Finances & Deals: Page 11
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Courtesy of Gopuff
Gopuff lands former Disney CEO Bob Iger as investor and advisor
The instant delivery company said it is tapping into Iger's experience leading an organization focused on building relationships with consumers.
By Sam Silverstein • May 18, 2022 -
Courtesy of Walmart
Walmart's profits take a hit as fuel spikes and consumers react to inflation
As costs continue rising, the retailer is strategically raising and rolling back prices as it seeks market share and profit.
By Ben Unglesbee • May 17, 2022 -
Courtesy of The Fresh Market
South American retailer to buy majority stake in The Fresh Market for $676M
The deal with current owner Apollo Global Management will let Cencosud acquire 67% of the specialty grocer.
By Jeff Wells , Catherine Douglas Moran • Updated May 11, 2022 -
Jessica Dumont/Grocery Dive
Grocery Outlet raises full-year guidance, will expand e-commerce coverage
CEO Eric Lindberg said during Tuesday's earnings call that the discount grocer plans to introduce Uber Eats and DoorDash delivery to a subset of stores following a successful online rollout with Instacart.
By Catherine Douglas Moran • May 11, 2022 -
Retrieved from Apple on February 22, 2022
Food Rocket plans to offer 15-minute delivery from Chicago convenience store
The ultrafast grocery delivery startup intends to co-locate a fulfillment center with a Circle K location set to open this summer and plans to expand to additional cities this year.
By Sam Silverstein • May 10, 2022 -
Permission granted by Sprouts Farmers Market
Sprouts lowers its outlook for the year as unit sales decline
CEO Jack Sinclair said the company sees ways to boost baskets amid rising gas and food prices, but analysts aren't sold on the plan.
By Jeff Wells • May 5, 2022 -
Thai Phi Le/Grocery Dive
Publix sees sales and earnings rise in Q1
The Florida-based supermarket chain recorded a comparable store sales increase of 11.7% for the first quarter of 2022 on a year-over-year basis, as revenue for the period rose 13.5% to $13.2 billion.
By Sam Silverstein • May 3, 2022 -
Courtesy of Food Rocket
Rapid grocery delivery startup Food Rocket raises $25M, links with Circle K
The company plans to use the funding to expand to new markets, bolster its proprietary technology and work alongside the convenience store chain on e-commerce.
By Catherine Douglas Moran • April 27, 2022 -
Retrieved from Tony's Fresh Market on April 20, 2022
Tony's Fresh Market sold to Apollo Global Management
The private equity firm is taking control of the Chicago-based specialty grocery chain, which has been family owned since its founding in 1979.
By Sam Silverstein • April 20, 2022 -
Justin Sullivan via Getty Images
Albertsons' CEO sees loyalty as 'next phase' of business transformation
The grocer's loyalty program now has 30 million members, and the company hopes to deepen engagement across its digital and store initiatives, Vivek Sankaran told investors on Tuesday.
By Catherine Douglas Moran • April 12, 2022 -
Courtesy of Save Mart
Save Mart taps former Albertsons marketing chief as executive chairman
In an interview, Shane Sampson said the newly acquired regional grocery chain plans to be "nimble and agile" and that new private equity owner Kingswood Capital Management understands retail.
By Sam Silverstein • April 5, 2022 -
Permission granted by Sprouts Farmers Market
Sprouts ties new loan terms to sustainability goals
The health-focused grocer will incur lower borrowing costs under the revolving credit facility if it achieves targets for the sale of socially and environmentally sustainable products and the diversity of its board of directors.
By Sam Silverstein • March 28, 2022 -
Courtesy of The Save Mart Companies
Save Mart bought by private equity firm
The acquisition of the grocery company, which runs roughly 200 stores under the Save Mart, Lucky California and FoodMaxx banners in California and Nevada, marks the latest sale of a regional grocery chain.
By Catherine Douglas Moran , Jeff Wells • March 28, 2022 -
Permission granted by Instacart
Instacart's Road to IPOInstacart slashes its valuation by nearly 40%
The move comes amid a significant slowdown in growth on its core marketplace and follows its expansion into new technology services for retailers.
By Jeff Wells • March 25, 2022 -
Permission granted by Dollar General
Dollar General bulks up on perishables in Q4 as overall comps wilt
Sales penetration across the discount retailer's frozen and refrigerated categories has grown to 9%, driven by its DG Fresh self-distribution initiative.
By Sam Silverstein • March 18, 2022 -
Courtesy of Boxed
Boxed targets B2B sales, technology services for growth
In its first public earnings report, the e-tailer noted sluggish results for its retail operations but expressed optimism for its business sales and tech services.
By Jeff Wells • March 17, 2022 -
Courtesy of AiFi
AiFi raises $65M as retailers sharpen focus on computer vision
The frictionless checkout technology provider plans to use the funds, which it raised from investors including Aldi South Group, to expand its technical staff and put its gear into stores faster.
By Sam Silverstein • March 14, 2022 -
Courtesy of United Natural Foods, Inc.
UNFI raises full-year guidance as it weathers supply chain challenges
Sales to Whole Foods and independent grocers increased by double digits in the company's Q2, but supply chain pressures continue to impact the business.
By Jeff Wells • March 10, 2022 -
Scott Olson via Getty Images
Retail tech provider Swiftly raises $100M
The company, which helps drive digital shoppers to grocery stores, plans to expand its workforce by about 50%, said Chief Technology Officer Sean Turner.
By Sam Silverstein • March 9, 2022 -
Courtesy of Buyk
Buyk halts service due to financing roadblock
Unable to access funds from its Russian founders, the U.S.-based ultrafast delivery service has furloughed workers and stopped serving customers until it lines up U.S. funding sources.
By Catherine Douglas Moran • March 8, 2022 -
Courtesy of Kroger
Kroger's stock price soars after Q4 results and 2022 guidance beat projections
The grocer's better-than-expected comps and earnings guidance raised its stock price to its highest level in more than a year and indicated it still has plenty of room to grow in 2022.
By Jeff Wells • March 3, 2022 -
Jessica Dumont/Grocery Dive
Grocery Outlet sees a brighter future amid inflation, supply chain woes
One-stop shopping behaviors have stemmed the company's growth during much of the pandemic, but executives say the chain is resonating with increasingly price-conscious shoppers.
By Catherine Douglas Moran , Jeff Wells • March 2, 2022 -
Thai Phi Le/Grocery Dive
Publix boosts capital budget for 2022
The Southeastern chain expects to spend $2 billion this year on new stores and other projects, a 55% increase over the nearly $1.3 billion it invested in 2021.
By Jeff Wells • March 2, 2022 -
Courtesy of Target
Target rides traffic boost to 19th straight quarter of growth
CEO Brian Cornell said that rises in comparable sales and other strong performance numbers were "proof our strategy is working."
By Ben Unglesbee • March 1, 2022 -
Sam Silverstein/Grocery Dive
Albertsons could sell off underperforming banners, analyst says
As the supermarket chain announced its intention to weigh "strategic alternatives," Arun Sundaram with CFRA Research said selling off stores would help it better compete in omnichannel retailing.
By Sam Silverstein • March 1, 2022
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