News

Retail and consumer goods industry news

05 February 2014
US based drugstore chain CVS Caremark is to stop selling cigarettes and tobacco products in all of its 7,600 pharmacy and drugstore locations by October 1, 2014. Selling cigarettes not aligned to CVS’ healthcare strategy CVS is disassociating itself with the sale of these products because as President and CEO Larry Merlo, outlined “ The sale of tobacco products is inconsistent with our purpo...
04 February 2014
Sainsbury's has confirmed that Sainsbury's Bank is now a wholly owned subsidiary, a move that should accelerate its development. Creating a 'high trust' bank By buying the 50% of the joint venture it did not already own from Lloyds Banking Group, Sainsbury's will be able to expand its financial services business faster with products directly aligned with its core grocery shoppers. At a time ...
04 February 2014
4th February 2014 marks 10 years since Mark Zuckerberg founded the social network worth around $135bn from his dorm room at Harvard University. Zuckerberg's amazing journey Set up on 4th February 2004 when Zuckerberg was a 19 year old student, Facebook is celebrating its 10th birthday. Posting a  status on his own Facebook page this morning referring to the milestone, Zuckerberg said 'I...
04 February 2014
Axfood, Sweden’s third largest grocery retailer has announced its 2013 full year results, with an increase in net sales by 3.3% to SEK 37,522m ($5.7bn). Profit after tax also increased by 10.1% to SEK 993m ($151.7m). CEO: ‘We have chosen the right strategy’ Axfood CEO, Anders Stralman commented ‘Axfood posted a record profit in 2013 on good sales growth. The growth in sales and earnings onc...
04 February 2014
Kesko, Finland’s second largest grocery retailer, has released its 2013 annual results with net sales down 3.8% to €9.3bn, although net sales grew by 1.9% in the food trade to €4.4bn. Food trade growing behind the market Despite growth of 1.8% in the food trade, Kesko acknowledged that food sales are growing behind the market. Other areas of the business struggling Elsewhere in the organ...
04 February 2014
Système U has revealed a 3.5% increase in gross turnover, excluding fuel, for 2013, to €18.45bn. Convenience stores were focus for expansion Same-store sales stabilised in 2013, and food sales were up 4.2%. Système U also said the acquisition of around 450,000 new customers during the year contributed to its sales growth. The retailer ended 2014 with 1,559 stores, having opened 70 and closed ...
04 February 2014
Ocado has published its full year results, revealing strong sales growth and a modest pre-tax loss for the 52 weeks to 1 December 2013. Investment for future growth As previously reported, gross sales increased 15.2% to £843.0 million. Revenue was up 16.7% to £792.1 million and EBITDA grew 32.8% to £45.8 million. The company recorded a loss before tax of £12.5 million or £5.1 million bef...
04 February 2014
Morrisons has launched a new series of TV ads to promote its Market Street fresh food concept and also announced significant developments in its online and convenience businesses. Ant & Dec to front campaign Morrisons is again working with celebrities Ant and Dec to communicate the strengths of its approach to fresh food. The new 50 second ad, which first aired on February 3rd, features th...
03 February 2014
This weekend saw Doug McMillon take the helm at Walmart as its new President & CEO. We look at the key questions on his to do list. Having previously led the retailer’s international operations since 2009, and Sam’s Club prior to that, the internal appointment will ensure a degree of continuity and consistency. However, the transition comes at a critical point in Walmart’s timeline, particular...
03 February 2014
Malaysia's government launches a discount campaign in co-operation with supermarkets to reduce the pressure of rising prices on shoppers. Ten key retailers participate Both international retailers such as Tesco, AEON and Dairy Farm, and local retailers including Mydin, Econsave and 99 Speedmart, are participating. The combined store networks of these retailers reaches close to 1,000 outle...