Singapore: Grab reports second quarter 2024 results
Grab Holdings Limited announced unaudited financial results for the second quarter ended June 30, 2024: Revenue grew 17% year-over-year, or 23% on a constant currency basis to $664mln. On-Demand GMV grew 13% year-over-year, or 18% on a constant currency basis to $4.4bln. Operating Loss improved by $121mln year-over-year to $56mln. Adjusted EBITDA improved by $81mln year-over-year to $64mln.
Source: grab.com
Greek supermarket prices declined in July, study finds
The prices of products in Greek supermarkets saw an average year-on-year decline of 1.56% in July, according to a new survey by the Institute of Consumer Goods Retail Research (IELKA). The biggest decline was seen in the fresh fruit and vegetables category (-7.34%) as it benefited from better weather conditions compared to 2023.
Source: esmmagazine.com
China: Alibaba Group announces June quarter 2024 results
Alibaba Group Holding Limited ("Alibaba" or "Alibaba Group") announced its financial results for the quarter ended June 30, 2024. In the quarter ended June 30, 2024: Revenue was RMB243,236mln (US$33,470mln), an increase of 4% year-over-year. Income from operations was RMB35,989mln (US$4,952mln). Net income attributable to ordinary shareholders was RMB24,269mln (US$3,340mln).
Source: alibabagroup.com
UK: Aldi axes click and collect service
Aldi UK, Britain's fourth largest supermarket group, is to end its click and collect service that was introduced at the height of the pandemic, the company said. It is currently available in 174 stores out of Aldi's UK total of 1,020, but the service will end on August 18.
Source: reuters.com
China e-commerce group JD.com beats profit forecasts in second quarter
Chinese e-commerce group JD.com reported forecast beating second-quarter profits, helped by price cuts that attracted cost-conscious shoppers to its platform. The company's total revenue rose 1.2% to 291.40bln yuan ($40.71bln) in the second quarter, compared with estimates of 292.89bln yuan.
Source: reuters.com
Soccer spending and discounts help boost British retail sales in July
British retail sales edged up in July, boosted in part by extra spending due to the men's Euros soccer championship, official figures showed, after an unusually cool and wet June had kept shoppers away and weighed on broader economic growth. Retail sales volumes rose 0.5% in July after falling 0.9% in June and were 1.4% greater than a year earlier, the Office for National Statistics said.
Source: reuters.com
US: SpartanNash announces second quarter fiscal 2024 results
Food solutions company SpartanNash (the "Company") reported financial results for its 12-week second quarter ended July 13, 2024. Second quarter fiscal 2024 highlights (all comparisons are for the second quarter of 2024 compared with the second quarter of 2023, unless otherwise noted.) Net sales decreased 3.5% to $2.23bln, driven by lower volumes in both the Wholesale and Retail segments. Wholesale segment net sales decreased 4.8% to $1.55bln primarily due to reduced volumes in the national accounts customer channel. Retail segment net sales decreased 0.4% to $676.1mln, with comparable store sales down 2.5%. Incremental sales from newly acquired Metcalfe's Market stores were offset by lower consumer demand trends.
Source: prnewswire.com
US: Colorado kicks off produce incentive program for SNAP participants
Colorado has started providing SNAP participants with financial incentives to encourage them to use their EBT benefits to purchase fresh produce, the USDA's Food and Nutrition Service announced. Participants in the state's new SNAP Produce Bonus program will receive a dollar-for-dollar match on their spending for qualifying fruits and vegetables, with a cap of $20 per transaction and $60 per month.
Source: grocerydive.com
US retail sales of plant-based milk by numbers: Coconut is up, almond is down, soy and oat are flat
US retail sales of plant-based milk fell 5.2% in the year to July 14, with units down 5.9%, according to new data from SPINS shared with AgFunderNews. Sales of almond milk continued to decline, while sales of oat and soy milk remained flat. The only major subsegment delivering meaningful growth over the 52-week period was coconut milk, with dollar sales up 12.6% to $137mln and units up 13.9%, albeit off a small base.
Source: agfundernews.com
US: Walmart boosts earnings projections after strong Q2
For the second quarter of 2025, Walmart's consolidated revenue came in at $169.3bln, a 4.8% year-over-year increase. In the U.S., net sales were over $115bln, which is a 4.1% bump compared to a year ago. Comparable sales, excluding gas, increased by 4.2%, while transactions (3.6%) and average ticket (0.6%) were also up.
Source: supermarketnews.com
US: T&T to open first store in California
Asian grocery retailer T&T Supermarket Inc. is set to open its first store in California. The 55,000 square-foot supermarket, slated to open next fall, will be located at the Westgate Center in San Jose - the site of a former Walmart store.
Source: canadiangrocer.com
US: The Fresh Market, NielsenIQ form new partnership
The Fresh Market has entered into a new cooperation agreement with NielsenIQ (NIQ). The goal of the partnership is for the global consumer intelligence company to support the specialty food retailer as it continues to grow and redefine the grocery experience, according to NIQ.
Source: progressivegrocer.com
US: Consumer Price Index - July 2024
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis, after declining 0.1% in June, the U.S. Bureau of Labor Statistics reported. The fruits and vegetables index rose 0.8% over the month and the nonalcoholic beverages index increased 0.5%.
Source: bls.gov
US: Divert, Inc. launches Food Waste Legislative Tracker to accelerate progress against the wasted food crisis
Divert, Inc., an impact technology company on a mission to Protect the Value of Food™, announced the release of the Food Waste Legislative Tracker to provide insight into in-progress and existing wasted food policy issues across the U.S.
Source: businesswire.com
US: Consumers prove resilient - Again
The latest Brick Meets Click/Mercatus Grocery Shopping Survey showed that the total U.S. online grocery market experienced a 9.2% year-over-year (YoY) gain to reach $7.9bln in sales last month.
Source: progressivegrocer.com