Russian retailers will increase fruit and veg prices
Walmart's China imports cost 400,000 US jobs
US: Costco Wholesale Q1 profit declines
Ireland: SuperValu Fresh top customer magazine
Russian retailers Auchan and Magnit will increase the price of fruit and vegetables due to the Turkish sanctions reports nnov.org. The reason for this is that suppliers to major retailers are demanding an increase in the purchasing price of goods by 50% after the sanctions are introduced. Retailers are looking for ways to replace products on the shelves and are counting on government support in obtaining products that they have already been paid for. Retailers are also hopeful that the government will quickly allow the distribution of goods from other countries. To prevent an unreasonable rise in prices the Ministry of Trade must tighten controls over retail chains.
Walmart's China imports cost 400,000 US jobs
Walmart Stores Inc's import of goods from China led to the loss of over 400,000 jobs in the United States between 2001 and 2013, according to a report from a US-based non-profit think tank. The world's largest retailer likely accounted for 15.3% of the growth in the US goods trade deficit with China in the same period, the Economic Policy Institute said in a report on Wednesday. (retail.economictimes.indiatimes.com)
US: Costco Wholesale Q1 profit declines
Costco Wholesale reported that its net income for the first-quarter declined to $480m or $1.09 per share, from $496m last year. Net sales for the first quarter increased 1%, to $26.63bn from $26.28bn during the first quarter last year. Wall Street expected revenues of $27.65bn. Total comparable sales for the quarter were down 1%, with a 2% rise in U.S., an 9% drop in Canada, and a 5% decline in Other International comparable sales. (rttnews.com)
Musgraves and its SuperValu Fresh was named the top customer magazine at the Irish Magazine Awards. (marketing.ie)
Indonesia's retail sales in October grew 8.8% from a year earlier, a Bank Indonesia survey showed on Tuesday. September annual retail sales growth was revised to 7.1% from the previously reported 7.2%. The 700 retailers in 10 major cities surveyed said sales of food, beverages and tobacco bolstered October's retail sales growth. (Reuters)
Actis deepens food retail growth in SA with US$54m investment
The growth of food retail business in South Africa has received a major boost as Actis, a leading emerging market investor with strong footprint in commercial real estate development in Sub-Saharan Africa, has made a substantial investment of R760m (US$54m) in Food Lover’s Market. (businessdayonline.com)
Portugal: Pingo Doce rolls out new store concept
Over the past year, Portuguese supermarket chain Pingo Doce has renovated more than two dozen stores out of a total of 390 in its network. The company, owned by retailer Jeronimo Martins, recently reopened its store in Telheiras (Lisbon) with a new concept. According to the retailer, the 6,000 m2 store (one of Pingo Doce’s biggest) offers "new solutions for a distinctive shopping experience, making it more convenient and practical”. The Fruit and Vegetables area offers a new on-the-spot juice preparation service from the store's products.
US: Whole Foods supplier stock drops after cutting its annual forecast
United Natural Foods Inc., a distributor of organic food to Whole Foods Market and other grocery chains, suffered its worst stock decline in almost five months after cutting its annual profit and sales forecast. The company now expects earnings of $2.79 to $2.89 a share this year, excluding some items, according to a statement Monday. United Natural Foods had previously projected as much as $2.98 for the period, which ends next July. The company’s fiscal first-quarter profit and gross margin also missed analysts’ estimates. Revenue will be $8.43 billion to $8.59 billion this year, United Natural Foods said in the statement. It had forecast as much as $8.67 billion. (Bloomberg)
US: Wegmans unveils 100th anniversary logo
Gates-based grocery store chain Wegmans Food Markets has released a gold anniversary logo to celebrate its 100th year in business, which occurs in 2016. (democratandchronicle.com)
UK: Nisa secures £75m deal with Sandpiper CI
Nisa Retail has announced a new deal with Channel Islands-based retail company Sandpiper CI, worth £75m over five years. The deal provides as extension to an existing longstanding partnership of 30 years, which sees Nisa secure the business as supplier of its grocery lines to Sandpiper CI. Sandpiper CI operates across Jersey and Guernsey with a portfolio of outlets which includes 8 Iceland stores, 13 food halls, 10 convenience / forecourt stores, and 15 off licenses. James Roberts, Nisa’s head of independent and specialist, added: “This agreement represents another significant business deal for Nisa. (igd.com)
Grocery Outlet gets approval to buy 6 Fresh & Easy stores
Discount supermarket chain Grocery Outlet has been given bankruptcy court approval to buy six former Fresh & Easy stores in California. The stores are in Orange, Rosemead, Long Beach, Downey, Whittier and Sunnyvale, according to the Orange County Register. Sales of the stores are expected to be finalized by the end of the year. (bizjournals.com)
Tesco-owned Dobbies books £48m in annual losses
Dobbies, the garden centre chain of Tesco, is the latest to add to the UK retailer's woes. The Scottish-based chain has posted an annual loss of £48m (€66m, $72m) after writing down the value of its stores. (ibtimes.co.uk)
Spar International debuts in Azerbaijan
Spar International has announced the opening of its first outlet in Azerbaijan with local partner Araz, which already operates supermarkets across the country, and serves more than 37,000 customers daily. Speaking at the store’s official opening, its General Director commented, “Food retailing continues to be one of the most dynamic sectors of Azerbaijan’s economy and Araz has strong plans for growth, with the aim of opening more than eight new Spar stores with a total sales area of 12 000 m2 by the end of 2017.”
A&P wins approval to sell Food Emporium brand to Key Food
Great Atlantic & Pacific Tea Co. won bankruptcy-court approval to sell its Food Emporium brand and related intellectual property to Key Food Stores Co-Operative Inc. (wsj.com)