Mexico: Grupo Comercial Chedraui, SAB de CV third quarter 2022 results
Grupo Comercial Chedraui, SAB de CV reports its 2022 third quarter results. All figures in this report are shown in nominal terms and reported in accordance with International Financial Reporting Standards (IFRS). Quarter Highlights: +23.4% consolidated sales growth in Q3’22. +16.2% same store sales increase in Mexico vs. ANTAD’s 10.7% increase. +11.0% same store sales increase in the US. +37.3% consolidated EBITDA in Q3’22, +22.8% on a comparable basis, with an 84 bp margin expansion. +63.7% consolidated Net Income growth. Reported leverage ratio: 0.42x in Q3’22.
ALDI US and Spryker: Joint development of digital commerce platform
ALDI US is always looking for new ways to save its customers time and money. That is the reason why ALDI US and Spryker Systems have been working together to develop a new online food & grocery shopping experience for the US market, offering grocery delivery or curbside pickup for ALDI US shoppers. The new digital commerce platform is currently being tested with a select group of US customers and is planned to be rolled out nationally in a phased approach.
US: Foodservice operators turn to frozen foods to meet their business needs
New research finds that more than 90% of foodservice operators use frozen foods in their menus, with the healthcare, convenience store and fast casual categories reporting the greatest increase in use since 2019. Commissioned by the American Frozen Food Institute (AFFI) and conducted by Technomic Inc., the second edition of the Power of Frozen in Foodservice research sought to understand operator attitudes and uses of frozen foods. Overall frozen food use in foodservice is high and a large majority of operators report purchasing frozen vegetables (83% of operators), potato products (78%) and fruits (76%). The fastest-growing frozen products that operators purchased were appetizers (75% of operators indicated increased purchases since 2019), seafood (55%) and vegetables (53%).
US: BJ’s widens her footprint in New York
Continuing its recent growth spree, BJ’s Wholesale Club is getting ready to open another store in New York state. The Greenburgh location, about 25 miles north of New York City, will open its doors on October 28, bringing the retailer’s total number of stores to 232. The club store will offer a selection of fresh food and produce, along with a full-service deli, household essentials, pet supplies and more. Members can shop in-club, online at BJs.com or through the grocer’s mobile app, and can opt for curbside or in-club pickup, or same-day delivery.
US: Kroger debuts shopping carts that double as check-out lanes
The Kroger Co. held a ribbon-cutting ceremony at a Monroe, Ohio, location to unveil the grocer’s “store of the future” KroGo carts – a tech-savvy shopping cart that looks to make checkout-free grocery shopping even faster. KroGo is an enhanced shopping cart that features a built-in scale and camera for shoppers to quickly shop and check out from their cart, through a partnership with startup tech firm Caper.
Finns opt for freshness and quality of groceries over price, survey finds
50% of Finnish shoppers prioritise freshness and quality of products in grocery stores over pricing, according to a new study commissioned by K-Citymarket. The study, Impact of the World Situation on Shopping Behavior in the Grocery Store 2022, was conducted by Kantar TNS Oy in August 2022 with 1,016 respondents over the age of 15. The study found that in a tight situation, Finns would be the last to give up fruit and vegetables (46%), traveling by car (38%), and include domestic food products in their diet (36%).
Australia’s Coles flags climate challenge as floods push up inflation
Australian No. 2 grocer Coles Group Ltd flagged climate change as its next big operational challenge as floods pushed up prices in the first quarter, lifting sales revenue but squeezing the farming supply chain. Coles said supermarket sales rose 2.3% in the three months to end-September, helped by price inflation of 7.1%, nearly double the previous quarter’s 4.3%, and added that prices would rise further due to flooding.
India: Walmart will boost Flipkart with $3bln to challenge rivals
Flipkart, the e-commerce platform controlled by Walmart Inc., is considering raising $2-3bln at a valuation of more than $40bln to expand its product range in India and challenge rivals, two people with direct knowledge of the matter said.
Luxembourg among EU’s biggest food wasters, report finds
Luxembourg households are among those who throw away the most food in the EU, with 91 kilograms of food ending up in the bin per person, the bloc’s statistics agency said. The Grand Duchy also needs to do more to meet its recycling targets, the European Commission said this year. The country is set to ban plastic packaging for fruits and vegetables, introducing tougher rules than what the EU mandates. Fruit and vegetables weighing less than 1.5 kg may no longer be wrapped in plastic after Brussels decided the EU is using too much of the wrapping. From 2024, supermarkets above a certain size will need to have their own recycling centres, while from 2025, single-use packaging at festivals and packaging for food deliveries will have to be recyclable.
Spain: Heura raises €20mln, aims to be a European plant-based leader by 2027
Leading Spanish alt-meat brand Heura has raised €20mln in funding as it works to become the European plant-based leader by 2027. The raise includes the issuing of convertible notes, which will lead to equity in what is expected to be one of Europe’s largest alt protein Series B rounds next year. Investors include Unovis Asset Management, the NBA’s Ricky Rubio, footballers Sergio Busquets and Sergi Roberto, and comedian David Broncano.
IGD announces further details about forthcoming Insight and Impact event
IGD’s flagship event for 2022, Insight and Impact, is set to take place in London on 8 November, and has already lined up an enviable array of speakers. Hosted by BBC Business correspondent Emma Simpson, leading executives from Tesco, the Co-Op, Coca-Cola Europacific Partners, Unilever and Żabka Polska are among those set to address the event.
Retailers Tesco and Lidl fight over logo’s trademark in UK court
Britain’s biggest retailer Tesco tried to revive part of its lawsuit against discount supermarket Lidl, telling a London court that its German-owned rival had applied for trademarks for a yellow circle against a blue background in “bad faith”.
Spain: 90% of Consum’s oranges and tangerines are of Valencian origin
Consum has announced it will acquire more than 20,000 tons of citrus products from across the country during the 2022-23 campaign, a 9% increase on the previous year. The cooperative said that 90% of the oranges and tangerines sold at its supermarkets are sourced from Valencia. Among the varieties sourced from Valencia are Navelina, Navel and Navelate oranges, and Orogros, Oronules, Clemenules, Clemenvillas, Nadorcot, Tango, Ortanique and Orri tangerines. In addition, it has purchased a total of 3,000 tons of Primofiori lemons, and 500,000 kilograms of Star Ruby grapefruit, both sourced from the Murcia region.