August saw the announcement of an eighth consecutive quarter of declining sales at Asda, the UK arm of Wal-Mart. Across the Atlantic, Canada's Couche-Tard continued its deal-making. In Europe, France's Casino outlined plans to launch...
In May, Wal-Mart's latest financial results took the eye, although in some ways the numbers prompted as many questions as answers. In the US, there were more entrants into online grocery, notably recently-launched pure-play jet.com. Elsewhere, Japan's Aeon and France's Picard teamed up to launch the frozen food chain in the Asian market, while France's competition regulator announced plans to investigate the buying partnership between Auchan and Systeme-U.
Japan-based retailer Aeon warned that its full-year 2013 profit is expected to come in well below expectations. The company was hit by weak domestic consumer sentiment in the 12 months to end-February, with efforts to stimulate supermarket sales failing to offset group-wide pressure on revenues. But Aeon management also took the opportunity to outline its medium-term growth priorities. Katy Askew reports.
Japanese retail giant Aeon has slashed its earnings estimates for the financial year to end-February, citing competitive pressures in the tough Japanese supermarket sector.
Tesco clearly has a lot on its plate. On the one hand, the UK's largest retailer is focused on transforming its domestic business through a capital intensive programme of store refurbishments and a potentially margin-dilutive drive online. On the other, the need to reverse overseas volume declines in order to shore-up international margins is pressing. CEO Philip Clarke is attempting to perform a complex balancing act. Katy Askew reports.
Hong-Kong based retail-to-energy conglomerate Hutchison Whampoa has dropped plans to auction its ParknShop supermarket business. "Hutchison Whampoa Limited has concluded that a sale of PNS by way of a private…
Japanese retailer Daiei has seen its net losses widen in the first half of its financial year. In the six months to the end of August, Daiei booked a net…
Four bidders reportedly remain in the race to acquire Hong Kong retailer ParknShop - with regional retailers and private-equity firms said to be out of the running. According to reports,…
Thailand's Charoen Pokphand Group, the owner of Thai retailer CP All, has reportedly submitted a first-round bid for Hong Kong based supermarket ParknShop. ParknShop was put on the block by…
Private-equity bidders KKR & Co. and TPG Capital Management have reportedly been dropped from the auction process to acquire Hong Kong supermarket chain ParknShop. ParknShop was put on the block…
China Resources Enterprise has reportedly today (21 August) confirmed it has bid for Hong Kong supermarket chain ParknShop. Over the weekend, the state-backed conglomerate, which already has stores in Hong…
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