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UK retail sales plunge

Profit of Brazilian GPA rises

Ireland: grocery chain SuperValu pressured to sell stores
Blackwells Capital said it's been attracted to SuperValu because of the chain's real estate holdings. The activist investor is asking Supervalu to sell roughly 30 percent of its stores. Blackwells also wants a "refresh" of leadership with grocery expertise, a dividend paid to shareholders, and a share buyback plan. (cnbc.com

Brazil's GPA books profit
Brazilian retailer GPA SA swung to profit on Thursday as its Assai “cash-and-carry” division continued a successful expansion, offsetting losses in the group’s traditional formats. GPA, owned by France’s Casino Guichard Perrachon SA, reported a net profit of 72 million reals ($22 million) in the quarter, up from a 308 million loss a year ago, according to a securities filing. That beat an average estimate in a Thomson Reuters survey for a 32 million-real profit. (Reuters)

UK retail sales plunge
UK retail sales are falling at the fastest pace since the depths of the recession in 2009 and worries about the housing market could exacerbate the weakness in consumer spending seen this year. The Confederation of British Industry said its measure of sales plunged to minus 36 in October - the lowest since March 2009 - from a positive 42 in September. Sales for the time of the year were slightly below the usual seasonal rates, it said. (esmmagazine.com)

CA: Metro continues to build its online offering in Quebec
Metro says 60% of Quebec’s approximately 8.2 million residents will be able to shop online at Metro.ca by the end of the year, as it continues to build both its click-and-collect and delivery capabilities. Metro offers next-day delivery for all orders placed before midnight and charges a  delivery fee that ranges from $4 to $8 depending on the day and time. The grocer charges a $4 “preparation fee” – with a minimum order of $50 – for click-and-collect orders. (canadiangrocer.com)

Amazon tops sales estimates
The company reported third-quarter sales and profit that topped analysts’ estimates. Shares rose as much as 8.5 percent in extended trading. Whole Foods generated $21 million of operating income in the period, which included about a month of sales. Revenue from “physical stores,” primarily Whole Foods locations, was $1.28 billion. (Bloomberg)

Publication date: 10/31/2017

 


 

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