New Woolworths boss keeps lowering prices

Slovenia: Mercator ends first nine months with €9.9mln profit
Slovenian retailer Mercator Group has ended the first nine months of its financial year with a profit of €9.9mln, compared to a loss of €1.7mln in the previous year. Revenues in the same period amounted to €1.73bln (-2.7%). The group said that revenue from the sale of goods in the core activity of retail in Slovenia and Montenegro was higher relative to the comparable period of the preceding year. The drop of revenue in Serbia was primarily a result of the closure of some stores following a regulatory decision. Net financial debt amounted to €794.193, which is 1.4% lower than as at the end of 2016, and 5.9% less than at 30 September 2016. Payment terms to suppliers remain stable in 2017, and Mercator has succeeded in decreasing its net debt to creditor banks. (esmmagazine.com)

UK: Spar unveils first Market store
Convenience retailer Conrad Davies has launched the first flagship Spar Market store in Gwynedd, Wales. Spar developed the new format for stores with shop floor space of more than 3,000sq ft and targets customers with higher basket spend than typical convenience shoppers. The format, inspired by a Blakemore Trade Partners-led study tour to Holland and Belgium, features freshly baked bread made from local dough, freshly prepared pizza, a cereal dispenser, lobster tank, orange juicing machine, meat-ageing cabinet, self-serve hot and cold food-to-go, and ready meals and smoothies prepared in-house. The store also features Davies’ own-brand products which showcase the best produce from around the Llyn Peninsula and across Wales. (talkingretail.com)

AUS: New Woolworths boss Claire Peters vows to keep lowering prices
The new managing director of Woolworths has vowed big changes are coming to Australia’s biggest supermarket. Claire Peters said she would focus on lowering prices while improving service and private label. “If we put the customer first, they’ll tend to put us first. Price will play a huge part.” Ms Peters said she had lowered the price on more than 300 products since starting in June. Last month, Woolworths reported a 4.9% lift in first-quarter food sales at its Australian supermarkets to $9.63bln. Woolworths said the growth was achieved despite increased deflation in fruit and vegetables. (news.com.au)

Walmart shares jump on strong U.S. sales growth
Walmart Stores Inc reported better-than-expected U.S. comparable sales, as customers stocked up on food and other supplies ahead of hurricanes and online purchases soared, sending its shares up more than 8.5%. The third quarter marked Walmart’s strongest U.S. sales growth since 2009 despite sluggish demand and competition from Amazon.com Inc that has hurt brick-and-mortar rivals. The retailer has notched more than three straight years of overall comparable sales growth. (Reuters)

US: Costco coming to Edmonton International Airport
Costco plans to open a new warehouse store at the Edmonton International Airport (EIA) late next year. Construction has already started on what will be the company’s seventh outlet in the Edmonton area. It will include a gas station and liquor store. “The Edmonton metro region was one of the first Canadian markets that welcomed Costco Wholesale, and it continues to be a strong market for us,” said Russ Miller, Costco Wholesale’s senior vice-president and general manager for Western Canada. “This opening at EIA will make Costco Wholesale more accessible for a whole new segment of the Edmonton market.” (edmontonjournal.com)

US: Albertsons Companies invests in Texas-based El Rancho Supermercado
Albertsons Companies, one of the nation's largest grocery retailers, announced an investment in El Rancho Supermercado, a Texas-based retailer which focuses on stores for Latino customers. El Rancho will continue to operate as an independent company headquartered in Garland. "El Rancho has built a great business with its 16 Texas stores, and we're confident that we'll be able to leverage our combined expertise to better serve customers across the existing Albertsons Companies' and El Rancho store bases," said Bob Miller, Chairman & CEO of Albertsons Companies. "With El Rancho's own distribution and manufacturing facilities serving their Texas stores, we can share best practices that will reduce costs and benefit our customers." (prnewswire.com)

Amazon cuts prices again at Whole Foods ahead of the holidays
Amazon.com Inc said it will offer more discounts and steeper price cuts at Whole Foods Market on many organic foods and groceries popular during the holidays. The plan was announced just ahead of Thanksgiving and is on the heels of price cuts in August when Amazon completed its $13.7bln acquisition of Whole Foods. “Price cuts are permanent,” Brooke Buchanan, a spokeswoman for Whole Foods, said. (Reuters)