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☆ Albertsons, Kroger to divest some stores ahead of merger
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: 1 min

March 14 (Reuters) - Albertsons Companies Inc (ACI.N) said on Tuesday it would divest some stores owned by the company and Kroger Co (KR.N) to obtain the regulatory clearance needed to go ahead with the merger of the two firms. Reporting by Ananya Mariam Rajesh in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Kroger sees annual profit above estimates
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

March 2 (Reuters) - Kroger Co (KR.N) forecast annual profit above Wall Street estimates on Thursday, as the supermarket chain benefits from higher prices, easing cost pressures and steady demand for its groceries and other essentials. Shares of Kroger, which has inked a $25 billion deal to buy smaller rival Albertsons Companies Inc (ACI.N), climbed about 3% in premarket trading. Kroger forecast adjusted earnings per share of between $4.45 and $4.60 for fiscal 2023, while analysts on average expected a profit of $4.20 per share, according to Refinitiv IBES data. Still, the company projected same-store sales growth, excluding fuel, of 1% to 2% in fiscal 2023, below analysts' estimate of a 2.23% increase. Reporting by Deborah Sophia in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Kroger knows every purchase you've ever made – and says it could make millions of dollars selling your data
▼ + stars: | 2023-02-21 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Grocers like Kroger are gathering consumer data and selling it, The Markup reported. Kroger says that selling the data to advertisers could help it realize $1 billion in new profit. But the information, even without names attached, could violate customers' privacy. Both Kroger and Albertsons say that they give aggregate "de-identified" shopper data to their clients. Kroger, for instance, touts its data set on Hispanic consumers, among other "ethnic panels," on the website for its marketing arm.

☆ Household budgets are shredded: These stocks will benefit as consumers trade down to store brands
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

Shoppers are largely creatures of habit, but after two years of rising prices, a broader shift to private label brands is underway. 'A tailwind' for private label That is good news for store brands, otherwise known as private label. Yet the biggest pure play on private label brands is Treehouse Foods , Chappell said. "That's where you're going to see them lean into store brands," said Mary Ellen Lynch, principal of IRI's center store solutions. Americans forced to trade down due to supply chain constraints found store brands they enjoyed, she said.

☆ DoorDash is headed to Super Bowl, pushing its on-demand grocery business again. Here are 7 key moves it is making to dominate retail delivery after conquering restaurants.
▼ + stars: | 2023-02-12 | by ( Nancy Luna | ) www.businessinsider.com time to read: +13 min

In August 2020, DoorDash launched retail delivery with chains like 7-Eleven and Walgreens. Editor's note: On Sunday, DoorDash is airing its second Super Bowl commercial to promote its grocery delivery business. Lately, DoorDash has its sights set on a new prize — dominance in retail and grocery delivery. "We have more retail stores, grocery included, than any other platform in North America today." DoorDashDoubleDashA year after launching grocery delivery, DoorDash introduced DoubleDash.

The stores that Kroger and Albertsons may sell could be worth more than $1 billion, the sources said. Kroger and Albertsons will choose to proceed with the spin-off if they are unable to strike a deal with a potential buyer. Kroger, Albertsons and the FTC declined to comment. Haggen filed for bankruptcy months later and blamed the deal with Albertsons for its demise. Albertsons then agreed to buy many of the Haggen stores back for $300 million.

☆ Corporate Bonds Bounce Back After Horrible 2022
▼ + stars: | 2023-02-08 | by ( Matt Grossman | ) www.wsj.com time to read: 1 min

Supermarket company Albertsons went to the corporate debt market this week with a $750 million junk-rated offering. Corporate bonds have leapt out of the starting gate to begin 2023, a salve to investors who suffered double-digit losses last year. Company bond prices have climbed and their yields have declined, particularly in relation to those on low-risk government notes. That reflects traders’ improving conviction that businesses will withstand any coming economic downturn with limited stress. The gains have erased a portion of last year’s miserable results for fixed-income markets, which cracked many long-held Wall Street strategies for ensuring stability in investors’ portfolios.

☆ Grocery consumers sue to block Kroger’s $25 bln buy of Albertsons
▼ + stars: | 2023-02-03 | by ( Mike Scarcella | ) www.reuters.com time to read: +3 min

Kroger is the biggest grocer in the U.S. by revenue, and Albertsons is the second-largest supermarket chain. Nearly 5,000 grocery stores would be under one corporate umbrella if the deal, announced in October, goes through. A representative for Albertsons declined to comment on Friday, and a Kroger spokesperson did not immediately respond to a message seeking comment. Kroger operates stores under banners including Harris Teeter, Pay Less and King Soopers. U.S. antitrust law lets private consumers sue over proposed mergers and acquisitions, apart from any enforcement action brought by a state or federal agency policing competition laws.

☆ Albertsons-Kroger Deal Spooks Merger Pros
▼ + stars: | 2023-01-18 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Kroger last fall agreed to buy Albertsons, though the deal faces an antitrust review that is likely to focus on local store overlap. Betting on the outcome of a merger or acquisition is always tricky business. That is especially true of supermarket giant Kroger ‘s proposed purchase of rival Albertsons . In October, Kroger agreed to buy Albertsons for roughly $34.10 a share in cash, minus the planned $6.85 special dividend that Albertsons was expected to pay out. That means if everything goes according to plan, Albertsons shareholders can expect to be paid $27.25 a share by Kroger.

☆ Washington court paves way for Albertsons' $4 bln dividend, declines to review case
▼ + stars: | 2023-01-18 | by ( Mike Scarcella | ) www.reuters.com time to read: +2 min

The Washington Supreme Court made the decision after a lower court judge refused last month to issue a preliminary injunction against the dividend. The Washington attorney general's office in November sued to block the dividend, arguing that it would weaken Albertsons before Kroger's $25 billion purchase. The merger proposal will be reviewed by the Federal Trade Commission, which polices merger and acquisition activity for compliance with antitrust law. In a statement, Washington Attorney General Bob Ferguson said his office was "surprised and disappointed the Supreme Court decided not to hear this case." Chief executives of the two grocers in November defended the $25 billion proposed tie-up at a hearing before a U.S. congressional committee.

☆ Retail advertising will make $45 billion this year — here are 3 ways companies like Nordstrom and Albertsons are looking to cash in
▼ + stars: | 2023-01-17 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Many big retailers are building ad businesses this, which Insider Intelligence predicts will be a $45 billion opportunity in the US this year. Leaders from Albertsons and Nordstrom spoke during the panel about how they plan to grab that money. But retailers also need to grow their advertising businesses beyond those companies to so-called non endemic advertisers, like automakers and insurance companies. Argyilan said Albertsons is also working on a tool to help advertisers plug Albertsons' measurement into their broader measurement efforts. "I think measurement needs to grow up quite a bit in retail media space," she said.

☆ Albertsons Sales up 8.5% on Higher Prices
▼ + stars: | 2023-01-10 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Albertsons Cos. sales rose 8.5% in the recently ended quarter as higher prices for food and other household products continue to boost the grocer’s top line. The Boise, Idaho-based supermarket company, which operates its namesake stores as well as the Acme and Safeway chains, said identical sales—a metric that strips out store closings and openings—rose 7.9% in its fiscal third quarter.

☆ Pitch Decks That Advertising Tech Startups Used to Raise Millions
▼ + stars: | 2023-01-10 | by ( Business Insider | ) www.businessinsider.com time to read: +19 min

Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.

☆ Morning bid: Obstacle course ahead
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +6 min

San Francisco Fed President Mary Daly and Atlanta Fed chief Raphael Bostic said they expect Fed rates - now at 4.25% to 4.5% - will need to rise to a 5% to 5.25% range to sap inflation. The other big market obstacle of the week is the onset of the U.S. corporate earnings season. Four American banking giants - JPMorgan (JPM.N), Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N) - report earnings on Friday. Diaried events and data releases that may provide direction to U.S. and world markets later on Tuesday:* U.S. Dec NFIB small business survey. * U.S. Federal Reserve Chair Jerome Powell, Bank of Japan governor Haruhiko Kuroda, Bank of England Governor Andrew Bailey, Bank of Canada governor Tiff Macklem and European Central Bank board member Isabel Schnabel all speak at Swedish central bank event.

☆ An oil historian explains China's impact on a key Russian oil product — which is now trading far below the EU's price cap
▼ + stars: | 2023-01-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In December, a $60-per-barrel price cap was established to limit how much cash Moscow could pull in from oil exports. But the country's key oil product is trading far below that level, which in one sense makes the cap moot. Russian President Vladimir Putin, center, speaks to workers while visiting the Rosneft oil refinery in the Black Sea port of Tuapse, southern Russia. But to Gregory Brew, a Kissinger Visiting Scholar at Yale, rather than being a direct consequence of any sanction measure, the steep discount reflects the easing global market. It isn't about what Russia can produce or how badly it's revenue is impacted by sanctions, but instead the focus should be on what kind of market Russia will be operating in.

Today, there are 54 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

☆ M&A Is Expected to Pick Up in 2023 as Companies Adapt to Tougher Conditions
▼ + stars: | 2023-01-06 | by ( Kristin Broughton | ) www.wsj.com time to read: +8 min

But many companies adapted, structuring deals to sidestep market volatility and minimize financing costs. Deal advisers expect M&A to pick up in 2023 following last year’s slump, though when that will happen remains an open question. That is especially true in the technology and healthcare sectors, where deals for high-growth companies are most common, she said. In addition to macroeconomic pressures, companies faced a tougher regulatory environment in 2022, with antitrust enforcers globally applying greater scrutiny to large transactions. Demand for such facilities in the U.S. jumped 17% in 2022 through Dec. 29 compared with the full-year 2021, to $317.3 billion, according to Dealogic.

☆ Markets rally on signs inflation is abating, as investors look to next week's consumer price data
▼ + stars: | 2023-01-06 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Later in the day, markets were also buoyed by the ISM's nonmanufacturing purchasing managers' index, which said the services industry contracted last month. The next big test will be December's consumer price index report, to be released Thursday. Meanwhile, the fourth-quarter earnings season kicks off next Friday, when the banks – including Club holding Wells Fargo (WFC) – are set to report. On Thursday, the December ADP employment report was released, showing an additional 235,000 jobs, well above the 153,000 expected by analysts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Cramer’s week ahead: Corporate earnings will set the tone for the market
▼ + stars: | 2023-01-06 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Wednesday: KB HomeQ4 2022 earnings release between 4:10 p.m. and 4:20 p.m. Friday: Wells Fargo, Bank of America, JPMorgan Chase, BlackRock, UnitedHealthWells FargoQ4 2022 earnings release at 7 a.m. Bank of AmericaQ4 2022 earnings release at 6:45 a.m. ETProjected EPS: 78 centsProjected revenue: $24.3 billionJPMorgan ChaseQ4 2022 earnings release at 6:45 a.m. BlackRockQ4 2022 earnings release at 6:15 a.m.

☆ Pharmacies can now sell the abortion pill, but you probably won't find it at top chains like CVS, Walmart, or Walgreens anytime soon
▼ + stars: | 2023-01-04 | by ( Ben Tobin | Sarah Braner | ) www.businessinsider.com time to read: +3 min

The FDA authorized retail pharmacies to become certified to carry mifepristone in a ruling Tuesday. Retailers may not sell the abortion pill due to administrative hurdles and backlash, experts say. But don't expect to be able to find the pill at your local Walmart or CVS any time soon. The FDA implemented the regulatory change Tuesday night to allow retail pharmacies to dispense mifepristone to people with a prescription. Insider contacted seven major retail pharmacies to ask whether they plan to sell mifepristone.

☆ Stores and restaurants closed on New Year's Day 2023: Costco, Trader Joe's, Chick-fil-A, and more
▼ + stars: | 2022-12-30 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Costco, Aldi, Sam's Club, and Trader Joe's are among the stores closed on New Year's Day. Chick-fil-A will be closed, as New Year's Day is on a Sunday and the chain doesn't operate Sundays. Stores and restaurants open on the holiday include Walmart, Target, Starbucks, and McDonald's. And some stores, such as Costco, Trader Joe's, and Aldi, will be taking the first day of the new year off. Getty ImagesAcademy Sports + OutdoorsAlbertsonsBarnes & NobleBest BuyCVSDick's Sporting GoodsDollar TreeH-E-BHobby LobbyThe Home DepotIKEAKohl'sKrogerLowe'sMacy'sMichaelsOffice DepotPetcoPublixRite AidSproutsTargetUltaWalgreensWalmartWhole FoodsWhat restaurants are open on New Year's Day 2023?

☆ 14 top ad industry recruiters who are helping companies like Albertsons and IPG find the best talent to help them get through a tough economy
▼ + stars: | 2022-12-29 | by ( Michael Kaminer | ) www.businessinsider.com time to read: +1 min

Even as companies downsize, the demand for ad talent is still surging. As hiring power shifts back to companies, candidates need to actively sell themselves. "When the economy goes south, there is demand for certain kinds of talents," said Gary Stolkin, global CEO of The Talent Business. And talent acquisition itself keeps evolving, recruiters told Insider, with social media platforms like TikTok becoming a valuable tool for both candidates and employers. Here are 14 top industry recruiters advertisers and marketers are turning to fill roles during this uncertain period.

☆ Here's the latest on Amazon's $31 billion ad business, which continues to grow despite the economic upheaval
▼ + stars: | 2022-12-27 | by ( Business Insider | ) www.businessinsider.com time to read: +6 min

Amazon has become the third-biggest digital advertising company behind Google and Facebook, hitting $31 billion in ad revenue in 2021. Under CEO Andy Jassy, Amazon is shaking up its ad business to attract TV ad dollars, especially from advertisers that don't sell their products on its platform. Here's the latest on Amazon's moves to expand its advertising business and the growing competition. Amazon's ad business is big and growingAdvertising is a tiny sliver of Amazon's business, but it's one of the company's fastest-growing areas. Amazon's ad business is booming.

This is why we have seen less activity," said Dirk Albersmeier, co-head of global M&A at JPMorgan. In the fourth quarter, there has been a 56% contraction in global M&A to $641.2 billion, partly caused by a 66% drop in private equity activity. Top rainmakers expect a pickup in cross-border M&A activity. Going forward, private equity funds are expected to kickstart the recovery as they seek assets at a discount. We were probably more optimistic a year ago," said David DeNunzio, global head of M&A at Wells Fargo.

NEW YORK/SAN FRANCISCO, Dec 16 (Reuters) - PepsiCo plans to roll out 100 heavy-duty Tesla Semis in 2023, when it will start using the electric trucks to make deliveries to customers like Walmart and Kroger, the soda maker's top fleet official told Reuters on Friday. PepsiCo is the first company to experiment with the battery-powered Tesla Semis as a way of cutting its environmental impact. When Tesla starts building them, PepsiCo "will rotate those up" into its fleet, he said. PepsiCo declined to share details on the price of the trucks, a figure that Tesla has kept quiet. O'Connell said that a 425-mile (684-km) trip carrying Frito-Lay products brings the Semi's battery down to roughly 20%, and recharging it takes around 35 to 45 minutes.

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