increased by 0.3% to $2.9bn, with same-store sales up 0.7%. Sales growth was negatively impacted by several factors, including food basket deflation of 1.0%, its decision not to renew a hospital supply agreement for pharmacy products and the closure of a number of Metro stores for conversion to its discount formats which are yet to re-open. During the quarter, volume and basket size increased but transactions were down slightly. (igd.com)

Alibaba exceeds expectations and increases turnover forecast
Alibaba increased its full-year turnover forecast after it managed more than 50% growth in its previous quarter, exceeding expectations. It's third quarter turnover grew 54% to 53.25bn yuan (€7.2bn), followed by a 38% net profit increase to 17.12bn yuan (€2.3bn). Its online marketplaces, Taobao and Tmall, are its most important sources of income, with a joint 46.58bn yuan (€6.3bn) turnover, which is a 45% increase. The third quarter results have prompted the company to instantly increase its profit forecast, targeting a 53% growth instead the previous 48%. (retaildetail.eu)

Panda affected by 'rapid deceleration in grocery retail' in Saudi Arabia
Panda generated revenues of SAR13.5 bn (US$3.6 bn) in 2016. The retailer noted that 18 new stores, which had increased its average selling space by 1%, had helped underpin its top line performance. The new stores offset a decline in like-for-like sales following a drop in average basket size at its stores. The company said that, following a period of aggressive expansion, it had suffered during 2016 after a 'rapid deceleration in grocery retail' in Saudi Arabia, which meant that its performance fell below expectations. (igd.com)

Chilean retailer SMU floats on stock exchange
Chilean retail group SMU finalized its initial public offering in Santiago on Tuesday, raising around $200m as the owner of Unimarc supermarkets seeks to strengthen its financial position. (Reuters)

Sweden: Axfood Matse takeover approved
Swedish food retailer and wholesaler Axfood has announced that the Swedish Competition Authority has approved the company's planned acquisition of Matse Holding. The approval was announced on 23 January. Axfood had earlier reported in December 2016 that it had made a cash offer to the shareholders of Matse, to acquire all shares in the company. The offer depended on the approval of the Swedish Competition Authority, which has now has been granted. (esmmagazine.com)

Walmart to start selling cars

Walmart is now to sell both groceries and cars.
Supermarket chain Walmart is teaming up with a start-up company called CarSaver to sell vehicles at some stores in a pilot program. Carsaver will set up kiosks where employees will help customers select a vehicle and even apply for financing and insurance. (fox5ny.com)

Spar increases export of Croatian products by 7%
The Croatian unit of grocery retailer Spar exported over €60m in local products in 2016, an increase of 7% compared to the previous year. The highest growth of Croatian products were exports to Austria (+18%). (esmmagazine.com)

US: Target to launch mobile payment service
Retailer Target said on Tuesday it plans to launch its own mobile payment service this year in stores, which would allow customers to pay for goods using an app on their mobile phones. (metro.us)

RedMart, Lazada and the future of online grocery market in Asia
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