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☆ What is Prime, Logan Paul and KSI's energy drink, and what is the controversy around it?
▼ + stars: | 2023-07-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +7 min

New York CNN —For being less than two years old, Prime energy and sport drinks are already enduring a major growth spurt. Prime’s portfolioThe duo’s first drink, Hydration, is a Gatorade-like sports drink that mixes coconut water and electrolytes, without sugar or caffeine. In 2013, a Senate panel held a similar hearing with top energy drinks. “It will be interesting to see how the Prime crew alters their pitch, or the branding on the energy drink to move it away from potential confusion with the sports drink, if there’s a hearing,” he said. Meanwhile, Prime Energy has raked in around $42.5 million this year, according to Circana data given to BevNet.

Persons: Logan Paul, Olatunji, Paul, KSI “, ” Paul, “, Chuck Schumer, Schumer, Energy “, haven’t, ”, ” Schumer, Bull, ” Jeffrey Klineman, BevNet, Duane Stanford, that’s, Klineman, it’s, hasn’t Organizations: New, New York CNN, YouTube, Gatorade, Aldi, Walmart, CVS, Target, Food and Drug Administration, Energy, ” Prime Energy, FDA, American Academy of Pediatrics, Senate, CNN, Los Angeles Dodgers, UFC, FC Barcelona soccer, Beverage Digest, Pepsi, Coca Cola, Prime Energy Locations: New York, United Kingdom

☆ With home improvement projects down, it’s Ikea’s moment
▼ + stars: | 2023-07-08 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

Over the next three years, it plans to open eight large stores and nine smaller “plan and order points,” where customers can chat with design consultants and order products. “We see endless opportunities to grow” in the US, Tolga Öncü, head of Ikea Retail for the Ingka Group, Ikea’s Dutch holding company, said in a statement at the time. After splurging on home improvement projects during the pandemic, consumers are pulling back. Home improvement retailer Lowe’s lowered its profit and sales outlook for the year in May, saying consumers were spending less on home improvement. Ikea, which is not publicly traded, reported that its retail sales rose by 6.5% in fiscal year 2022, but didn’t post quarterly results.

Persons: ”, Michael Brown, Spencer Platt, Tolga Öncü, Karl Zimmermann, “, Sucharita Kodali, Forrester, “ they’re, Zimmermann, Paul Bersebach, Marisa Ortega, splurging, Ethan Allen, ” Ortega, —, Anna Cooban, David Goldman, Nathaniel Meyersohn, Parija Kavilanz Organizations: New, New York CNN, Ikea, Ikea Retail, Ingka, Bain, MediaNews, Orange, Register Locations: New York, Aldi, Long Beach , California

☆ Sainsbury's says UK food inflation falling as sales rise
▼ + stars: | 2023-07-04 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies Q1 like-for-like sales up 9.8%Says has returned to volume growthKeeps profit guidance for full yearLONDON, July 4 (Reuters) - Sainsbury's (SBRY.L), Britain's second largest supermarket group, said on Tuesday food inflation was starting to fall as a return to volume growth helped power a 9.8% rise in quarterly underlying sales. The group, which has a 15% share of Britain's grocery market, also maintained guidance for a 2023-24 underlying pretax profit of 640-700 million pounds ($812-$888 million) versus 690 million pounds in 2022-23. "Food inflation is starting to fall and we are fully committed to passing on savings to our customers," Sainsbury's CEO Simon Roberts said, pointing to 60 million pounds in lower prices since March. Last month, market leader Tesco (TSCO.L), reported a 9% rise in first-quarter underlying UK sales and said food inflation had peaked. While the UK government has raised concerns about the surge in food prices it says it is not considering imposing price caps.

Persons: Simon Roberts, James Davey, Sarah Young, Paul Sandle, Jason Neely Organizations: Aldi, Tesco, Thomson Locations: Britain, Sainsbury's, Europe

☆ Dollar General is testing Amazon-style tech that lets customers leave without checking out
▼ + stars: | 2023-06-29 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Dollar General is testing cashierless checkout technology at a store in North Carolina. Customers at a Dollar General store in Banner Elk, North Carolina, don't have to stand in line or deal with a self-checkout kiosk at the end of their visit. Dollar General, though, is working with AiFi, a startup that has developed its own technology and partners with retailers. "Consistent with our ongoing strategy to continually look for new ways to meet our customers' value and convenience needs, we recently piloted a store with frictionless technology," Dollar General told Insider. Dollar General has faced labor shortages.

Persons: —, AiFi, Frank Beard, Beard, Alex Bitter Organizations: Service, Dollar, Amazon, Foods, Aldi, Carrefour Locations: North Carolina, Banner Elk , North Carolina, Washington ,, New York, San Francisco, Seattle, French

☆ DoorDash is changing how it pays its 13 million gig drivers – and will let customers boost tips after delivery
▼ + stars: | 2023-06-28 | by ( Nancy Luna | ) www.businessinsider.com time to read: +4 min

New features include giving customers the ability to edit tips after the delivery is complete. The company is also giving its gig workers the choice to earn their pay per hour, instead of by delivery order. Customers can add or increase a tip for drivers on the app up to 30 days after delivery. At DoorDash, consumers won't be able to reduce tips after delivery, the company said. DoorDash is also launching SNAP benefits for online payments for grocery delivery with brands such as Safeway, Albertsons, Meijer, Aldi, and 7-Eleven.

Persons: —, Rajat Shroff, DoorDash's, Shroff, Austin Haugen, Uber, Sergio Avedian, DoorDash, Cody Aughney, Aughney Organizations: Service, Consumers, Logistics, Dasher & Logistics, Safeway, Albertsons Locations: DoorDash, Los Angeles, Canada, Australia, Meijer, Aldi

☆ Online's share of UK grocery market dips as heat pushes shoppers to stores
▼ + stars: | 2023-06-27 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies Online was 10.4% of total UK grocery market in JuneStores saw extra 34 mln visits year-on-yearM&S is fastest growing grocer after discountersLONDON, June 27 (Reuters) - Online's share of Britain's grocery market slowed further in June as hot weather encouraged shoppers to visit stores for drinks and refreshments, industry data showed on Tuesday. Online's share of the total grocery market in Britain was about 7% before COVID-19. "It’s no surprise that online grocery sales have taken a bit of a hit as there was less of a need to order in a big grocery shop." Total grocery sales rose 12.4% over the four weeks, with sales in the week to June 17 hitting 2.9 billion pounds - the second strongest week this year behind Easter. Marks & Spencer's (MKS.L) sales rose 15.4%, keeping its spot as the fastest growing after the discounters.

Persons: NIQ, Mike Watkins, NIQ’s, Kantar, James Davey, Aurora Ellis Organizations: LONDON, Aldi, Lidl, British Retail Consortium, Thomson Locations: Britain

☆ Wealthy shoppers keep flocking to Aldi and dollar stores and say there's no longer any stigma, report says
▼ + stars: | 2023-06-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Wealthy shoppers are increasingly turning to discount stores like Aldi, Dollar Tree, and Dollar General. This is because of inflation, improved product quality, and changing attitudes to discount stores. Morgan Pierce, who The Journal reported earns about $200,000 a year working at McDonald's corporate office in Chicago, visits Aldi and dollar stores for staples. People who The Journal spoke to said that the idea of shopping at discount stores was no longer as stigmatized. Soaring inflation during 2021 and 2022 combined with better-quality budget products and a rising number of brand-agnostic shoppers have all helped to push wealthier shoppers to discount stores.

Persons: —, Morgan Pierce, I'm, Pierce, Rick Dreiling, Kelly Dilts, Bob Gillman, Bethenny Frankel, It's, Dreiling Organizations: Service, Wall Street, Aldi, Dollar, YouTube, Housewives, New Locations: Aldi, Chicago, New York City

☆ UK grocery inflation edges lower for third straight month -Kantar
▼ + stars: | 2023-06-20 | by ( James Davey | ) www.reuters.com time to read: +2 min

Market researcher Kantar said annual grocery inflation was 16.5% in the four weeks to June 11, down from 17.2% in its May data set. Prime Minister Rishi Sunak's key pledge to halve inflation in 2023 has been undermined by persistently high food inflation. "Price rises are now being compared to the increasing rate of grocery inflation seen last summer, which means that it should continue to fall in the coming months," he said. Market leader Tesco (TSCO.L) said on Friday food inflation was starting to ease and it was hopeful it would moderate through the year. The Kantar data for June provides the most up to date snapshot of UK grocery inflation.

Persons: Kantar, Rishi Sunak's, Fraser McKevitt, Price, James Davey, Cynthia Osterman Organizations: Reading, Bank of England, Tesco, Aldi, Lidl, Thomson

☆ Tweeters are pointing out that a neurosurgery role in London pays about the same as an Aldi store manager
▼ + stars: | 2023-06-18 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Tweeters pointed out an apparently low salary range for a surgeon in London. An NHS Trust is advertising for a neuro-oncology fellow paying as little as £33,790 (about $43,000). One tweeter pointed out that an Aldi manager can make £50,000 (about $64,000) right out of college. The National Health Service (NHS) is hiring a neuro-oncology fellow at the Barts Health Trust in central London. According to data from the Bureau of Labor Statistics, neurologists in the US can expect an annual salary of about $255,000.

Persons: Tweeters, — Organizations: Service, National Health Service, Barts Health Trust, Twitter, British Medical Association, Government, Sky News, BMA, Bureau of Labor Statistics, neurologists Locations: London, Barts

"We do believe that we're past the peak inflation," CEO Ken Murphy told reporters. Prime Minister Rishi Sunak's key economic pledge to halve inflation in 2023 has been undermined by persistent high food inflation, which was running at over 19% in April, according to the most recent official data. Murphy warned though that while some commodity prices were coming down, higher labour costs which are feeding into inflation are likely to stick. Tesco has said it expects prices to rise in 2023 but with the rate of inflation declining through the year. Reporting by James Davey and Sarah Young; editing by Kate Holton and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Ken Murphy, Rishi Sunak's, Murphy, James Davey, Sarah Young, Kate Holton, Jason Neely Organizations: Tesco, Britain's, Aldi, Thomson

☆ Aldi is turning off lights in its UK stores to try to save customers money
▼ + stars: | 2023-06-13 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Aldi UK will be turning off lights across all of its store locations this month. The move follows a trial earlier this year, in which the discount retailer tried turning off some lights in four stores, according to The Telegraph. Initially founded in West Germany, Aldi has since expanded outside of its founding country to the tune of more than 12,000 stores across the US, UK, France, and Australia. Cutting down on energy costs is not exactly new in Europe, as energy prices have risen due to the war in Ukraine. Update: June 13, 2023 — This story was updated to clarify the lights aren't being turned off in Aldi's US stores.

Persons: — Organizations: Aldi, Service, . Discount, Telegraph, The Telegraph, Aldi UK, European Central Bank Locations: West Germany, France, Australia, Europe, Ukraine, Germany, Austria, Portugal, Denmark

☆ People are spending more on groceries. But they’re buying less
▼ + stars: | 2023-06-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.

Persons: that’s, ”, Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, “, Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, —, Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, ”, Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York

☆ Aldi is turning off lights in its stores to try to save customers money
▼ + stars: | 2023-06-06 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Aldi will be turning off lights across all of its store locations this month. The move follows a trial earlier this year, in which the discount retailer tried turning off some lights in four stores, according to The Telegraph. Initially founded in West Germany, Aldi has since expanded outside of its founding country to the tune of more than 12,000 stores across the US, UK, France, and Australia. Cutting down on energy costs is not exactly new in Europe, as energy prices have risen due to the war in Ukraine. Around 800 bakeries in Germany went dark in September 2022, while still serving customers, to protest rising power cost.

Persons: — Organizations: Aldi, Service, Telegraph, The Telegraph, European Central Bank Locations: West Germany, France, Australia, Europe, Ukraine, Germany, Austria, Portugal, Denmark

☆ Here's everything you need to know about Lidl, the German discount chain that's struggling to keep up with Aldi's rapid US growth
▼ + stars: | 2023-06-04 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Lidl opened 450 stores in Germany in just 15 yearsA Lidl store in Nuremberg, Germany, in 1998. Shortly after, it opened stores elsewhere in Europe, including Italy in 1992 and the UK in 1994. In 2006, the retailer launched Lidl Asia, a sourcing arm for the company which has more than 1,000 employees across Hong Kong, China, and Bangladesh. Lidl launched its online store in 2009. Lidl is part of the Schwarz Group, alongside sister company Kaufland, a hypermarket chain launched by Schwarz in the 1980s.

Persons: Lidl, Claus Felix, Josef Schwarz, Dieter Schwarz, Schwarz, Josef, Kaufland Organizations: Getty, Lidl, Bloomberg, Schwarz Locations: Germany, Nuremberg, Ludwigshafen, Mundenheim, France, Europe, Italy, Asia, Hong Kong, China, Bangladesh, Lidl Northern Ireland, Neckarsulm

☆ UK supermarket Asda to buy petrol stations operator EG Group UK
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: +1 min

British supermarket group Asda said it would buy petrol station operator EG Group's UK and Ireland business to accelerate its move into the convenience sector, creating a company with combined revenues of nearly 30 billion pounds ($38 billion). Asda, Britain's third-largest grocer, and EG are both owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital. The deal, which includes around 350 petrol stations and over 1,000 food-to-go locations, values EG at 2.27 billion pounds, including debt, the groups said on Tuesday. 2 supermarket and the deal will enable it to roll out Asda Express across the EG petrol estate. Since the Issa brothers bought Asda in 2021, 166 EG sites have already been converted to the "Asda on the Move" format.

☆ UK's Asda to buy EG petrol stations unit in $2.9-bln deal
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +2 min

Asda, Britain's third-largest grocer, and EG are both owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital. The unit of around 350 petrol stations and over 1,000 food-to-go locations will be valued at 2.27 billion pounds. The deal will help spur Asda in its drive to overtake Sainsbury's (SBRY.L) and become Britain's No. 2 supermarket as it rolls out the Asda Express across the EG petrol estate. The Issa brothers bought Asda in 2021 and have already converted 166 EG sites to the "Asda on the Move" format.

☆ Dollar Tree shares plunge after company misses on earnings, slashes full-year profit outlook
▼ + stars: | 2023-05-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Dollar Tree, which runs its namesake banner and Family Dollar, has been in the midst of a turnaround after shuffling up its executive leadership and raising prices. While other value-oriented retailers, such as TJ Maxx , have seen promising results this retail earnings season, Dollar Tree has fallen short. Even with the companies low prices, Dollar Tree shoppers have been focusing their spending on essential items, which carry lower margins, over discretionary purchases.

☆ ‘Greedflation’ loosens its grip on food retailers
▼ + stars: | 2023-05-24 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

Big food manufacturers like Kraft Heinz (KHC.O) and Unilever (ULVR.L) are ratcheting down the price rises they have been inflicting onto supermarket chains. If food retailers can convince cash-strapped customers to skimp less and pay more, their profit margins will finally start growing. Last week, the country’s food retailers opened negotiations on prices with manufacturers like Coca-Cola (KO.N) and Unilever as food inflation surged to over 15% in March. Food manufacturers can certainly do more. Meanwhile, food inflation remained high at 19.1% in April versus 19.2% in March.

☆ Trader Joe’s reveals why it still refuses to offer grocery pickup or delivery, even as fans beg the chain for online options
▼ + stars: | 2023-05-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Trader Joe's has avoided offering delivery or pick-up orders for decades. According to an episode of Trader Joe's podcast, released on Monday: A combination of cost and company culture. Trader Joe's shoppers have been asking for the chain to provide delivery for years. Walmart has also expanded its grocery delivery capabilities, hiring drivers and offering unlimited deliveries for members of its own subscription program. Avoiding delivery and pick-up is just one way that Trader Joe's has kept its costs low.

[1/3] Packaged food for sale is seen on shelves at a Dollar Tree in Islandia, New York, U.S., May 12, 2023. Razor manufacturer Edgewell Personal Care Co (EPC.N) and Kraft Heinz Co (KHC.O) have overhauled or built new teams dedicated to working with the biggest U.S. dollar stores like Dollar Tree Inc (DLTR.O) and Dollar General Corp (DG.N) in the last year. Makers of food and household staples are pushing deeper into dollar stores because the low-cost retailers are opening thousands of locations each year. Griffin added that dollar stores are also introducing more "premium" private label brands, like Dollar General's Nature's Menu for pets. Kraft-Heinz also created a new team of five people late last year to identify and develop products for dollar stores, a spokesman said.

☆ Target wants shoppers to think of it for groceries as retailer braces for leaner spending
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

The big-box retailer also hopes by drawing shoppers for essentials like gallons of milk, it can nudge purchases of discretionary items that shoppers otherwise would not have bought. A 'Tarzhay' spin on groceriesOn a recent trip to a Minneapolis area grocery store, Gomez surveyed displays of colorful fruits and vegetables. In each of the past two fiscal years, Target has had double-digit sales growth in the food and beverage category. Target's grocery sales matter more as shoppers pull back in other areas. Grocery competition gets tougherCompetition for grocery shoppers has heated up, especially as consumers stretch their budgets.

☆ Here's why Trader Joe's will never embrace online shopping: 'The experience would not be the same'
▼ + stars: | 2023-05-16 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Don't expect to be able to order a block of Trader Joe's Unexpected Cheddar or a bag of Chili & Lime rolled corn chips to your door any time soon. The latest episode of the popular supermarket's in-house podcast, "Inside Trader Joe's," explains why the chain doesn't offer online shopping like competitors Aldi, Publix and Kroger, and is instead happy to keep running its business the way it has since it was founded in 1967. Building out a robust delivery operation would involve creating a network of warehouses to store products, as well as a delivery system to get those products to customers' doors. For a brand that closely watches its bottom line to keep prices low, it's a non-starter. "We love being a real place for a whole bunch of reasons and not just because it's where we started," co-host Matt Sloan said.

☆ Trader Joe's long-time CEO and the brains behind the 19-cent banana announces his retirement
▼ + stars: | 2023-05-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Trader Joe's CEO Dan Bane will retire in July, the grocery store chain said on Monday. "I take great pride that together we have made Trader Joe's the best grocery store in America," Bane said, according to Trader Joe's. With Bane's retirement will come the promotion of Bryan Palbaum to Chairman and CEO and Jon Basalone to Vice CEO, Trader Joe's said. Under Bane, Trader Joe's stuck to a leaner operating strategy than most other US grocery stores. California-based Trader Joe's is owned by the same family who owns Aldi Nord, a German chain of discount grocery stores.

☆ Beyond Burgers are popping up at Dollar Tree at $1.25 a pack, as the plant-based meat giant tries to boost sales
▼ + stars: | 2023-05-05 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Beyond Meat products are appearing at Dollar Tree stores, according to shoppers on social media. One Instagram user posted a video showing several trays, each containing two Beyond Burger patties, in the frozen food section of a Dollar Tree store. Another Dollar Tree shopper, this time on TikTok, reported finding six-packs of Beyond's Breakfast Sausage patties in addition to burgers at one of the retailer's stores. "Those burgers are normally nine bucks in Target," the user says after showing viewers her receipt from Dollar Tree. Early results from those trials indicated that consumers bought more of Beyond's products when prices were lower, he said.

☆ Spain's drought has pushed olive oil prices to a 26-year high — and they're expected to stick
▼ + stars: | 2023-05-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

When renowned Spanish-American chef José Andrés tweeted that eggs should be fried in olive oil a finger deep, one user commented: "Olive oil can be expensive at a finger deep. "Aldi olive oil spread used to 99p. According to data from the International Monetary Fund, global olive oil prices have hit $5,989.8 per metric ton, marking a 26-year high. The outbreak of war in Ukraine, which created a global shortage in sunflower oil, pushed up the demand for olive oil even more. "The outbreak of war in Ukraine, which created a global shortage in sunflower oil, pushed up the demand for olive oil even more," he added.

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