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Coles & Woolies rattled after Amazon’s Whole Foods Market deal bombshell

Amazon shakes grocery world by buying major US grocer

Amazon wants to shed Whole Foods' pricey image
Amazon will acquire Whole Foods Market in a $13.7bn deal, marking the biggest transaction ever for the e-commerce giant as it pushes deeper into groceries. The deal sends a shockwave across both the online and brick-and-mortar industries, uniting two brands that weren’t seen as obvious partners. When Amazon.com Inc.completes its acquisition of Whole Foods Market Inc., CEO Jeff Bezos will try to keep the grocer’s reputation for premium fresh foods while cutting prices to shed its “Whole Paycheck” image. Amazon expects to reduce headcount and change inventory to lower prices and make Whole Foods competitive with Wal-Mart Stores Inc. and other big-box retailers, according to a person with knowledge of the company’s grocery plans. That included potentially using technology to eliminate cashiers. An Amazon spokesman denied any job cuts were planned. (esmmagazine.com

Coles & Woolies rattled after Amazon’s Whole Foods Market deal bombshell
Executives at Coles and Woolworths were reeling at the weekend after Amazon bought an American grocery chain, in a move which has Australian retailers wondering whether fresh food will remain their stronghold when the online giant starts trading Down Under. Shares in the Australian supermarket giants came under pressure today after Amazon dropped the bombshell overnight on Friday that it was buying high-end grocer Whole Foods Market for $US13.7bn ($18bn). Wesfarmers shares were down 25% at 10.45am to $40.45, Woolworths had plunged 84% to $25.41 while Metcash was trading at $2.11, down 4%. Please, click here to read more at thewest.com.au

Wonky veg home delivery scheme expands in London
A social enterprise which started in south-west London delivering misshapen fruit and veg to homes in the region has now expanded to south-east London. The Oddbox wonky veg scheme sells misshapen and over or undersized fruits and vegetables which in most cases would otherwise not be sold or would be sold in wholesale markets for very low prices or for animal feed or processing. (edelivery.net

UK: The Co-operative to support sustainable farms
UK retailer the Co-operative has announced that it has bolstered its relationship with global sustainability organisation LEAF (Linking Environment And Farming) by becoming a corporate member. This will see the retailer work more closely with LEAF to deliver sustainable food and farming goals, cooperating with farmers, the food industry, scientists and consumers to promote practices that enhance the environment. (esmmagazine.com)

Spanish Eroski joins suppliers to promote local products in Navarra

Spanish retailer Eroski has announced that it is starting a campaign, alongside 80 suppliers in the Navarra region, to support the local agri-food community. The retailer said that it purchased €1bn worth of products from the region's agri-food sector in the last five years. (esmmagazine.com)

Sainsbury’s said to be close to bidding for Nisa Convenience group

UK retailer Sainsbury is said to be close to submitting a formal bid  to acquire Nisa, a wholesaler and convenience store group that counts more than 2,500 independently-owned stores around the UK as members. It is expected that the deal will cost Sainsbury’s around £130m. However, there are signs that the deal could face objections from Nisa members, which include the McColl’s convenience group. (esmmagazine.com)

Tesco pulls plug on Thailand business

Tesco has shut down a “bulk selling” operation in Thailand after concluding it could not make a profit. The decision to walk away from nearly 6% of Asian revenue contributed to a 3% decline in like-for-like sales at Tesco’s international business, ft.com reports. (ft.com)

Tesco's fresh food sales climb in Ireland
Tesco's like-for-like sales in Ireland rose by just 0.2% in the first quarter of the group's financial year, but its volume growth here jumped 3.8% as it continued efforts to keep a lid on prices in its core food lines. The retailer, which held its annual general meeting yesterday, said its fresh food sales in Ireland climbed 5.3% in the first quarter. (independent.ie)

Report: Aldi and Lidl to earn combined $50B to $65B over next 5 years
Aldi and Lidl are expected to earn between $50bn and $65bn over the next five years, according to Brick Meets Click. In a webinar report, the consulting firm outlined several unique challenges the hard discounters pose to U.S. supermarkets. Retailers, the report stated, need to “blunt” Aldi and Lidl’s price advantages, but they need to be careful not to enter into an expensive price war with the discounters. Although both retailers advertise a price advantage of as much as 50% over most grocers, BMC estimates their actual price advantage is between 20% and 30%. (fooddive.com)

Amazon inks 60-day exclusivity agreement with BigBasket for potential acquisition
The country’s top online grocer BigBasket has entered into a 60-day exclusivity agreement with retail giant Amazon after a prolonged period of discussions between the two over a potential acquisition by the latter, a report in a national daily stated, citing two people aware of the development. The agreement mandates that Amazon will be sole contender to acquire BigBasket for a two month period, The Times of India report stated. However, the agreement does not stop the e-grocer from actively looking out for financial investments, the report added. (vccircle.com)

US: Wal-Mart to buy Bonobos
Wal-Mart said on Friday it would buy online men's fashion retailer Bonobos Inc for $310m, in its fourth e-commerce deal in under a year, as it seeks to bridge the gap with e-commerce leader Amazon.com. However, Wal-Mart's shares fell about 7% to $73.65 in morning trading after Amazon unveiled a $13.7bn deal to buy upmarket grocer Whole Foods Market. (Reuters)


Publication date: 6/19/2017

 


 

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