Finances & Deals: Page 12
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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 -
Courtesy of Flashfood
Food waste reduction app Flashfood raises $12.3M
The company plans to use the Series A round to expand its U.S. presence.
By Catherine Douglas Moran • March 1, 2022 -
Courtesy of Weee
Weee raises $425M in latest funding round
The Series E investment boost, led by SoftBank Vision Fund 2, raises the ethnic e-grocer's valuation to $4.1 billion.
By Catherine Douglas Moran • Feb. 28, 2022 -
Permission granted by Sprouts Farmers Market
Sprouts sees comp sales improve and makes executive changes
The specialty grocer appointed Nicholas Konat, former director of food merchandise planning at Target, as president and chief operating officer, and disclosed that Gil Phipps is no longer serving as chief marketing officer.
By Sam Silverstein • Feb. 25, 2022 -
Al Bello via Getty Images
Walmart shrugs off disruption as US comps grow 5.6%
Despite a slowdown in e-commerce and over $400 million in supply chain costs in Q4, the retailer grew its sales and made a pile from non-retail income.
By Ben Unglesbee • Feb. 17, 2022 -
Courtesy of Save A Lot
Save A Lot finishes conversion to wholesale model
The discount food retailer said it will hold onto 18 locations in its home market of St. Louis to test "new innovations and programs."
By Sam Silverstein • Feb. 11, 2022 -
Courtesy of Natural Grocers
How Natural Grocers' health loyalty program is powering growth
The company's {N}power membership grew 20% over the past year and now accounts for nearly three-quarters of its net sales.
By Jeff Wells • Feb. 7, 2022 -
Courtesy of BJ's Wholesale Club
BJ's to buy four refrigerated distribution centers
The acquisition of the facilities from longtime partner Burris Logistics will allow the club retailer to handle its perishable supply chain in-house.
By Sam Silverstein • Jan. 26, 2022 -
Courtesy of Bokksu
Japanese digital food marketplace Bokksu raises $22M
The Series A round, which brings the New York- and Tokyo-based company's valuation to $100 million, will help expand product assortment, fund more original content and bring on more workers.
By Catherine Douglas Moran • Jan. 25, 2022 -
Justin Sullivan via Getty Images
Albertsons' CEO says consumer engagement remains 'strong' amid inflation, but uncertainty looms
Vivek Sankaran said the grocer hasn't seen a major impact in consumption patterns, though it's preparing for a shift if prices rise further.
By Jeff Wells • Jan. 12, 2022 -
Sam Silverstein/Grocery Dive
Foxtrot brings in $100M, plans to open 25 new stores in 2022
The upscale convenience store chain is also testing cashierless technology and looking to triple the size of its engineering team to about 120 people, co-founder and CEO Mike LaVitola said.
By Sam Silverstein • Jan. 11, 2022
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