Retail and consumer goods industry news

Tesco has reported a very strong set of results in the UK and Ireland, with trading momentum from Q3 accelerating into the Christmas trading period. However it also warned of increasing Covid costs as the pandemic becomes more severe. These are now expected to reach £810m for the full year, up £85m from the previous estimate in October. Headline LFL results   Q3: 13 w...

Lim Il-soon, chief executive of South Korean retailer HomePlus, is stepping down after leading the business for about three and a half years. The first female CEO in the industry with great achievements Appointed in October 2017, Lim was the first female CEO in the grocery industry in the country. Homeplus said Lim has brought many positive transformations for the company: L eading ...

Midcounties Co-op has reported a positive performance over the Christmas period. In the three weeks to 2 January 2021, like-for-like sales increased by 7.7%. Sales of locally-sourced products up 60% The retailer said sales growth was boosted by its enhanced seasonal range, including a record number of locally-sourced products. As a result of the COVID-19 pandemic, Midcounties Co-op incre...

Canada's Couche-Tard, which operates the Circle K chain of convenience stores globally, has submitted a non-binding offer letter to Carrefour for a "friendly combination" at a price of EURO 20 per share, in a US$20bn deal. The terms of the transaction are under discussion, but there can be no certainty at this stage that these discussions will result in any agreement or transaction. Retail’s d...

As Coop, Jan Linders and Sligro Food Group announce 2020 full year results, we round-up the news from the retailers, while also looking at Jumbo’s outlook for 2021. Coop outperforms the market, at a total level and online Coop reported its turnover grew 16% in 2020, although in a 53-week year, seeing it add more than €200m in new sales and taking its total to €1.7 bn. With the market’s grow...

We look at Target’s performance in November and December and the impact of its digital operations on sales growth. Holiday sales key numbers Comparable sales in November and December increased 17.2% Traffic increased 4.3%, with average ticket up 12.3% Store comparable store sales increased 4.2% Digital comparable sales increased 102% Traffic and basket size up Target fin...

During 2020, food-to-go retailers and specialists alike had to rethink every element of their food-to-go offering to adapt to the changes in consumer behaviour brought about by the COVID-19 pandemic. This has led to a period of intense innovation as businesses seek to develop propositions that can survive the short-term unpredictability of changing restrictions and win in the long term as th...

Lidl saw its strongest Christmas performance on record, with sales growth reaching +17.9% in the four weeks to 27 December. Performance was driven by an increased basket size, which rose 24.8%. We take a look at the other factors that helped Lidl to a record breaking Christmas. Promotional incentives help to differentiate from Aldi Based on released results, Lidl is the best performing of k...

FairPrice has opened a new hypermarket with a dine-in area and local food concepts at Parkway Parade on 12 January. The space was previously occupied by Giant hypermarket until March last year. First cocktail bar in a grocery store Shoppers can order a unique in-house cocktail, the FairPrice Fizz Tipple, made with gin, lemon juice, strawberry syrup and egg white foam. Bar snacks like tortil...

Northern grocer Booths, which traditionally sees a strong performance in the golden quarter, saw Christmas 2020 continue this trend, with results that did not disappoint. It reported an 11.8% growth in sales for the three weeks leading up to Christmas. Key points of performance +15.7% like-for-like sales versus the same three week trading period in 2019 +16.6% in the seven days leadin...