News

Retail and consumer goods industry news

20 May 2022
US-based Albertsons is partnering with Veeve Smart Carts to launch smart carts in around a dozen stores across the country. The retailer is aiming to develop a fast, contactless experience for its shoppers. Skipping traditional checkouts A growing number of retailers are piloting smart carts to offer a checkout-free shopping experience. Veeve Smart Carts enable shoppers to place their items...
20 May 2022
Lidl and Kaufland’s parent company, Schwarz group has announced its FY21 results. Key numbers for the year ending February 2022 Group sales + 6.6% to €133.6bn Kaufland sales +7.4% to €27.3bn Lidl sales +4.7% to €100.8bn Total online sales for both banners reached €1.7bn The group invested €8bn last year in opening new stores, modernizing existing ones and financia...
20 May 2022
National convenience retailer Co-op has set out its ambition to grow online sales by 50%, reaching £300m by the end of the year. Using a range of solutions for fulfilment, both in-house and third party, the retailer will continue to roll-out its online service nationally making it accessible from 2,000 stores in total. Since launching its on demand online services in 2019 Co-op has seen 36 months...
20 May 2022
In January 2021, Cencosud announced significant new investment plans, with a projected spend of US$1.8 bn between 2021–2023. The bulk of this was to be invested in refreshing its existing estate and expanding its store network. Then in Q4 2021, Cencosud registered a request for an IPO with the Securities and Exchange Commission (CVM), for the primary distribution of shares. Funds raised would ...
20 May 2022
Woolworths has entered into a Scheme Implementation Agreement to acquire approximately an 80% stake in marketplace MyDeal.com.au. Woolworths’ offer values MyDeal.com.au at AU$243m. Woolworths said if completed, the remaining 20% stake in the business would continue to be held by MyDeal’s founder and chief executive, Sean Senvirtne, and other key management shareholders. Acquisition would enhan...
19 May 2022
In separate developments, Morrisons updated on its acquisition of McColl’s and, as reported by trade publication The Grocer, it is preparing to launch a new joint-branded retail concept; ‘Together with Morrisons’. Update on McColl’s acquisition In a statement relating to a bond offering, it was revealed that Morrisons had paid the equivalent of £182.1m to creditors to acquire McColl’s 1,160...
19 May 2022
Co-op wholesale subsidiary, Nisa has announced that Steve Leach, a key figure in its sales team since 2014, and latterly sales director, is to leave the business. As yet, no like-for-like replacement has been announced. A major pillar of continuity in the transition to Co-op ownership As an established member of the Nisa team in 2018, Steve’s tenure has included the integration of the busin...
19 May 2022
Tesco and WWF are to launch an accelerator programme that aims to fast-track sustainability innovation in the supply chain and ultimately cut the environmental impact of food and support UK food security. Innovation Connections aim to help scale improvements Through the programme Tesco and WWF will pair applicant companies with ‘ long-term Tesco suppliers to pitch scale-up projects that app...
19 May 2022
As Woolworths Australia partners with InvertiGro for an in-store vertical farm and with Iberdrola for renewable energy, we round up three developments from the retailer. Woolworths Metro and InvertiGro partner for in-store vertical farm Through a partnership with Sydney-based AgTech InvertiGro, Woolworths Metro will add an in-store vertical farm at Metro Park Sydney Village. The solution wi...
19 May 2022
Mirroring Walmart’s first quarter results, Target delivered a solid sales performance in Q1, but profitability came in below expectations. Having been one of the stars of retail through the pandemic, we look at what this could mean for the wider industry. First quarter key numbers Total revenue increased 4.0% to $25.2bn Operating income decreased 43.3% to $1.3bn Comparable sales up...