Financial news: Page 2
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Grocery sales fall slightly in October but stay well above 2019 cadence
Consumer spending on groceries continues at the calmer month-to-month pace that began in May, the Census Bureau reported.
By Sam Silverstein • Nov. 17, 2020 -
Walmart sales gains slow in Q3 as visits drop and basket sizes rise
The number of transactions at the retailer declined 14.2% during the quarter while average ticket size rose 24%.
By Ben Unglesbee • Nov. 17, 2020 -
DoorDash launches IPO
The food delivery company's initial public offering stock price is expected to range between $75 and $85 per share.
By Julie Littman • UPDATED: Nov. 30, 2020 at 9:04 a.m. -
SpartanNash sees sales and comp store growth subside in Q3
The grocer intends to make adjustments to its sagging military business, according to new CEO Tony Sarsam.
By Sam Silverstein • Nov. 12, 2020 -
Grocery Outlet sees slower comp sales growth in Q3, looks ahead to fleet expansion
The discount grocer, known for its "treasure hunts," is on track to open 34 stores this year and sees room to add 1,500 more.
By Sam Silverstein • Nov. 11, 2020 -
Ahold Delhaize lays out omnichannel updates to keep 2020 growth going long term
As it logged another strong financial quarter, the company announced new digital services and a 100% increase in online capacity.
By Jeff Wells • Nov. 04, 2020 -
Nestlé buys Freshly, valuing meal delivery firm at $950M
The world's largest food manufacturer, which purchased a stake in the upstart in 2017, can bring its deep knowledge of customer trends, R&D capability and portfolio of brands to the meal kit delivery business.
By Christopher Doering • Oct. 30, 2020 -
Blue Apron yo-yos again with Q3 customer losses
The meal kit company rebounded when the pandemic hit, but its latest earnings report revealed operational struggles to meet demand.
By Jessica Dumont • Oct. 30, 2020 -
Price and meal prep top of mind for retailers rethinking private brands
Over the next two years, roughly one-third of retailers plan to significantly increase investments in private brands as they capitalize on shifting consumer habits brought on by the pandemic, according to FMI.
By Catherine Douglas Moran • Oct. 30, 2020 -
Pandemic fuels blockbuster Amazon Q3 even without Prime Day
But the e-commerce giant seems to have ceded some market share to rivals, which are logging even higher increases in online sales, analysts said.
By Daphne Howland • Oct. 30, 2020 -
Sprouts' ID sales growth slows as it stays the course on long-term strategy
The natural foods chain's digital sales increased 337% during the quarter, and it began taking pickup and delivery orders directly through its website and app.
By Sam Silverstein • Oct. 29, 2020 -
As Kroger Restock winds down, questions remain over digital profitability
Executives said the initiative has set the grocer on the right course, and it's gaining market share faster than ever, but a lot still rests on the success of its Ocado tie-up.
By Jeff Wells • Oct. 28, 2020 -
Aldi opening Arizona stores next week as part of US expansion
The discount grocery chain will open two much-anticipated stores in Arizona on Nov. 5 and has at least seven more reportedly in the planning stages in the state.
By Rosie Bradbury • Oct. 26, 2020 -
H-E-B doles out $500 bonus to workers
The pay boost to all full- and part-time employees follows a permanent compensation increase the retailer implemented in June.
By Jeff Wells • Oct. 23, 2020 -
Why Trader Joe's traffic has recovered but Whole Foods' hasn't
Specialty chains were hit hardest by the drop-off in Q2 foot traffic, but some, like Trader Joe's, have been better at adapting to a new "mission-driven" shopper mindset, according to a report from Placer.ai.
By Rosie Bradbury • Oct. 22, 2020 -
Southeastern Grocers formalizes plans to go public as it zeroes in on Winn-Dixie
The grocer is on track to operate 87% of its locations under the Winn-Dixie banner when its store sales are complete.
By Sam Silverstein • Oct. 21, 2020 -
Target gives frontline workers $70M in bonuses ahead of holidays
The retailer is paying $200 to employees as they face an unprecedented and likely stressful shopping season haunted by the coronavirus pandemic.
By Ben Unglesbee • Oct. 20, 2020 -
Acme wins bidding for Kings Food Markets and Balducci's in bankruptcy auction
The Albertsons banner agreed to pay $96.4 million for the two chains, which will continue operating under their own names.
By Sam Silverstein • Oct. 15, 2020 -
Instacart bags another $200M in funding
The latest round, led by existing investors, brings the company's valuation to $17.7 billion as delivery competition ramps up and it reportedly begins exploring an IPO.
By Jessica Dumont • Oct. 09, 2020 -
Walmart sells majority stake in Asda
The sale of the U.K. grocer, which went through numerous hurdles over the past two years, allows Walmart to focus on its digital operations.
By Jeff Wells • Oct. 02, 2020 -
UNFI sales beat estimates as CEO announces retirement
Steven Spinner will join the company's board as executive chairman once it names a successor.
By Jeff Wells • Sept. 29, 2020 -
Fresh Thyme to close 3 remaining Nebraska stores
After opening five stores in four years in the Cornhusker State, the company is now pulling out of the area as it and other specialty grocers make strategic adjustments.
By Jeff Wells • Sept. 28, 2020 -
Zero-waste online grocer raises $3M
Zero Grocery pursued the additional funding amid the COVID-19 pandemic, bringing its total capital raised to $4.7 million.
By Jessica Dumont • Sept. 25, 2020 -
Costco sales jump on strong fresh food demand
Grocery sales have been so strong that the retailer has seen shrink virtually disappear: "We don't have spoilage. We sell out, not literally but almost literally to the piece," CFO Richard Galanti said Thursday.
By Sam Silverstein • Sept. 25, 2020 -
Stop & Shop, Ingles announce new worker bonuses
Ingles will give an extra $300 to full-time associates and $150 to those working part-time, while Stop & Shop is granting payments worth 10% of hours worked between July and August.
By Sam Silverstein • Sept. 25, 2020