Asda poaches Morrisons technology and finance bosses
Retail Gazette
JANUARY 2, 2024
The new CDO will join the grocer’s executive leadership team, led by co-owned Mohsin Issa.
Grocers lead retail sector in balancing profit pressure, planet and price rises
A1 Retail
NOVEMBER 3, 2023
Led by grocers, large retailers continue to turn the screw on operating cost pressures. But a solution to please both finance and sustainability teams could be – literally – above retailers’ heads. The post Grocers lead retail sector in balancing profit pressure, planet and price rises appeared first on A1 Retail Magazine.
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Study eyes grocers’ long-term future
Mass Relators
JULY 10, 2023
Grocers will rise or fall based on their ability to align themselves to the dominant demographic, cultural, economic and technological trends that will slowly reshape the market context over decades to come. . Health and wellness and finances are opposing forces for many consumers. values-based consumption and channel proliferation.
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Amazon, Walmart among grocers best-positioned for 2053
Mass Relators
JUNE 21, 2023
Grocers will rise or fall based on their ability to align themselves to the dominant demographic, cultural, economic, and technological trends that will slowly reshape the market context over decades to come. Only when income exceeds $150,000 per year do finances even out with health and the environment as sources of stress for consumers.
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Debt-ridden Asda faces soaring interest bill exceeding £400m
Retail Gazette
DECEMBER 19, 2023
The grocer’s chief financial officer Michael Gleeson told the Business & Trade Committee on this week that the company’s debt interest bill would rise by as much as £30m in February when half a billion pounds of loans switch from a fixed to floating interest rate. times, that has gone down to 3.8
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Mamas & Papas poaches Asda exec as new CFO
Retail Gazette
FEBRUARY 2, 2024
Mamas & Papas has poached Asda’s finance exec Sarah Ashby as its new chief financial officer. Asbhy, who took up the post on January 19, most recently served as the supermarket chain’s senior finance director of projects and M&A.
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Morrisons posts strongest like-for-like sales growth in three years
Retail Gazette
MARCH 27, 2024
The grocer claimed its key customer satisfaction metrics were “improving strongly”, and that its complaints had more than halved during the last 20 weeks. ” The update comes depsite the grocer pulling in a £1bn loss last year, as its debt interest payments related to its private equity takeover soared. .”
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Waitrose boss claims ‘era of cheap food is over’
Retail Gazette
MAY 9, 2024
Waitrose executive director James Bailey has claimed the “era of cheap food is over,” days before the grocer is due to unveil a new initiative to support its British farmers in switching to regenerative agriculture. “We need to witness the end of cheap food and a reversal of the value of the food people are eating.”
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Ukraine Crisis: Retailers React With Direct Support, Charitable Efforts and Product Boycotts
Retail TouchPoints
FEBRUARY 28, 2022
“Ontario joins Canada’s allies in condemning the Russian government’s act of aggression against the Ukrainian people, and will direct the [Liquor Control Board of Ontario] to withdraw all products produced in Russia from store shelves,” said Peter Bethlenfalvy, Finance Minister of Ontario in a tweet.
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Showfields and the bankruptcy of the ‘most interesting store in the world’
Inside Retail
OCTOBER 15, 2023
US-based retailer Showfields, the self-described “most interesting store in the world”, filed for bankruptcy this month and will be restructuring through a form of Chapter 11 bankruptcy created during Covid to help small businesses continue operations, reorganise, and maintain control of finances without creditors taking over.
Asda unveils plans for ‘transformational’ redevelopment of London superstore
Retail Gazette
MAY 13, 2024
The grocer claimed sustainability would be at the heart of the new site, with the scheme providing significant biodiversity and ecology net gains. It will also feature a new 60,000 sq ft flagship Asda superstore and up to 400 car parking spaces for shoppers. Additionally, up to c.1,500 1,500 new homes are planned to be built, c.500
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Asda private equity owners to face grilling by MPs
Retail Gazette
JANUARY 5, 2024
The move follows evidence given by both GMB Union and the grocer’s bosses at a committee session before Christmas, which Asda co-owner TDR Capital did not attend. The £500m in borrowings are part of the debts taken on by the supermarket to finance the acquisition of the business back in 2021.
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Best of 2023: Is private equity ownership slowly killing retail?
Retail Gazette
DECEMBER 19, 2023
GMB national officer Nadine Houghton argues the grocer is being used by its owners as a “cash cow” and warns that rising interest rates will leave the retailer’s debt level “unsustainable”. The private equity-owned grocer is not alone in its quest to manage debt. But why is private equity so controversial?
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With 30-Minute Delivery Service, Kroger and Instacart Raise the Stakes in the Convenience Space
Retail TouchPoints
SEPTEMBER 14, 2021
Kroger reached more than $10 billion in ecommerce sales in 2021, and the grocer aims to double both its digital sales and profitability rate by the end of 2023, according to CEO Rodney McMullen. The Kroger Co. The service includes 25,000 items ranging from diapers to snacks to over-the-counter medication.
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Amazon “Under Siege” as New Boss Takes Over for Jeff Bezos
VMS
JULY 8, 2021
With Andy Jassy taking the reins from Jeff Bezos at Amazon this week, Yahoo Finance identified three main challenges the former now faces as the newly minted CEO of the Seattle-based e-commerce giant. Read more at Yahoo Finance. Most notably, the article warns of looming antitrust suits.
Lidl rapid expansion plans threatened as interest bill triples to £108m
Retail Gazette
OCTOBER 2, 2023
Along with fellow discount rival Aldi, the grocers have stolen significant market share away from traditional supermarkets, with the pair accounting for £1 of every £5.50 spent in grocers. The German discounter’s British arm plunged into the red after the interest bill on its debts almost trebled to £108m, This is Money reports.
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AWS Q&A: How Retailers can Prepare Ecommerce Operations for COVID-Driven Uncertainty
Retail TouchPoints
OCTOBER 26, 2020
Consumers fear for their health and they fear for their finances, especially today with what is around 20 million. If you’re a grocer, you have different problems than if you’re a fashion retailer, right? It’s no longer ‘I always go to the same grocer every week.’ people still without jobs.
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Laying the Operational Foundation for Autonomous Stores
Retail TouchPoints
AUGUST 14, 2023
Preparing Internal Operations for Smart Stores The importance of operational preparedness is especially true for grocers implementing emerging technologies such as autonomous checkout, also referred to as seamless checkout. Companies must excel and stay ahead of the curve in today’s technologically competitive environment.
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Sainsbury’s growth spurt continues as grocery inflation falls at slower rate
Retail Gazette
JANUARY 30, 2024
McKevitt said: “Christmas is always a bumper period for deals and the grocers pulled the price lever especially hard in December, as they sought to get shoppers through their doors.” ” Additionally, Kantar found 86m more lunchboxes were taken to work last year, as workers kept an eye on their finances.
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Is Aldi and Lidl’s UK expansion slowing down?
Retail Gazette
APRIL 23, 2024
He comments: “It’s hard to pick apart the numbers, but a reasonable conclusion would be that the full-range grocers have become more adept at retaining shoppers than they were in 2008-09 and that the discounters have been seeing more muted like-for-like growth as a consequence.”
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Who could replace Sharon White as the next John Lewis Partnership chair?
Retail Gazette
OCTOBER 5, 2023
Potts, who stepped away from the grocer last month after nine years, brings a wealth of retail and grocery experience – something that’s desperately needed on the Partnership’s current board and which White has been criticised as lacking. Davies is known to foster a great culture wherever he has gone.
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The moves that matter: Retail’s biggest hires in June
Retail Gazette
JULY 1, 2023
Ex-Ted Baker CEO Rachel Osborne has also joined the board of the online grocer Pets at Home has hired ex-Asda exec Steve Shirley as operations director for retail, completing the division’s senior leadership team. He will be replaced by existing Boots finance executive Sam Hunter.
How the Store of the Future will Track Shopper Behavior Ecommerce-Style
Retail TouchPoints
FEBRUARY 7, 2024
Rema 1000 x Revionics Photo courtesy Rema 1000 Norwegian discount grocer Rema 1000 faces intense competition to keep its prices low. In North America that operation is led in part by Mike Brown, PVH’s VP of Store Operations and Finance, who describes his job as “ blending store tech with operational efficiency.”
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Hy-Vee names Gosch CEO of retail operations
Mass Relators
AUGUST 16, 2022
We have become more than just a grocer. He has a great understanding of how we need to continue to evolve our company to grow, which will keep us on a path toward continued success as one of the best grocers in the U.S.”. He was promoted to his current position in December 2021.
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2023 in review: 8 stories that rocked retail this year
Retail Gazette
DECEMBER 21, 2023
Soaring food prices put the grocers under the spotlight and, despite the wafer-thin margins they operate on, execs from Tesco, Sainsbury’s, Asda and Morrisons were hauled in front of MPs to investigate whether the sector was profiteering from the cost-of-living crisis. Food and drink inflation rose to 19.1%
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Aldi vs Lidl: Who will win the battle of the discounters?
Retail Gazette
OCTOBER 5, 2023
The grocer invested £100m in keeping prices lower than the traditional supermarkets and a further £50m on increasing its minimum hourly pay for staff over the year. Kantar Consulting associate director Sophie Carroll says: “Lidl has been hit by higher costs, including new stores, energy, transport, procurement and financing.
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Pricing Amid Inflation: McKinsey Partner Offers Data-Led Best Practices
Retail TouchPoints
SEPTEMBER 28, 2022
As a result, grocers have to consider the impact of pricing consistency and competitors on loyalty when shifting prices. Lastly, it’s important to note that during this period, consumers are changing how they manage their finances. Our Consumer Pulse survey showed that 66% of consumers are acting in response to rising inflation.
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Study: Americans’ confidence plummets to pandemic low
Mass Relators
SEPTEMBER 27, 2021
consumers reported that grocery stores are not doing a good job with COVID-19, compared to February 2021 when 50% of respondents reported grocers were doing a good job. After living with the pandemic for 20 months, consumers are now twice as concerned about their personal finances as they are about Covid itself.
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Cronheim Mortgage Arranges $11.5 Million Permanent Loan for Northern New Jersey Shopping Center
Shopping Center
DECEMBER 6, 2022
Grocer ShopRite anchors the center. Belleville, N.J. Cronheim Mortgage has arranged an $11.5 million permanent loan for a 70,450-square-foot shopping center in the Northern New Jersey community of Belleville. Allison Villamagna and Andrew Stewart placed the 12-year loan through… The post Cronheim Mortgage Arranges $11.5
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Axiom Capital Arranges $25 Million Refinancing for Northern New Jersey Retail Center
Shopping Center
MARCH 14, 2022
Grocer ShopRite anchors the three-building property, with Wells Fargo occupying… The post Axiom Capital Arranges $25 Million Refinancing for Northern New Jersey Retail Center appeared first on Shopping Center Business. Franklin Township, N.J. Axiom Capital Corp.
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Morrisons takeover approach: Who wants to buy the supermarket and why?
365 Retail
JUNE 21, 2021
Shares in Morrisons soared on Monday morning following confirmation of the rejection at the weekend, as the chain said potential bidder Clayton, Dubilier & Rice “significantly undervalued” the grocer with its 230p-per-share enquiry. Morrisons has rejected a 230p per share takeover offer worth around £5.5 Who is the potential buyer?
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Save A Lot sells 32 stores to franchisee
Mass Relators
SEPTEMBER 7, 2021
In many cases our stores are the only accessible option for healthy, affordable groceries, and we will work hard to earn our place as the beloved hometown grocer across our communities,” said Joseph Canfield, who serves as Yellow Banana’s CEO. The post Save A Lot sells 32 stores to franchisee appeared first on MMR: Mass Market Retailers.
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Why are supermarkets jumping on the member prices bandwagon?
Retail Gazette
JULY 18, 2023
He explains: “It has been a key tool for major supermarkets to compete with discounters Aldi and Lidl on price, as high food inflation continues to put pressure on consumer finances. With so many grocers bringing out member prices, how can retailers ensure their loyalty schemes stand out from the competition?
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FMI board maintains leadership positions
Mass Relators
MARCH 30, 2022
Vice Chairman, Finance: Brian George, Alex Lee, Inc., Anthony Hucker, Southeastern Grocers, Inc., Immediate Past Chairman, Joseph Sheridan, Wakefern Food Corporation, Keasbey, NJ. Vice Chairman, Wholesaler: Brandon Barnholt, KeHE Distributors, Naperville, IL. Hickory, NC. Schenectady, NY. Greg Gregerson, Gregerson’s Foods, Inc.,
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Retailers are fighting joblessness
Mass Relators
JUNE 21, 2021
based Southeastern Grocers Inc. The program calls for hiring 1,000 professionals over the coming years for an initial 16-week paid working opportunity in several different areas of the company, including operations and finance. Also this month, Jacksonville, Fla.-based
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Which Approach To Self-Service Grocery Checkout Will Emerge As The Standard In 2023?
Retail Minded
NOVEMBER 8, 2022
University of Leicester’s Adrian Beck, a retail finance expert, estimates that moving half or more of transactions to self-service pushes losses 77% higher. It makes sense that grocers might not be sure which way to jump. Although self-service checkouts were first introduced in 1986 , they are still far from perfect.
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Trader Joe’s Strategy: 12 Keys to its Success
Indigo 9 Digital
APRIL 11, 2022
Most grocers charge their suppliers fees for putting an item on the shelf. All of these “details” provide one more reason for shopping at Trader Joe’s versus another grocer. We buy in volume and contract early to get the best prices. This results in higher prices. so we don’t do it. Do you like this content? Excellent customer service.
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FMI honors seven food industry executives
Mass Relators
JANUARY 21, 2023
Obray was fiercely committed to the strength of the independent grocer, customer care and collaboration among his industry peers. He would go on to assume leadership roles in logistics, finance, procurement and management in the grocery, direct-store delivery, bakery, health and beauty care, non-foods and pharmacy divisions.
2022 Best Business Practices for Brands and Retail Buyers
Rangeme
JANUARY 11, 2022
The CPG trends to watch in 2022, per Pop Up Grocer. The CPG trends to watch in 2022, per Pop Up Grocer. Buyers engaged in more than 2,200 supplier meetings, covering categories like food, beverage, baby, pet, beauty, and health care. 17 ECRM’s Global Market: Fall Experience Exceeds Expectations with 3,700+ Participants.
The Other Side of Coffee Finds Customers Wanting to Try Something New at Grocery Outlet
Rangeme
AUGUST 11, 2021
Through these opportunities, we’ve been able to connect with retail buyers from Southeastern Grocers, RiteAid, and more.”. This was our first real-world experience of working with a major retailer in the areas of finance and logistics. Overcoming obstacles and learning curves. What’s next for The Other Side of Coffee?
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Jason & Scot Show Episode 276 – Recap of GroceryShop 2021
Retail Geek
SEPTEMBER 24, 2021
That’s a pretty big shot you know most most Grocers are doing these like 224 our windows, um and they’re complaining about sales being wildly unprofitable and so for Kroger to you know who like hasn’t had an awesome service level before to say hey we’re going to deliver in 30 minutes is, it’s an interesting promise I.
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Retailers are losing tens of millions by undervaluing their retail media assets
Inside Retail
MARCH 13, 2024
The finance sector is the fastest growing at 19 per cent year on year, as financial institutions recognise the value of their vast media ecosystems and customer bases. It can often be difficult for finance departments to pick where that value is because a lot of the deals are sometimes struck as ad subsidies.
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Has John Lewis Partnership finally turned a corner with its ‘refreshed’ turnaround plan?
Retail Gazette
MARCH 14, 2024
” The partnership’s finance director Bérangère Michel says the business is in “good financial health” in pursuing the rest of its turnaround strategy and has secured the funding it needs for the remainder of the plan, helped by a £260m injection of cash from the sale and leaseback of 11 Waitrose stores and a new term loan.
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AI in Retail: Optimizing Operations from Supply Chains to Employee Scheduling
Retail TouchPoints
APRIL 6, 2023
The solution provider noted that grocers using its solution typically see a 3% sales increase, significant improvement in inventory turns and up to 25% less food waste — a result that would support the supermarket retailer’s sustainability goals. said Thota.
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