Canada news

13 March 2014
Sobeys’ third quarter sales increased by 40.4% to $6.0bn, impacted by the acquisition of Canada Safeway. Excluding the acquisition, sales were up 2.7%, while same store-sales declined 0.2%. Net earnings from food retailing fell from $67.7m in 2013 to $3.9m, mainly due to sales and gross margin impacts and finance costs related to the acquisition. Margins impacted by new commercial programs t...
06 March 2014
Walmart US has shared more details of its small format plans for this year. Speaking at an industry event, Bill Simon, President & CEO of Walmart US, highlighted the strength of these stores in what was a tough and challenging year overall, and the shape of its roll-out plans going forward. Small formats to capture ‘quick-trip’ spend Last month, Walmart announced a significant accelerat...
06 March 2014
Costco’s second quarter sales increased by 5.8% to $25.8bn, with comparable store sales (ex-fuel and currency impacts) up 5%. Net income attributable to Costco fell by 15.4% to $463m. Profitability impacted by a range of factors The key standout within Costco’s results is the decline in net income. A number of factors impacted the retailer’s profitability during the quarter including weak...
27 February 2014
Target has reported that sales through its US retail segment decreased by 6.6% in the fourth quarter, reflecting the impact of an additional accounting week in 2012, and 2.5% decrease in comparable sales. This was broadly in line with guidance issued in January following a security breach of its payment card data which impacted traffic to its stores. Taking steps to restore consumer confidence...
26 February 2014
At Walmart International’s meeting for the investment community this week, its new President and CEO, David Cheesewright outlined the priorities for the division under his leadership. Simplifying the business In his first set-piece presentation heading up Walmart International, David Cheesewright outlined six key areas of focus for the next 12 months. The key theme of the presentation, an...
20 February 2014
Loblaw is to start testing click and collect for online grocery orders and expand its Joe Fresh clothing offer outside North America for the first time. Testing click and collect in three Ontario stores The click and collect test is to be limited to three stores in the Toronto area. Speaking about the initiative, Loblaw’s President & CEO Vicente Trius stated that online is an important eleme...
20 February 2014
This week Walmart announced its fourth quarter and full year results. We take a look at five key takeaways and what they could mean for its suppliers. 1. Driving change in the business to increase customer relevance : Doug McMillon, commenting on his first set of results as President & CEO, spoke about making changes to improve the business, with a filter on increasing customer relevance. He ...
20 February 2014
Walmart's full year results, for the year to January 31, 2014, revealed consolidated net sales grew by 1.6% to $473.1bn. Consolidated net income attributable to Walmart fell by 5.7% to $16.0bn. The results in summary Given that Walmart had issued a trading update at the end of January there were no real surprises in these results, beyond the rapid expansion announced in small ...
13 February 2014
Sobeys is to sell to 30 stores in Western Canada, with separate deals agreed with the Overwaitea Food Group and Federated Co-operatives Limited. Required divestments as part of the Canada Safeway deal These stores form part of the October 2013 Consent Agreement with the Competition Bureau which Sobeys signed in relation to its purchase of Canada Safeway. While this required the retailer to...
12 February 2014
Whole Foods Market’s first quarter sales, for the 16 weeks to January 9, 2014, increased by 9.9% to $4.2bn, with comparable store sales up 5.4%. Net income increased by 8.2% to $156m. Macro environment and weather impact December sales The retailer has now recorded two successive quarters of declining comp store sales growth, and its performance is in marked contrast to the 7.1% growth whi...