Wholesaling news

 

05 November 2021
Riding the wave of growing popularity of wholesale stores in the country, Carrefour has launched its first membership-only store in Shanghai in October. Plans to open 100 wholesale stores in three years Carrefour’s first membership store covers an area of 10,000 sq m and carries around 3,000+ SKUs. It is converted from one of its hypermarket stores. The range includes trendy and novel pr...
08 October 2021
Metcash has announced that Doug Jones will succeed Jeff Adams as the CEO of Metcash in Australia. Significant retail and wholesale experience Doug Jones is the existing CEO and senior vice president of Massmart Wholesale in South Africa and will take over as Metcash CEO on 1 February 2022. It will be the second time in less than a year that we have seen a senior executive move from a South ...
08 October 2021
In view of the wholesale store boom in China . We take a look at how Costco has performed in the country since its high-profile market entry in 2019. First year sales reached CNY2 bn (US$310m) Costco opened its first China store in Shanghai in 2019. That store achieved sales revenue of CNY2 bn (US$310m) in the first year. Because of COVID-19 restrictions (e.g. social distancing and contr...
06 October 2021
Details on the performance of Tesco’s wholesale subsidiary, Booker, in its H1 results (six months to 28 August) show how the continuing influence of the pandemic episode is still affecting outcomes for food wholesaling across the two key customer channels, namely independent retailing and foodservice. As expected – foodservice the key contributor to wholesale growth In contrast to 2020 it’s s...
29 September 2021
With a total area of 70,000 sq m (comparable to 10 football fields), the world’s largest and China’s first Sam’s Club flagship store has opened in Waigaoqiao Bonded Zone, Pudong New Area, Shanghai on 26 September. A shopping and entertainment destination The outlet includes a Sam's store, as well as catering, entertainment, and education. " It is not just another shopping outlet, but combin...
24 September 2021
We review Costco’s fourth quarter and full year results and the challenges it is seeing with higher costs, shipping capacity and labour shortages. Fourth quarter and full year key numbers Q4 total revenue up 14.8% to $62.7bn, with full year revenue up 17.5% to $196.0bn Comparable sales for the quarter (ex-fuel and currency impacts) up 9.4%, including up 10.3% in the US, 6.7% in Canada...
22 September 2021
The country is seeing a wholesale store boom. Yonghui opened its first wholesale store in May 2021, it now has 45 such stores. Local retailers are rushing into the wholesale sector, encouraged by Yonghui’s good results Yonghui opened its first wholesale store in May 2021 by upgrading one of its Bravo YH supermarkets in Fuzhou. Within four months, it has upgraded 45 selected stores into wh...
20 September 2021
In a significant expansion of its interests in wholesale, Morrisons has partnered with online platform StarStock to supply hospitality businesses. 1,500 lines to be offered through online platform The deal with will allow pubs, restaurants and hotel owners to buy stock directly from the Bradford-based grocer. Initially over 1,500 lines will be offered through StarStock’s platform, includi...
16 September 2021
The company sees slowing growth of its hypermarket sales amid ecommerce shift, whilst demand for its premium goods at Sam’s Club is growing. Growth of hypermarket sales slows in China According to Bloomberg, sales in China’s supermarket and hypermarket sector fell more than 7% in the second quarter of 2021 compared to a year ago, as more Chinese shoppers shift online. Walmart has also flagg...
16 September 2021
Leading national co-operative retailer, Co-op has reported its interim results for the first half of 2021 (26 weeks to 3 July) with sales in its convenience-led Food division (excluding fuel) down 2.8%. This expected decline comes amid a more normalized trading pattern in 2021, compared to the extraordinary surge in consumer demand seen in the early stages of the COVID-19 pandemic from March in 2...