EUROPE: The grocery market in Central Europe will have grown to £88bn (102.8bn) by the end of the year on the back of improved economic conditions, according to a report by research and consulting company PMR. Last year, the economy negatively affected the entire grocery market in the region, with the market slumping nearly 13% to £86bn (100.4bn). Poland was the only country to report increased grocery retail sales, up 1.7%.
BELGIUM: Delhaize has posted a 10.2% increase in third-quarter net profits to £120m (140m) as the decline in its US market eased and Belgium and Greece generated solid growth. Sales at US stores fell 1.8% in the quarter versus a 3.6% fall in the second quarter. Meanwhile, third-quarter revenues of Delhaize Belgium rose 2.8% to £1.03bn (E1.2bn) with the help of new store openings. Its Greek subsidiary Alfa Beta posted a "resilient" third quarter with revenue growth of 5%, driven by promotional activity and store openings.
SCANDINAVIA: Majority Ahold-owned food retailer ICA has reported a 9% increase in net income to £59m (SEK644m) for the nine months to 30 September. Operating income, excluding capital gains, rose 29% to £206.6m (SEK2,238m). ICA Norway's store sales fell due to continued price and promotional activity, which dampened margins, along with the conversion of the group's Rimi stores.
"Our priorities will be sales activities in terms of price investments on all our markets to strengthen competitiveness, own-label development and cost controls," said ICA president and CEO Kenneth Bengtsson.
ASIA: Second-round bids for the south east Asian assets of Carrefour have ended with Tesco and Singapore's Dairy Farm in advanced talks. Carrefour is offloading stores in Malaysia, Singapore and Thailand so it can focus on its leading positions in key markets.
CANADA: Loblaw's parent company George Weston has acquired Ace Bakery, a manufacturer and supplier of artisan and European-style rustic bread varieties, for £68m (CAD$110m).
"Our priorities will be sales activities in terms of price investments on all our markets to strengthen competitiveness, own-label development and cost controls," said ICA president and CEO Kenneth Bengtsson.
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