Supermarket

FMCG major Dabur India's stock seems reasonably valued post correction

Dabur is expanding its premium portfolio and Total Addressable Market (TAM). The company estimates its existing portfolio, contributes less than 5 per cent of TAM

Restructuring will boost 7-eleven growth prospects: Seven & i CEO

While its Japanese 7-Eleven convenience stores are a money-spinner, Seven & i has been hobbled by poor performance at its supermarkets, including the Ito Yokado stores that make up a part

Seven & i to start majority stake sale in supermarkets by year-end: Nikkei

Seven & i has been under pressure from investor ValueAct Capital in recent years to improve its asset allocation and has sold down stakes in other lower-performing assets

Australia to make supermarket industry code mandatory, fines for violation

The supermarkets will face fines of up to 10 per cent of annual turnover for breaches of the code

Instacart goes from supermarket to stock market, raising $660 mn with IPO

Instacart is heading from the supermarket to the stock market. The San Francisco-based grocery delivery company raised USD 660 million in its initial public offering of stock, selling 22 million shares at USD 30 apiece. Its shares were set to begin trading on Tuesday on the Nasdaq stock exchange under the stock symbol CART. The pricing of the IPO gave Instacart a market value of around USD 10 billion, significantly lower than the USD 39 billion value placed on it after a fund-raising round in 2021. Instacart provides delivery and pickup from 85 per cent of US grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It also provides in-store technology, like smart carts and electronic shelf tags, and sells online ads to food companies and retailers. It says it has 7.7 million active customers who spend about USD 317 per month on the platform. In a letter to investors earlier this month, Instacart CEO Fidji Simo said grocery delivery has tremendous potent

Reliance Retail may convert Metro Cash & Carry stores into B2B outlets

They may not be converted into hypermarkets and supermarkets as many are on city outskirts

Analysts remain bearish on liquor companies despite Q1 volume gains

Raw material pressures and lack of pricing power key reasons for this view

Damani's budget grocery chain DMart eyes fivefold growth in heated market

Avenue Supermarts could scale up the chain known for its knockdown prices on everything from lentils to laundry powder to 1,500 supermarkets from 284

FMCG volumes recover in urban India in April-June, decline in rural: Report

Customers buying smaller packs as both traditional kirana shops and modern supermarkets clock business: NielsenIQ

BigBasket FY22 revenue up 17% to Rs 7,119 cr, loss widens 4x to Rs 813 cr

BigBasket expects GMV to grow 30% to Rs 13,000 cr in FY23 with quick commerce push; will scale up offline stores from 90 to 695 in a year, will double footprint to 70 cities

UAE-based billionaire Yussuf Ali's Lulu Group enters UP with supermarket

Known for its sprawling business interests worldwide, billionaire Yussuf Ali-led Lulu Group is now entering northern India with one of the largest supermarkets in Uttar Pradesh

UAE's Lulu Group expands in country of its founder Yusuff Ali

Abu Dhabibased supermarket chain Lulu Group opened a mall in Lucknow on Sunday as it expands in the country of its founder Yusuff Ali.

Gunman opens fire in Buffalo supermarket in US, kills 10 in hate crime

Police said he shot 11 Black victims and two who were white before surrendering to police

Maharashtra govt nod for wine sale in supermarkets unfortunate: Anna Hazare

Social activist Anna Hazare on Monday said it was unfortunate that the Maharashtra government was giving priority to liquor sale for financial gains

Decision to allow wine sale in supermarkets smacks of a 'deal': Fadnavis

Maharashtra Leader of Opposition Devendra Fadnavis on Friday said that the Maha Vikas Aghadi government's decision on Thursday to allow sale of liquor in supermarkets smacked of a "deal"

DMart forays into Haryana, opens 94,000 sq ft store in Faridabad

This is the second DMart store in NCR, the first one is in Ghaziabad.

Bidding war for British supermarket chain Morrisons heats up

Shares in British supermarket chain Morrisons spiked higher Friday after New York-based private equity firm Clayton, Dubilier & Rice trumped a previous offer for the company with a 7 billion-pound ($9.5 billion) bid. Morrisons' board has accepted the offer and said shareholders should vote in favor of the takeover at a meeting due in early October. That means the company has withdrawn its recommendation for investors to accept a previous 6.7 billion-pound takeover deal from a consortium led by rival private equity firm Fortress, which said it was considering its options. The news of the new offer and the possibility of a continuation in the bidding war buoyed Morrisons' share price. In morning trading in London, it was up 4.3% at 291.20 pence. Morrisons is Britain's fourth-largest retailer, employing about 110,000 people in nearly 500 stores and over 300 gas stations. The new offer comes a week after CD&R was given an extended deadline until Friday afternoon by British ...

Fortress-led group to buy UK's Morrisons for $8.7 billion

Morrisons, the UK's fourth-largest supermarket chain, has accepted a 6.3 billion-pound (USD 8.7 billion) takeover bid from a group of buyers led by Fortress Investment Group. The deal comes as investment firms look for opportunities in Britain, where the country's departure from the European Union and the COVID-19 pandemic have weighed on share prices. Just last month, Morrisons rejected an unsolicited offer of 5.5 billion pounds from New York-based Clayton, Dubilier & Rice, saying the bid undervalued the company. The group led by Fortress, a New York-based private equity firm, agreed to pay 254 pence per share for Morrisons, 42 per cent more than the shares were worth before the bid from Clayton Dubilier. The buyers also include the Canada Pension Plan Investment Board and Koch Real Estate Investments. We have looked very carefully at Fortress' approach, their plans for the business and their overall suitability as an owner of a unique British food-maker and shopkeeper, said ...

Sandwich chain to tailor: Companies adapt again as workers return to office

Retailers like sandwich chain Pret a Manger Ltd can serve as a model for how to accommodate remote workers.

UK supermarket giant Tesco sees profit dented by Covid related costs

Tesco is Britain's biggest supermarket