Financial news: Page 2

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