Groupe Casino Blames Price Cuts For First-Half Losses
ESM - European Supermarket Magazine
The industry magazine for C-suite executives and procurement managers working in the European grocery retail sector.
Groupe Casino?swung to a loss of €233 million for the?first half of its financial year, as falling sales and price cuts at its hypermarkets and supermarkets dented its core French business. The?French?retailer's group operating loss came after a profit of €166 million in the first half of 2022, with its operations in France posting a loss of €299 million. Read the full story here →
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Portuguese?retailer?Jerónimo Martins?reported a 36% increase in first-half net profit as high inflation boosted sales, especially in?Poland?where it operates the Biedronka chain. The company?reported a net profit of €356 million?in the period between January and June. Consolidated sales rose 22% to €14.5 billion, driven by?Biedronka, where sales increased 24.5% to €10.3 billion. The company said in a statement that while food inflation gradually declined in the second quarter, it was 'still difficult to predict the inflation reduction for the second half'.
British online supermarket Ocado Group has announced that its litigation with AutoStore has been settled, with both parties taking steps to withdraw their actions against each other. Ocado noted that the terms of the settlement are confidential, but disclosed that there is a cross-licence of certain patents between the parties. The cross-licence gives Ocado and AutoStore complete freedom to access and use technology covered by each other's pre-2020 patents.
Recommended Read:?More Than Half Of Shoppers Have 'Abandoned' E-Commerce, Study Finds
Retailer Colruyt Group is harvesting the first batch of Belgian mussels from its own sea farm in the North Sea. The announcement comes 18 months after the commencement of construction of the group's first commercial sea farm, located some five kilometres off the Belgian coast. In the next few months, Colruyt Group plans to harvest between 10 and 15 tonnes of mussels cultivated using longline or 'suspended culture' technology. The mussels will go on sale in the group's four 'Cru' markets.
Irish grocery sales increased by 9.6% in the four weeks to 9 July 2023, with the average price per pack up by 11.1%, according to the latest data from Kantar. Grocery price inflation continued to drive this growth, despite an increase in value sales. Shoppers visited stores more often, making one additional trip, on average, compared to the same period last year, Kantar noted. In the 12 weeks to 9 July, grocery inflation reached 14.7% , Kantar said – its lowest rate this year, down from 15.8% last month.
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