Whether you are an entrepreneur looking to better understand how your retailers are faring in the online space or a retailer looking to up your digital game, here are four main takeaways about the state of U.S. digital grocery, according to L2 researchers.
The big box retailer announced today that it has agreed to acquire Shipt, Inc., a leading online same-day delivery platform, for $550 million in cash. The acquisition strengthens Target’s position as a major competitor in the online grocery space.
In previously scheduled appearances, Sprouts CFO Brad Lukow presented at the Jefferies 2017 Global Consumer Conference Tuesday and Kroger CFO Michael Schlotman addressed investors at the Oppenheimer Annual Consumer Conference Wednesday. Schlotman addressed investors again during Thursday’s annual shareholders meeting. Though their talks didn’t focus on Amazon’s Friday announcement that the online retailer is acquiring Whole Foods for $13.7 billion, that didn’t keep the elephant out of the room.
During the Cincinnati-based retailer’s Q1 earnings call on Thursday, before the Whole Foods sale was announced, Kroger CEO Rodney McMullen said earnings would be about nine percent lower than initially forecast due to new investments in pricing and service, as well as margin pressure. The retailer’s stock price plunged 19 percent on Thursday as a result of the struggles, then — similar to other retailers– fell another 13 percent Friday once the Whole Foods deal was done. The market slowly began rebounding late Monday morning.
The handy service – currently piloting at eight Hawthorn Suites hotels in and around Chicago, Ill.; Philadelphia, Penn.; Raleigh and Charlotte, N.C.; Hartford, Conn.; and Orlando, Fla. – is the brand’s newest offering developed to help long-term guests maintain their routines when away from home.
With consumer desire for healthy and natural items firmly solidified, Hy-Vee announced it is ready to expand its HealthMarket to a wider array of its stores. The expansion is part of several corporate restructuring efforts at the company’s West Des Moines headquarters.
An annual health and wellness progress report conducted by Consumer Goods Forum found that 66 percent of reporting companies reformulated products in 2016. But of those companies, roughly 27 percent made their policies regarding nutrition and product formulation public.
Meijer is investing more than $375 million in new and remodeled stores this year across its six-state footprint, President & Chief Executive Officer Rick Keyes announced.
Kings Food Markets (Kings) is excited to unveil its own line of gourmet foods and everyday favorites at an outstanding value. The current offerings focus heavily on organic, healthy and specialty products.