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☆ Kroger, Albertsons and the New Antitrust Playbook - The New York Times
▼ + stars: | 2024-02-28 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

“The proposed acquisition is by far the largest supermarket merger in U.S. history,” one that would unite “the No. 2 traditional supermarket chains in the United States,” it says in its complaint. is correct on the numbers, but the key word is “traditional.” Traditional supermarket chains no longer dominate the grocery business. Kroger is a distant second to Walmart, with a 10 percent market share, and Albertsons is fourth (behind Costco Wholesale), with 6 percent. So even if Kroger and Albertsons merged, they would be only a little more than half of Walmart’s size.

Organizations: Kroger Co, Albertsons Companies Inc, titans, Federal Trade Commission, Albertsons, Walmart, Sam’s Club, Solomon Partners, Kroger, Costco Wholesale Locations: United States

☆ Walmart Reports Rising Holiday Sales as Shoppers Seek Value
▼ + stars: | 2024-02-20 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +2 min

The NumbersWalmart said its comparable store sales were up 4 percent in the three months that ended in late January compared with the year before. In addition to its same-store sales, Walmart said its U.S. e-commerce business increased 17 percent. At the same time, many retailers, including Walmart, focused on value last year as the economy cooled and shoppers became more selective. The Road AheadAnalysts expect retail sales to continue to moderate this year after a surge in consumer spending during the early stages of the pandemic. U.S. retail sales fell 0.8 percent in January from a month earlier, according to data released from the Commerce Department last week.

Persons: John David Rainey Organizations: Walmart, Target, Kroger, National Retail Federation, Analysts, Commerce Department Locations: U.S

SEATTLE (AP) — Washington state Attorney General Bob Ferguson on Monday sued to block the proposed merger of Kroger and Albertsons, two of the nation's largest grocery chains. Kroger and Albertsons have more than 300 locations in the state and account for more than half of its grocery sales, according to the suit. “This merger is bad for Washington shoppers and workers,” Ferguson said in a news release Monday. "Workers, shoppers and our communities need to prevent this proposed mega-merger from taking place,” Yasmin Ashur, a union member who works in an Albertsons grocery store, said in a union statement Monday. The grocery chains say they must merge to compete with Walmart, Amazon and other major companies that have stepped into the grocery business.

Persons: Bob Ferguson, Ferguson, ” Ferguson, ” Kroger, Fred Meyer, Kroger, ” Yasmin Ashur Organizations: SEATTLE, Kroger, Albertsons, King County Superior Court, Seattle Times, “, Safeway, Federal Trade Commission, United Food & Commercial Workers, The Seattle Times, Workers, S Wholesale Grocers, Walmart, Amazon Locations: Washington, King County, Cincinnati, Boise , Idaho, Oregon, Idaho

It's part of a statewide program requiring larger businesses to donate edible food and, if they can, recycle remaining food scraps. In 2015, the U.S. Department of Agriculture and Environmental Protection Agency announced a goal of 50% food waste reduction by 2030. California and Vermont have launched programs converting residents’ food waste into compost or energy, while Connecticut requires businesses, including larger food wholesalers and supermarkets, to recycle food waste. This is the problem.”Despite New York's success, advocates for food waste worry not enough is being done to meet the 2030 goal. “The best solution for food waste is to not have it in the first place,” Bender said.

Persons: —, Sean Rafferty, wasn't, Rafferty, ”, Emily Broad Leib, Broad Leib, we’re, Sally Rowland, Danielle Vasquez, Vasquez, Betsy Quiroa, Quiroa, Kathryn Bender, ” Bender, let's, ” ___ Casey Organizations: Harvard Food Law, Policy Clinic, The U.S, Harvard University, Food Law, U.S . Department of Agriculture, Environmental Protection Agency, District of Columbia, New York, New, New York State, Westchester, Carver, Port, Social Security, University of Delaware Locations: New York, ” New York, United States, U.S, California, Vermont, Connecticut, Farmers, Maryland, New, Rhode, Massachusetts, Westchester County, Port Chester's, Westchester, ., Boston

☆ Primark owner AB Foods expects growth in new year after profit rises 5%
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

It said lower material and freight costs should result in a "substantial recovery" in Primark's gross margin and overall it expects Primark's adjusted operating profit margin to recover strongly from the 8.2% made in 2022/23. "At this early stage we believe that the adjusted operating profit margin will be above 10% with further improvement dependent on levels of consumer demand," it said. For the year to Sept. 16, 2023, it made an adjusted operating profit, its key profit measure, of 1.51 billion pounds ($1.86 billion), up from the 1.44 billion pounds made in 2021/22. Primark's adjusted operating profit fell 3% to 735 million pounds. The group announced an additional share buy back of 500 million pounds after concluding a programme of the same amount last month.

Persons: James Davey, Sarah Young, Miral Organizations: British Foods, Foods, Revenue, Thomson

☆ Morgan Stanley's stock playbook for this slowing, 'late-cycle' economy
▼ + stars: | 2023-10-25 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

To play this market, the firm recommended a "barbell" of traditional defensive stocks, some select growth opportunities and late-cycle cyclical names. Take a look below for some of Morgan Stanley's favorite stocks in this slow-growth environment. 1) Traditional Defensives Despite its year-to-date underperformance against the broader market, health care remains Morgan Stanley's preferred defensive sector. Still, popular consumer food companies Yum Brands and McDonald's are considered growth stocks based on their market cap and volatility. 3) Late-Cycle Cyclicals Several energy companies — including Marathon Oil , Valero Energy and ConocoPhillips — can shine in a late-cycle market environment, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Pauker, Pauker, Morgan Stanley's, Fisher, Dr Pepper, Eli Lilly, Devin McDermott, Ravi Shanker Organizations: Walmart, Fisher, " Beverage, CenterPoint Energy, Costco, Colgate, Palmolive, Yum Brands, UnitedHealth, Marathon Oil, Valero Energy, ConocoPhillips, Swift Transportation, Defense, Northrop Grumman, Howmet Aerospace, Delta Airlines

☆ How Walmart became America’s largest grocer
▼ + stars: | 2023-10-22 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

In an effort to stretch their dollars, a growing number of Americans are turning to Walmart . The Arkansas-based retailer is America's largest grocer, more than twice the size of its next-biggest competitor as it takes in more than one in four grocery dollars in the U.S., according to KeyBanc Capital Markets. Though many Americans have turned to Walmart for relief from higher prices, the retailer's shoppers aren't immune to inflation. But with inflation cooling and prices leveling off, will Walmart be able to hang on to its newly acquired shoppers? CNBC looks into Walmart's grocery business to see why even more Americans might be buying food from the company in the future.

Persons: Brad Thomas Organizations: Walmart, KeyBanc, CNBC Locations: The Arkansas, U.S, America

☆ Leaked document shows Amazon wants to bring personalized ads to its smart shopping carts in grocery stores
▼ + stars: | 2023-10-18 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Dash Cart users are required to sign in to the cart using an Amazon or Whole Foods account. At the time, Amazon made the Dash Cart available at select Whole Foods stores, in addition to many of its Fresh grocery stores. Once personalized ads are rolled out, Dash Cart users would get ads based on things like the area of the store they are in. Dash Cart users are able to automatically check-out products placed in the cart without having to go through a cashier. But its physical stores revenue, mostly coming from Whole Foods and its Fresh grocery stores, grew just 6% year-over-year last quarter to $5 billion.

Persons: Dash, it's, Jefferies Organizations: Amazon, Foods, Investment

☆ Instacart IPO banks tout e-grocery shopping potential, but challenges loom
▼ + stars: | 2023-10-16 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 16 (Reuters) - Most Wall Street brokerages, including J.P.Morgan and Goldman Sachs, kicked off coverage on Instacart (CART.O) with a bullish view, betting on the grocery delivery app's growth amid a shift to online shopping. The stock — following a lukewarm debut in September — closed at $25.57 on Friday, below its $30 initial public offering (IPO) price. At least half of Instacart's 20 IPO underwriters have initiated coverage with their top ratings after the quiet period ended. Instacart's slow growth compared to rivals is a top concern, as a reduction in food stamp benefits and a shift back to in-store shopping could limit GTV growth, according to Piper Sandler analyst Alexander Potter. As of Friday, the six brokerages that were not involved in the IPO started coverage with an average rating of "hold", LSEG data showed.

Persons: Eric Cohn, Cheney Orr, Goldman Sachs, —, Baird, Colin Sebastian, Scott Devitt, Justin Post, Piper Sandler, Alexander Potter, Savyata Mishra, Shilpi Majumdar Organizations: Safeway, REUTERS, J.P.Morgan, underwriters, Walmart, Wedbush, BofA Global Research, Thomson Locations: Tucson , Arizona, U.S, Instacart, Bengaluru

☆ Leaked memo shows Amazon will make Fresh grocery deliveries for Prime members a lot cheaper again
▼ + stars: | 2023-10-05 | by ( Ashley Stewart | Eugene Kim | ) www.businessinsider.com time to read: +3 min

Amazon Prime members in the US will soon be able to get free grocery delivery orders from Amazon Fresh when they spend over $100 on the site, Insider has learned. In an email to Insider, Claire Peters, Amazon's worldwide VP of Amazon Fresh, said the change will go into effect Thursday afternoon. Amazon offers grocery delivery to Prime members in more than 3,500 cities and towns across the U.S. Non-Prime members in a dozen metro areas, including Austin, Boston, and San Diego, can also receive grocery deliveries. Amazon is considering a separate, standalone grocery subscription service for Prime members, as Insider previously reported . The internal document about the new Fresh fee structure reflects Amazon's willingness to keep investing in the Fresh grocery business.

Persons: Claire Peters, Peters, Amazon's, it's, Amazon, It's, Brian Olsavsky, Eugene Kim Organizations: Amazon, Foods, U.S . Locations: Austin, Boston, San Diego

☆ Instacart's IPO flops as the stock slumps. Here are 7 reasons why.
▼ + stars: | 2023-09-20 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

This is one of the concerns that has turned Instacart's IPO into a flop on its second day as a public company. To be successful, an IPO must deliver a big pop to the investors who signed on to buy stock when it debuts. He came out with an analysis of Instacart's business on Tuesday, valuing the company at $29 a share. The reason: The grocery business is low-margin, so there's not a lot of room for Instacart to skim more fees. "In short, the growth in online grocery sales will be higher than total grocery sales growth, but not overwhelmingly so."

Persons: Aswath Damodaran, Fidji Simo, Instacart, Rowe Price, Damodaran, there's, Uber, Instacart doesn't Organizations: Service, Fidelity, DST Global, NYU's Stern School of Business, Instacart Shoppers, Shoppers, Tech Locations: Wall, Silicon, Aswath, COVID

All fuel centers and pharmacies associated with the divested stores will remain with the stores and continue to operate. Kroger, based in Cincinnati, Ohio, bid $20 billion for Albertsons. C&S, which was founded in 1918, is a supplier to independent grocery stores, supplying more than 7,500 independent supermarkets, retail chain stores and military bases. It currently runs Grand Union grocery stores and Piggly Wiggly franchise and corporate-owned stores in the Midwest and Carolinas. Shares of Kroger Co., based in Ohio, rose 5% Thursday and Albertsons Cos., based in Idaho, rose 3%.

Persons: Debi Lilly Design, Primo Taglio, Kroger, ” Kroger, Rodney McMullen Organizations: Kroger, Albertsons, S Wholesale Grocers, Waterfront Bistro, Walmart, Amazon, Aldi, Winn, Dixie, Federal Trade Commission, Union, Kroger Co, Albertsons Cos Locations: Cincinnati , Ohio, Midwest, Carolinas, Ohio, Idaho

☆ I shopped at Amazon Fresh to see why it's struggling. I found hyped discounts, odd displays, and bad coffee.
▼ + stars: | 2023-09-04 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

It's been three years since Amazon introduced Amazon Fresh, its second chain of supermarkets. I visited an Amazon Fresh store in Maryland to see what might be rubbing consumers the wrong way. The latest example of that challenge came in early August, when Amazon said it would revamp some of its Amazon Fresh supermarkets, according to Bloomberg Businessweek. It has also canceled some Amazon Fresh store openings. Are you an Amazon Fresh employee with a story idea to share?

Persons: It's, Amazon's, Amazon, Molly McWhinnie, it's, we'll, McWhinnie Organizations: Amazon, Service, Bloomberg Businessweek, Washington Post Locations: Maryland, Wall, Silicon, Washington, U.S

☆ The earnings and economic data shows the consumer is still in control of the economy
▼ + stars: | 2023-08-23 | by ( Tim Mullaney | ) www.cnbc.com time to read: +9 min

Moody's says that consumer savings rates are rising after bottoming out in June 2022. "We still see it as a normalization, not a deterioration story when we talk about consumer credit.'' But consumer loan delinquency rates are at 2019 levels, and below any level ever seen before 2014, according to Federal Reserve data. At JPMorgan, mortgage credit quality is so solid that the bank reported no net chargeoffs in the second quarter. Overall, the Bureau of Economic Analysis says consumer spending on new vehicles rose $40 billion to $642.4 billion in the first half of the year, with most gains coming in the second quarter.

Persons: Brandon Bell, Arun Sundaram, haven't, Alastair Borthwick, Moody's, Scott Hoyt, Jeremy Barnum, it's, Barnum, David Fieldhouse, Hoyt, Sundaram, Horton, Goldman Sachs, Goldman Organizations: Chevrolet, Knapp, Getty, Amazon, Walmart, Home Depot, Bank of America, CFRA, Atlanta Federal Reserve Bank, JPMorgan Chase, Federal Reserve, JPMorgan, Federal, Wall, General Motors, GM, Ford, U.S, Toll, Pride Locations: Houston , Texas

☆ Whole Foods is attracting extreme couponers who are sharing tips on TikTok for saving money at the supermarket once known as 'whole paycheck'
▼ + stars: | 2023-08-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Extreme couponers are posting tips on TikTok for saving money at Whole Foods. One user said she cut her bill from about $58 to less than $13 using discounts. While she saved a few dollars using a Prime membership, M_adisen saved $23.49 using discounts from Ibotta and another $18.71 from Aisle, another company that offers discounts on specific products. A video from user fitwithshelle highlights products that she purchased using discounts at Whole Foods, including vegan ice cream and a coconut smoothie. The cuts have primarily targeted often-purchased grocery items such as produce.

Persons: M_adisen, doonydoesstuff, they've, It's Organizations: Foods, Service, Amazon, Dollar, Walmart, kiwis, Austin, Wall Street Locations: Wall, Silicon

☆ New DoorDash customers are turning to the app for grocery deliveries and flowers, not just restaurant meals
▼ + stars: | 2023-08-09 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

DoorDash is seeing a surge in non-restaurant orders from new customers, including grocery and flower deliveries. The delivery company has 100,000 retail stores on its app, surpassing Instacart's 80,000 merchants. The company said more new customers are turning to the app for non-restaurant orders as DoorDash has grown its retail selection to more than 100,000 stores. In July, online grocery sales dropped 7% to $7.2 billion compared to July 2022 , according to the latest monthly Brick Meets Click/Mercatus Grocery Shopping Survey. Driving the downturn was delivery sales, which decreased 13.3% to $2.6 billion , according to the July survey released August 9.

Persons: Tony Xu, DoorDash, Xu, Grubhub, Uber, It's, Petco, Staples, Brittain Ladd, Instacart, confidentially Organizations: Service, Albertsons, Aldi, Target, Walgreens, Dollar Locations: Wall, Silicon, Stanford, PetSmart, North America

☆ Amazon reports Q2 results today: Here's what you need to know
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon reports Q2 results today: Here's what you need to knowMichael Morton, analyst at SVB MoffetNathanson, joins 'Squawk on the Street' to discuss Morton's thoughts on the grocery business at Amazon, the higher margin businesses for Amazon, and the outlook for AWS.

Persons: Michael Morton Organizations: Amazon

☆ Amazon Fresh grocery chain has struggled. See its stores of the future
▼ + stars: | 2023-08-03 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon has faced challenges getting shoppers to buy groceries in its Amazon Fresh grocery stores and recently laid off workers — but it’s betting a new strategy and redesigned stores will be the answer to its struggles. An Amazon Fresh redesigned grocery store. Amazon has paused its Amazon Fresh store expansion plans. Meanwhile, Amazon Fresh grocery stores are targeted at lower- and middle-income customers and function as full-size grocery stores. Amazon had big plans to grow Amazon Fresh stores, but it has paused store expansion.

Persons: ” Neil Saunders, “, Andy Jassy, “ We’ve Organizations: New, New York CNN, Amazon, GlobalData, Amazon Fresh Locations: New York, Chicago, Boston, Denver, Austin, United States

☆ Amazon opens Fresh grocery delivery to people without Prime
▼ + stars: | 2023-08-02 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is opening up its Fresh grocery delivery service to people without Prime in select U.S. cities. Last week, Amazon cut some jobs at Fresh grocery stores. And earlier this year, amid mounting costs, Amazon said it would start charging delivery fees on Fresh grocery orders under $150, removing an earlier perk that guaranteed Prime members free delivery on orders over $35. It hopes to roll out Fresh delivery for non-Prime members nationwide, and include products from Whole Foods and other grocers, Amazon executives told Bloomberg. Correction: The revamped format for Amazon's Fresh stores is rolling out at a location in Oak Lawn, Illinois.

Persons: Andy Jassy Organizations: Foods, Fresh, Amazon, Bloomberg Locations: San Francisco, Boston, Nashville , Tennessee, Austin , Texas, Oak Lawn , Illinois

☆ Amazon cuts jobs at Fresh grocery stores
▼ + stars: | 2023-07-26 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is cutting some jobs at its Fresh grocery stores, CNBC has confirmed. The company said it's restructuring the in-store staffing and operations model at its Amazon Fresh stores in the U.S., and as a result is eliminating its "zone lead" role. Amazon has been determined to crack the grocery segment since the launch of its Fresh delivery service in 2007. Earlier this year, Amazon said it would close some Fresh and Go stores as part of CEO Andy Jassy's effort to rein in costs. The job cuts at Amazon Fresh come after the company initiated its most expansive layoffs in its history, eliminating roughly 27,000 employees since late last year.

Persons: Jessica Martin, we've, Andy Jassy's, Jassy Organizations: CNBC, Amazon, Washington Post, D.C, Foods Locations: U.S, Washington

☆ Kroger CEO is confident about Albertson's deal despite FTC merger crackdown
▼ + stars: | 2023-07-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Kroger CEO Rodney McMullen discussed the company's proposed merger with rival grocery chain Albertson's with CNBC's Jim Cramer, saying he's confident about the deal despite the Federal Trade Commission's recent crackdown on mergers. The rival grocers announced their plans to merge in October, proposing a $24.6 billion deal. McMullen said he thinks the government will approve the merger, saying it will only benefit customers and employees. The merger would allow the companies to capture nearly 16% of the U.S. grocery market, according to market researcher Numerator. Kroger is currently the second-largest grocer by market share in the United States, behind Walmart , and Albertsons is fourth, after Costco, Numerator also shows.

Persons: Rodney McMullen, CNBC's Jim Cramer, McMullen, We've, we'll Organizations: Federal Trade, Kroger, Walmart, Albertsons, Costco Locations: United States

☆ Amazon Fresh is laying off hundreds of store workers
▼ + stars: | 2023-07-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Amazon Fresh is cutting hundreds of store jobs, according to the Washington Post. Amazon has paused Fresh openings and closed some stores over the past year. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyJust under three years after it opened its first store, Amazon Fresh is laying off hundreds of workers. Amazon touted a discount of up to 25% for Prime members at Amazon Fresh this past Prime Day. Are you an Amazon Fresh employee affected by the layoffs or have a story idea to share?

Persons: Jessica Martin, we've, Martin, Andy Jassy, Jason Buechel Organizations: Washington Post, Service, Workers, Post, Amazon, Amazon Fresh, Foods Locations: Wall, Silicon

☆ Stocks making the biggest moves before the bell: General Motors, 3M, Spotify, Verizon and more
▼ + stars: | 2023-07-25 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

General Motors — Shares of General Motors rose more than 1% after the automaker raised its full-year guidance and reported second-quarter results that rose on a year-over-year basis. 3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. The company also raised its full-year earnings guidance and reaffirmed its revenue guidance. The airline's full-year earnings guidance of $5.50 to $7.50 per share was roughly in-line with the average analyst estimates of $6.65, according to FactSet. Verizon — The telecommunications giant traded 2.6% higher after reaffirming its full-year guidance.

Persons: Danaher, FactSet, Lilium, Refinitiv, Piper Sandler, Edward Yruma, —, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Tanaya Macheel Organizations: General Motors, Xerox, FactSet, General, GE, Spotify, European Union Aviation Safety Agency, Alaska Air, Raytheon, Refinitiv, Verizon, Walmart Locations: Alaska

☆ Walmart can rally more than 30% as it gains grocery market share, Piper Sandler says
▼ + stars: | 2023-07-25 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Walmart has a chance to grow its market share in the grocery business, which could boost the stock in a big way, according to Piper Sandler. The firm upgraded the retail giant to overweight from neutral Monday and raised its price target to $210 per share from $145. Analyst Edward Yruma said the company will benefit as grocery inflation eases, allowing it to take more market share in the space. Walmart stock has climbed more than 12% in 2023. WMT YTD mountain Walmart stock has added more than 12% from the start of the year.

Persons: Piper Sandler, Piper, Edward Yruma, Yruma, — CNBC's Michael Bloom Organizations: Walmart

☆ Amazon used 11.6% less plastic for shipping last year and is phasing out those blue and white plastic mailers
▼ + stars: | 2023-07-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +3 min

Amazon used nearly 86,000 tons of single-use plastic packaging last year, an 11.6% drop. Amazon is also ditching its blue and white padded plastic mailers in favor of easier-to-recycle paper packaging. Oceana for several years has tried to put numbers on how much plastic Amazon is using. Oceana's analysis for 2021 found Amazon used about 709 million pounds of plastic packaging — some 355,000 tons. Amazon said it used less plastic in 2022 by expanding packaging made with recyclable paper across the US, Canada, and Europe.

Persons: —, Matt Littlejohn, Littlejohn, Oceana Organizations: Amazon, Service, Oceana Locations: Oceana, Canada, Europe, Australia

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