Kroger agrees to buy Albertsons

CalFresh recipients: How to get $100 extra free groceries every month
This month, CalFresh increased its benefits by 12%, potentially adding more than $900 a month to a family’s grocery budget. Thanks to a new program at Northgate Gonzalez Markets in Southern California, eligible families and individuals can now earn up to an additional $100 per month to spend at any participating Northgate Market fruit and vegetable store.

USA: Kroger agrees to buy rival food company Albertsons for $24.6 billion
Kroger is the second largest grocery retailer in the United States by market share, behind Walmart, and Albertsons is fourth after Costco. The companies said Kroger agreed to buy Albertsons for $34.10 per share, valued at $24.6 billion. Together, Kroger and Albertsons employ more than 700,000 people in approximately 5,000 stores.

US: Beyond Meat will cut 19% of its workforce as sales and inventory struggle
Beyond Meat plans to cut 19% of its workforce, or about 200 employees, the company said in a regulatory filing. The company also said several top executives would be leaving the company.

Italy: Sogegross launches new growth strategy
Italian retailer and wholesaler Gruppo Sogegross has launched a new growth strategy which the company says will focus on brand synergies and expanding its network. As part of its plans, the retailer plans to increase collaboration and planning across its Basko supermarket banner and its Doro franchise network.

Also Read :  Turkey Ready To Offer Bayraktar TB-2 Drones To Japan; Malaysia, Indonesia Also Keen To Buy 'Tank Buster' UAVs

Record loss for Lidl in Belgium
Sales and margins are under pressure at Lidl. In the past financial year, the hard discounter in Belgium even went into the red by 51.2 million euros. Lidl’s sales in Belgium fell by 2.2% to 2.59 billion in the past financial year, reports De Standaard. Rising costs caused an operating loss of 47.1 million euros compared to 7 million in the previous year. The chain has struggled with profitability problems for some time, but these are the retailer’s worst-ever numbers, the newspaper said. For every 100 euros in sales, the discounter lost 1.94 euros net. Sales per hour worked fell by 6%.

Indonesia’s Blibli, Tiket join forces in new ‘ecosystem’
Indonesian e-commerce company Blibli has announced a unified omnichannel ecosystem called Blibli Tiket. The ecosystem brings together Blibli’s offerings with those of its two subsidiaries: travel booking platform and supermarket chain Ranch Market.

UK: Cost of living crisis halts ‘extraordinary’ progress at luxury supermarket chain, Booths boss warns
The “extraordinary” financial performance of high-end supermarket chain Booths will be halted by the cost-of-living crisis, its boss has warned. Chairman and Chief Executive Edwin Booth said he has “no doubt” that the rapid rise in inflation will hurt the company’s sales and earnings in the 12 months to April 2023.

Also Read :  Pyongyang’s missile tests weaken Asean’s hand on Myanmar

Auchan Poland reports sales and profit increases for the full year 2021
Auchan Retail Polska, the Polish arm of France’s Auchan Retail, has reported full-year 2021 sales of PLN 11.2 billion (€2.32 billion), up from PLN 11.03 billion (€2.29 billion ) last year. The group, which said the results show it remains the leader in hypermarket format in Poland, reported profit of PLN 222 million (€46m) for the period, up by PLN 57m (€11.8m). . €) was higher than in the previous year.

Lulu Group targets Iraq and Africa ahead of Abu Dhabi IPO
Lulu Group International confirmed to AGBI that it will add new outlets to its network as it consolidates in the Middle East and expands into new markets, including Iraq and North Africa.

Also Read :  The Great ASEAN Economic Rebound – Analysis – Eurasia Review

Indonesian quick commerce company closes shop, plans transition
Indonesian fast trading company Bananas will cease operations after launch in January. As a result, 36 employees were also made redundant. Bananas told Tech in Asia that despite “months of constant experimentation with different parts of the business,” it couldn’t find a one-size-fits-all economy that worked for the company.

CJ Lang records fourth year of growth for Spar stores in Scotland
Scottish savings wholesaler and convenience retailer CJ Lang & Son has reported its fourth straight year of profit growth as it continues its turnaround strategy. Pre-tax profit increased by 10.7% to £3.4m for the year ended 30 April 2022 with margin up 0.3% to 23.3%. Revenue slipped slightly by 0.1% to £212.3 million. The Dundee-based company said the results were delivered against the backdrop of an “extremely challenging economic climate that continues to drive changes in shopping behaviour”.

Germany: ailing Galeria Karstadt Kaufhof needs support again
The German department store chain Galeria Karstadt Kaufhof, INNO’s parent company in Belgium, is once again in dire straits. The company, which is struggling to survive, has applied for state aid for the third time.


Leave a Reply

Your email address will not be published.