All articles tagged with #supermarkets
Supermarket leaders in the UK warn that potential tax hikes could lead to higher food prices, amid ongoing inflation driven by global factors and domestic tax policies, with industry lobbying for tax relief to help keep prices affordable ahead of the upcoming Budget.
Albertsons has terminated its $25 billion merger with Kroger following a federal judge's decision to block the deal, and has filed a lawsuit against Kroger for breach of contract. The merger, which aimed to combine two of the largest U.S. grocery chains to better compete with Walmart and Amazon, faced opposition from unions, small grocery stores, and political leaders concerned about corporate consolidation. The Federal Trade Commission also opposed the merger, citing potential consumer price increases. Despite the collapse, both companies' stocks rose, with Albertsons announcing a $2 billion share buyback.
A U.S. District Judge in Oregon has blocked Kroger's $25 billion bid to acquire Albertsons, citing concerns from the Federal Trade Commission about reduced competition and potential harm to consumers and workers. The ruling is a setback for Kroger, which argued the merger was necessary to compete with major retailers like Walmart and Amazon. The decision is seen as a victory for the Biden administration's aggressive stance against monopolistic mergers.
Stop & Shop plans to close underperforming stores in the coming years as part of a four-year strategy to strengthen its brand and market position. The company, which has nearly 400 stores in the northeast, including 125 in Massachusetts, has not yet disclosed which locations will be affected. The decision follows a review of its portfolio and aims to ensure long-term health and growth.
A government-commissioned report in Australia recommends imposing hefty fines on major supermarkets, such as Woolworths and Coles, if they breach a proposed mandatory code of conduct when dealing with suppliers, rejecting calls to give regulators the power to break up the big chains. The report suggests fines of up to A$10 million or 10% of revenue for non-compliance and aims to make the code tougher and more compulsory, with meaningful penalties and a more independent dispute resolution process. The final report is due in June, and the government is seeking ways to address the cost of living crisis and improve competition in the grocery sector.
European supermarkets are clashing with major suppliers over "shrinkflation," with Carrefour removing PepsiCo products from its shelves while E.Leclerc, France's largest supermarket chain, has decided to continue stocking them. The move comes after a battle over rising prices and product shrinkage, with Carrefour taking a more aggressive stance and E.Leclerc opting for a more passive approach in negotiations with suppliers. The issue of price rises, attributed to supply-chain shocks and profiteering, has come under scrutiny, with pressure mounting on suppliers to lower prices as inflation falls back toward central bank targets.
On New Year's Day 2024, most banks, USPS offices, stock markets, and New Jersey Motor Vehicle Commission locations will be closed, while many supermarkets, restaurants, and stores will be open with varied hours. There will be no regular mail delivery except for Priority Mail Express. NJ Transit, PATH, and SEPTA will operate on a Sunday schedule. Shoppers and diners are advised to check specific hours for local supermarkets, chain restaurants like McDonald's and Starbucks, and stores like Walmart and Home Depot. Online deals and sales are also highlighted for those looking to shop on the holiday. The next federal holiday after New Year's Day will be Martin Luther King Jr. Day on January 15.
Retail sales in the UK dropped by 1.2% in July, with wet weather affecting summer clothing sales and rising living costs impacting food shoppers. The Office for National Statistics (ONS) reported a particularly challenging month for supermarkets, as sales volumes fell by 2.6%. Department stores also experienced falling demand for household goods. Compared to pre-pandemic levels, total retail sales were 16.4% higher in value but 1.8% lower in volume. Economists had expected a smaller decline in sales, and with inflation still high and consumer confidence falling, the outlook for overall spending remains uncertain. However, online retailers saw a boost in sales as shoppers stayed home due to the rain.
Honolulu police have issued a warning to the public after credit card skimmers were discovered at self-checkout registers in supermarkets across the island. The skimmers, which are attached to actual card readers, scan credit and debit card information when a card is used. The devices can be difficult to spot but can be identified through visual and physical inspection. Authorities advise checking for alignment issues between the card reader and the panel underneath it, comparing the card reader to others nearby, and looking out for any differences. Employees should be notified of any tampered terminals, and affected individuals should contact their credit card companies and monitor their accounts for fraudulent activity.
UK supermarkets including Tesco, Sainsbury's, Asda and Morrisons will face a parliamentary committee examining the cost of a weekly shop. MPs will question senior supermarket bosses about food and fuel price inflation, asking if prices will come down this year. The Competition and Markets Authority is examining the issue of high food prices. Supermarkets deny they are profiteering from high prices and claim their profits are being squeezed. The grocers say they are cutting prices where they can, arguing falls in commodity prices take time to filter through to the consumer.
Most major supermarket chains in New Jersey will be open on Juneteenth 2023 with regular or reduced hours, including Walmart, Wegmans, Whole Foods, Stop & Shop, and ShopRite. However, shoppers should check with their local store for specific information on opening and closing hours as it can vary by location.
Supermarkets play music to lift the mood of shoppers, making their decision-making on shopping items more intuitive rather than needs-based. Shoppers tend to buy as much as 10% more when music is played in the store during a tough workweek, but only purchase what they need on Fridays and the weekend. The positive power of music is less noticeable on weekends when people are essentially happier. Playing music when people are shopping on the weekend may even mean people buy less, possibly because it adds more stress to an already busy environment.
Most supermarkets and pharmacies will be open on Memorial Day, but store hours may vary. Government services such as schools, courts, post offices, libraries, and city halls will be closed. Parks and beaches will be open in Miami-Dade and Broward counties. Some malls will be open from 11 a.m. to 8 p.m. Transit schedules will vary, with Miami-Dade’s Metrorail and Metromover running on their normal weekend schedules and Broward Transit operating on a holiday service schedule.
UK supermarkets have said that the rise in food prices will ease soon as global food prices have dropped. However, the retail industry body has said that there is a three to nine-month lag to see price falls reflected in shops. Inflation fell to 10.1% in the year to March from 10.4% in February, driven by food prices rising at their fastest rate for 45 years. The UK has faced problems such as Brexit red tape, labour shortages, and bad weather abroad, leading to shortages of some vegetables. The Bank of England has been raising interest rates to try and curb inflation.
Some major supermarket chains in New Jersey will remain open on Easter Sunday (April 9, 2023) with varying hours, while others will be closed. Acme, BJ's, Foodtown, ShopRite, Trader Joe's, Walmart, Wegmans, and Whole Foods are among those that will be open. Some retailers are also offering sales during Easter. Shoppers should check with their local supermarket for specific information.