Retail and consumer goods industry news

04 May 2021
CEO of Alibaba’s Freshippo grocery retail chain, Hou Yi, has announced expansion plans to open 10 more Freshippo X Stores in 2021. The first store is profitable within two months of the store opening The first X Store, Alibaba’s membership-only wholesale store, opened in October last year in Shanghai. Hou Yi revealed that the store is making profit by end of 2020, merely two months from t...
03 May 2021
Target has emerged as one of the winners of the pandemic in the US. While digital growth accelerated 145% to account for almost 18% of sales last year, its physical store network was central to this, fulfilling over 95% of digital sales. This year, Target will continue to grow its presence across the US with 40 new stores as it continues to enhance its omnichannel strategy. Increasing capex to...
30 April 2021
Amazon's net sales increased by 44% year-on-year (YoY) to $108.5bn, and operating income increased 224%, to $8.1bn for the first quarter (ended March 31). International segment driving growth Amazon’s international segment grew 60%, compared to North America which grew 40%. The international business now accounts for 28% of Amazon’s total sales, versus 25% last year. Amazon continues to lau...
30 April 2021
Following a strong first quarter, with consolidated net sales up 12.7%, Hershey has raised its outlook for the full financial year. Having initially forecast sales growth of 2-4%, it now expects growth of 4-6%. Source: IGD Research 1. New at-home behaviours are forming new traditions Families continue to embrace the at-home lifestyle, with its brands central to game and movie nights...
29 April 2021
Shopping malls will reduce operating hours in 18 high-risk provinces. The context After a year of relatively minor outbreaks, Thailand is recording its biggest and fastest spread of COVID-19. The number of cases has increased to 61,699, doubling the number since the start of April. There are 178 fatalities. The Thai government has yet to start mass vaccinations. New hours will take effec...
29 April 2021
Homeplus, South Korea’s second largest hypermarket chain, has appointed Lee Jae-hoon, current CEO of Carver Korea, as its new CEO. Has decades of CEO experience His appointment came three months after the retailer's previous CEO Lim Il-soon resigned in January . Lee has decades of CEO experience leading various businesses, including KFC Korea, Pizza Hut Korea. " The newly appointe...
29 April 2021
Woolworths has released Q3 results with sales up 0.4% to AU$16,566m. However, the data shows two distinct trading periods during the quarter with sales heavily impacted in the last six weeks as the retailer starts to cycle COVID-19 trading from 2020. So what have we learnt? Growth ahead of Coles, but not on a two-year basis Although food and liquor sales declined sharply in the final six we...
29 April 2021
After much anticipation Eataly opened its first UK store in London, and 43 rd globally, in the City close to Liverpool Street Station. The concept of Eataly is simple: showcasing the best of Italian gastronomy in a place blending grocery retail and foodservice.  Here is a first look at what is probably the most impressive grocery store opening in the British capital over the recent years. A p...
29 April 2021
Having delivered solid organic revenue growth of 3.8% in Q1, lapping the start of the surge in demand last year (2020 Q1: +6.4%), not only does Mondelez remain confident on the outlook for the full year, but believes it can accelerate its long-term growth rate. 1. Change of business focus unlocking investment dollars From a focus on costs and profit margins, it has switched to focus on top ...
28 April 2021
As Sainsbury’s reveals a strong operating performance in its full year 2020 results, we explore the retailer’s priorities for as it progresses its Food First strategy. Key numbers for 52 weeks to 6 March 2021 Grocery sales +7.8% and total ex fuel retail sales +7.3% Strong Q4 LFL growth of +11.3% Online grocery sales +119.6%, with capacity reaching 850,000 slots per week by year end...