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Food and Beverage Food and Staples Retailing

  • NEW YORK, May 10- More than half of the directors on Whole Foods Market Inc's board will step down, a person familiar with the matter said on Wednesday, in a dramatic shake-up at the grocery chain as it grapples with a sagging stock price and frustrated investors. The move comes after Jana Partners took an 8.3 percent stake in the company and nominated four directors...

  • SANTIAGO, May 10- Pharmacies in Chile's capital Santiago will start selling cannabis-based medicines this week, the first time such treatments have been offered by drug stores in Latin America, the companies behind the launch said on Wednesday. Chile legalized the use of medical marijuana in 2015 and is among a number of Latin American countries gradually...

  • The move comes after Jana Partners took an 8.3 percent stake in the company and nominated four directors to serve on the board. Jana Partners and a spokesman for Whole Foods were not immediately available for comment. Jana's director nominees are former Gap Inc Chief Executive Glenn Murphy, former Harris Teeter Supermarkets CEO Thomas "Tad" Dickson and former...

  • PYONGYANG/ SEOUL, May 8- From carrot-flavoured toothpaste and charcoal facemasks to motorcycles and solar panels, visitors to North Korea say they are seeing more and more locally made products in the isolated country's shops and supermarkets, replacing mostly Chinese imports. The majority of consumer products in North Korea still come from China.

  • CHICAGO, May 4- Central Grocers Inc, a wholesale grocery cooperative in the Chicago area, filed for bankruptcy on Thursday as it tried to close or sell businesses after struggling to adapt to consumer shifts to online and gourmet shopping and "big box" stores. Central Grocers, with about $2 billion in annual sales, said it had a plan to close its distribution business,...

  • May 4- Starbucks Corp said on Thursday it would expand its loyalty rewards program at grocery stores to include more products, as it seeks to win more customers amid a soft retail and restaurant environment in the United States. Seattle- based Starbucks, which launched its rewards program in 2009, made changes to it last year, which irked some customers and caused...

  • BERLIN, May 4- Amazon launched deliveries of fresh groceries in Berlin and neighbouring Potsdam on Thursday for members of its Prime subscription service, a move that could accelerate online sales of food that have been sluggish in Germany so far. Amazon said in a statement that Prime members can choose from 85,000 products, including items such as chocolate,...

  • *Pretax profit 581 million pounds in year to March 11. LONDON, May 3- British supermarket Sainsbury's warned a challenging market meant it could take up to five years to deliver sustainable profit growth, despite a robust performance from general retailer Argos which it bought last year. Shares in Sainsbury's were down 5 percent at 265.5 pence at 1034 GMT, valuing...

  • LONDON, May 3- British supermarket Sainsbury's on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year's purchase of Argos, the general merchandise retailer. Sainsbury's, which trails market leader Tesco in annual sales, also cautioned that it saw no let-up in the intensely competitive UK market...

  • LONDON, May 3- British supermarket Sainsbury's on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year's purchase of Argos, the general merchandise retailer. Sainsbury's, which trails market leader Tesco in annual sales, made an underlying pretax profit of 581 million pounds in the year to March 11.

  • The a2 Milk Company has been responding fast to changing distribution patterns and supporting Chinese government regulations, says CEO Geoff Babidge.

  • *Q1 adj EPS $1.17 vs est $1.10. May 2- CVS Health Corp reported a bigger-than-expected quarterly profit as higher margins in its pharmacy business helped offset the loss of major contracts last year. Same-store prescription volumes fell 460 basis points in the first quarter due to the loss of contracts to fill prescriptions for Tricare, a U.S. Department of...

  • Same-store sales at the front-end of stores, where the company sells beauty products, snacks and over-the-counter drugs, also fell 4.9 percent in the first quarter ended March 31. Net income attributable to CVS fell to $952 million, or 92 cents per share, in the first quarter ended March 31, from $1.15 billion, or $1.04 per share, a year earlier. Interest expense fell...

  • May 2- Drugstore chain and pharmacy benefits manager CVS Health Corp reported a 17 percent drop in quarterly profit, as it filled fewer prescriptions at its pharmacies and lower traffic hurt sales at the front-end of its stores. Net income attributable to CVS fell to $952 million, or 92 cents per share, in the first quarter ended March 31, from $1.15 billion, or $1.04...

  • April 20- Central Grocers Inc, a supplier to independent grocery stores in the Midwestern United States, is considering a bankruptcy filing as one possible option as it struggles with its debt, according to people familiar with the matter. Central Grocers is working with law firm Weil Gotshal& Manges LLP, investment bank Peter J. Solomon Co, and consultants from...

  • LONDON, April 19- Sainsbury's, Britain's second largest supermarket group, is aiming to for a slice of the growing "Athleisure" casual sports clothing market through a partnership with U.S. brand Russell Athletic, it said on Wednesday. The deal with Russell Athletic, part of Berkshire Hathaway's Fruit of the Loom Inc, will put the U.S. company's men's and women's...

  • April 19- Canadian grocery and pharmacy retailer Loblaw Cos Ltd said on Wednesday it would sell its gas station business to asset manager Brookfield Business Partners LP for about C $540 million.

  • *Top retailers cut prices to attract shoppers. TOKYO, April 14- Naruhito Nogami, a 37- year-old systems engineer in Tokyo, drives to discount stores on weekends to bulk buy cheap groceries, even though he earns enough to make ends meet and the prospects for Japan's economic recovery are brighter. Kazuko Sato, a 50- year-old animation artist, also frequents discount...

  • *Average forecast was 21.2 billion euros. PARIS, April 13- French supermarket retailer Carrefour reported higher first-quarter revenue, slightly above the consensus market forecast, and maintained its full-year sales growth outlook. Carrefour, the world's second-biggest retailer after Wal-Mart Stores Inc, said first-quarter sales had risen 6.2 percent...

  • PARIS, April 13- French supermarket retailer Carrefour reported higher first-quarter revenues, slightly above the consensus market forecast, and maintained its full-year sales growth outlook. Carrefour, which is the world's second-biggest retailer, said group first-quarter sales had risen 6.2 percent at current exchange rates to 21.3 billion euros as...