India’s DMart slumps nearly 5% on profit miss, margin drop
Shares of Avenue Supermarts Ltd, which operates the DMart retail chain, fell 4.7% on Monday after the company’s fourth-quarter profit missed estimates and core profit margin contracted as consumers curbed discretionary spending.
foodpanda Singapore launches ‘CHILL: We got you fresh’ campaign with Clear Channel Singapore
foodpanda Singapore has unveiled a 2D creative in collaboration with Clear Channel Singapore, specifically to feature the latest CHILL: We got you fresh! campaign. The campaign fronts foodpanda’s online grocery store pandamart, with the objective of highlighting their wide range of fresh produce. The campaign also aims to feature their 24-hour availability and fast deliveries of within 30 minutes – the only store in Singapore to-date to be able to offer round-the-clock, hyper fast deliveries of groceries. The campaign features foodpanda’s iconic mascot, Pau-Pau, standing by an illuminated fridge that highlights fresh vegetables and fruits, to simulate what a well-stocked fridge will look like.
Supermarket chain Jan Linders sells two stores in the Netherlands
Supermarket chain Jan Linders has sold its stores in Haelen and Roggel in the Netherlands to Heerschap Groep. The Netherlands-based company expects the transfer of the two stores to be completed in the second half of this year. Until then, the shops will continue to operate under the banner of Jan Linders.
Top 5 supermarket retail chains in Latvia
Here’s an overview of the top five supermarket retail chains in Latvia, according to their most recently-available full-year turnover. All data is supplied by Retail-Index (www.retail-index.com) 1. Rimi turnover: €1bln (2021); 2. Maxima turnover: €915mln (2021); 3. Mego turnover: €250mln (2019); 4. LaTS turnover: €250mln (2020); 5. Madara 89 turnover: €172mln (2021).
Joint letter for stronger role in shaping EU’s SFS legislation
Euro Coop and other 30 leading EU food chain organisations sent a joint letter to the European Commission, urging greater involvement in the development of the legislative Framework for Sustainable Food Systems (FSFS).
Nigeria: Cold-chain startup Figorr raises $1.5mln, backs the roll out of data-driven perishables insurance
Oghenetega Iortim built Nigerian-based cold chain startup Figorr after imagining better means of storage and transportation of temperature-sensitive products, following the post-harvest losses from his fresh agro-produce venture. Iortim says Figorr is currently on an expansion bid, following an increase in demand for its solutions outside Nigeria. The expansion is driven by a successful $1.5mln seed funding it has raised in a round led by Atlantica Ventures, with participation from VestedWorld, Jaza Rift Ventures, and Katapult VC.
Holland: Amsterdam bans fast-delivery grocery hubs from residential areas
Amsterdam is banning fast-delivery grocery companies from setting up so-called dark stores in residential areas, the local city council decided, citing noise and nuisance complaints from the public.
With UK food price inflation at 46-year high, lawmakers launch probe
British lawmakers launched an investigation into the fairness of the country’s food supply chain, seeking to understand why households are facing the highest levels of food price inflation since the 1970s. The cross-party Environment, Food and Rural Affairs (EFRA) Committee of the House of Commons, the lower chamber of parliament, said it would examine how profits and risks are shared from “farm to fork”, and the level of regulation.
Walmart focuses on growing India’s unique ecosystem
Walmart Inc. CEO Doug McMillon reinforced Walmart’s continued commitment to building an ecosystem of suppliers and partners in India, including small and medium enterprises, to meet the company’s goal of sourcing $10bln of India-made goods each year by 2027.
NielsenIQ makes second attempt to gain EU nod for GfK merger
Advent-owned NielsenIQ has made another attempt to secure EU antitrust approval for its merger with German peer GfK, with an EU decision due by June 20, according to a European Commission filing.
US Foods reports first quarter fiscal year 2023 earnings
US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the first quarter fiscal year 2023. First quarter fiscal 2023 highlights: Net income available to common shareholders improved to $75mln. Adjusted EBITDA increased 39.8% to $337mln. Diluted EPS was $0.32; adjusted diluted EPS was $0.50. Net sales increased 9.5% to $8.5bln. Total case volume increased 5.7%; independent restaurant case volume increased 8.1%.
Canada: Metro opens new Food Basics in Port Elgin
Metro opened a new Food Basics in Port Elgin, Ontario, about 200 kilometres northwest of Toronto. The 32,000-sq.-ft. store, located at 1110 Goderich St., is the 143rd Food Basics in Ontario. The discount store will offer Metro’s budget friendly private label brands Irresistibles and Selection as well as locally-sourced products, fresh meat and produce, fresh barbecue chickens and self-checkout lanes.
US: Purdue April Consumer Food Insights report explores role of dollar stores in food landscape
A market for an expanded grocery selection at dollar stores potentially exists, especially with consumers who live less than 10 minutes away, according to data reported in the April Consumer Food Insights report. The survey-based report out of Purdue University’s Center for Food Demand Analysis and Sustainability assesses food spending, consumer satisfaction and values, support of agricultural and food policies, and trust in information sources. Purdue experts conducted and evaluated the survey, which included 1,200 consumers across the U.S. Vegetables and fruits are the most popular organic items, but less than a third of consumers often or always choose organic.
Amazon optimizes delivery network for speedier delivery, lower costs
Amazon.com Inc said it has optimized its delivery network coming out of the COVID-19 pandemic, allowing it to increase delivery speeds and lower costs, while also reducing the ecommerce giant’s carbon emissions.
CEO of grocery chain sounds alarm over the ‘dumb things’ US government is doing
The CEO of New York City grocery store chain Gristedes is sounding the alarm over all the “dumb things” the government is doing as inflation persists. When FOX Business host Maria Bartiromo asked John Catsimatidis when Americans will see a break at the supermarket he said: “When the food executives feel confident that Washington is not doing dumb things”. “When they feel that their earnings… are going to survive”, he continued.
Uber-owned online grocer Cornershop eliminates 11% of staff
Uber Technologies Inc. subsidiary Cornershop, an online grocer, is eliminating 11% of its workforce, according to an internal memo from Chief Executive Officer Oskar Hjertonsson. The reduction in headcount affects about 250 employees at Cornershop, which operates primarily in Latin America and Canada, Hjertonsson said in his memo. The majority of job cuts are concentrated in Chile, a spokesperson for Uber said. The news was first reported by Diario Financiero.