l THE NETHERLANDS: Ahold has reported second-quarter sales lower than expected as growth at Albert Heijn stores slowed and Giant-Carlisle sales were dented by price cuts. Sales climbed to 6.4bn (£5.5bn) from 5.7bn (£4.9bn) in the same quarter last year, the Amsterdam-based company said in a statement, trailing analyst estimates of 6.5bn (£5.6bn). Like-for-like sales at Albert Heijn were up 0.4%, far slower than last quarter's 4.7% growth. In the US, where Ahold makes half its sales, like-for-likes were down 1.8% at Giant-Carlisle. "We had not expected such a slowdown and there is a suggestion that a trading down consumer is spending a little less at Albert Heijn as economic woes have grown," John Kershaw, an analyst at Bank of America wrote in a note to investors.
l SAUDI ARABIA: Saudi-based Savola Group has struck a deal worth SR440m (£71.1m) to acquire the 11 Géant supermarkets in the kingdom. According to Reuters, the deal will enable Savola's retail arm Azizia Panda to increase its share of the Saudi retail market from 7% to 8%, and will reportedly increase the company's turnover by 13%. Savola absorbed one of its competitors last year, buying Giant Stores from private Saudi conglomerate Al-Muhaidib Group.
l CANADA: Loblaw has announced it has bought out T&T Supermarket, Canada's largest Asian food retailer, for $CD225m (£126.2m). $191m (£107.1m) of the purchase price will be funded by cash and the remaining through preferred shares, the value of which will be tied to future performance. "T&T's talented management team and colleagues have developed what we believe are the best Asian stores in Canada, which will be used to help Loblaw extend its ethnic offering," said Galen Weston, executive chairman of Loblaw Companies. T&T Supermarket began operations in 1993 and now operates 17 stores.
l US: Forecourt retailer Kum & Go, which has 430 stores across the Midwest, has started selling fuel for $1.59 (96p), about a dollar less than the average, to celebrate its 50th anniversary.
l SAUDI ARABIA: Saudi-based Savola Group has struck a deal worth SR440m (£71.1m) to acquire the 11 Géant supermarkets in the kingdom. According to Reuters, the deal will enable Savola's retail arm Azizia Panda to increase its share of the Saudi retail market from 7% to 8%, and will reportedly increase the company's turnover by 13%. Savola absorbed one of its competitors last year, buying Giant Stores from private Saudi conglomerate Al-Muhaidib Group.
l CANADA: Loblaw has announced it has bought out T&T Supermarket, Canada's largest Asian food retailer, for $CD225m (£126.2m). $191m (£107.1m) of the purchase price will be funded by cash and the remaining through preferred shares, the value of which will be tied to future performance. "T&T's talented management team and colleagues have developed what we believe are the best Asian stores in Canada, which will be used to help Loblaw extend its ethnic offering," said Galen Weston, executive chairman of Loblaw Companies. T&T Supermarket began operations in 1993 and now operates 17 stores.
l US: Forecourt retailer Kum & Go, which has 430 stores across the Midwest, has started selling fuel for $1.59 (96p), about a dollar less than the average, to celebrate its 50th anniversary.
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