Food and Staples Retailing Food Retail

  • NAIROBI, Jan 18- Privately-owned Nakumatt, Kenya's biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said on Wednesday. Nakumatt, which started with a single store in Nairobi in 1992, operates 68 outlets in Kenya and...

  • HONG KONG, Jan 18- China's supermarket chain operator Yonghui Superstores Co Ltd said it would team up with Bain Capital Private Equity to buy U.S. retail services group Daymon Worldwide Inc for $413 million. Yonghui will invest $165 million for a 40 percent stake in Daymon, while Bain Capital will buy 60 percent, the Chinese firm said in a statement late on Tuesday.

  • LONDON— The rate of inflation in Britain has soared to its highest level in 2 ½ years as the fall in the pound begins to hit consumers at the grocery store. That puts inflation at the highest level since July 2014, though it remains below the Bank of England's target of 2 percent. But pressure has been increasing on retailers as the pound's value dropped by a fifth...

  • NEW YORK, Jan 15- Twice a day, Scott Ozawa's Bluetooth-enabled toothbrush tells his dental insurer if he brushed for a full two minutes. "It's not expected today, but in the near future it will be used to penalize people," said Mitchell Wein at Novarica Inc, who advises clients on insurance technology. Insurers recognize the dangers but consumers have nothing to fear,...

  • NEW YORK, Jan 15- Twice a day, Scott Ozawa's Bluetooth-enabled toothbrush tells his dental insurer if he brushed for a full two minutes. "It's not expected today, but in the near future it will be used to penalize people," said Mitchell Wein at Novarica Inc, who advises clients on insurance technology. Insurers recognize the dangers but consumers have nothing to fear,...

  • West Des Moines- based Hy-Vee says a milk powder ingredient used in chocolate coating has the potential for contamination and the candy's manufacturer, Palmer Candy Co., announced a recall of some of its products. It includes chocolate almond bark, chocolate almond pretzels, dazzled peanut brittle, holiday candy trays and others fully listed on the FDA recall...

  • Nutella maker pushes back on cancer link claims

    The company that makes Nutella is fighting claims the chocolate and hazelnut spread can cause cancer.

  • LONDON, Jan 12- Britain's biggest department store John Lewis said it would invest heavily in its business this year in response to the accelerating shift to online shopping, after it reported a 2.7 percent rise in underlying Christmas sales. The John Lewis Partnership, which also owns the upmarket Waitrose supermarket, said even though it expected profit to be...

  • OLYMPIA, Wash.— A proposed measure in Washington state would allow wine lovers to fill reusable containers known as growlers from taps at grocery stores, wine boutiques and other places licensed to sell wine in the state. Oregon currently has a law allowing growler purchases at wineries, but no other states have passed or proposed a bill that would extend sales...

  • Stocks to Watch: January 11, 2017

    Supervalu, Ford, and Boeing stocks are making headlines this Wednesday morning on Wall Street.

  • LONDON, Jan 11- Britain's Sainsbury's beat forecasts for Christmas trading in its core supermarket business and was upbeat on prospects for its newly acquired Argos general merchandise division after that also surpassed expectations. Sainsbury's, Britain's second biggest supermarket chain, joins fourth-ranked Morrisons in reporting...

  • The pan-European STOXX 600 index was up 0.2 percent, while blue-chip FTSE 100 hit a record high of 7,289.79, up 0.2 percent, and was headed for the best winning streak in its history. "The FTSE has not exploded higher, it has inched higher," said Michael Hewson, CMC Markets analyst. "UK supermarkets seem to be in rude health following bullish statements from both...

  • LONDON, Jan 11- European shares steadied on Tuesday in early deals, with retail stocks back in focus after a well-received update from British grocer Sainsbury, though Cobham tanked. The pan-European STOXX 600 index was flat in percentage terms, as was the blue-chip FTSE 100, which held close to a record high of 7,284.81 points reached in the previous session.

  • LONDON, Jan 11- Sainsbury's, Britain's second biggest supermarket, beat forecasts for underlying sales in its Christmas quarter and said it was well placed to deal with the pressures it faces this year. Sainsbury's, which last year bought Argos-owner Home Retail to improve its online logistics and general merchandise range, said sales at stores open over a year...

  • LONDON, Jan 11- Sainsbury's, Britain's second biggest supermarket, on Wednesday beat forecasts for underlying sales in its Christmas quarter and said it was well placed to deal with the pressures it faces in 2017.. The firm, which last year purchased Argos-owner Home Retail, said sales at stores open over a year rose 0.1 percent, excluding fuel, in the 15 weeks to Jan....

  • *Japan's consumer prices fall for nine straight months. TOKYO, Jan 11- Aeon Co posted a 51 percent jump in its third-quarter operating profit as brisk business at supermarkets, drug stores and discount outlets helped the biggest retailer by sales in Japan offset losses at its general merchandise stores. Operating profit for quarter ended Nov. 30 was 13 billion...

  • LONDON, Jan 11- Sainsbury's, Britain's second biggest supermarket, on Wednesday beat forecasts for underlying sales in its Christmas quarter and said it was well placed for 2017.. The firm, which last year purchased Argos-owner Home Retail, said sales at stores open over a year rose 0.1 percent, excluding fuel, in the 15 weeks to Jan. 7, its fiscal third quarter.

  • A deliveryman working for a McDonald's fast food restaurant in Beijing on January 9, 2017.

    McDonald's sale of its China and Hong Kong operations raises numerous concerns about worker conditions, an American labor union has warned.

  • Chipotle stock rises on improving sales

    The burrito chain reported a smaller drop in same-store sales during the fourth quarter.

  • LONDON, Jan 10- British supermarket Morrisons raised its profit forecast on Tuesday after enjoying its strongest sales growth in seven years over the Christmas 2016 period, while industry data showed market leader Tesco was also a festive winner. Britain's overall grocery market sales grew 1.8 percent in the 12 weeks to Jan. 1, the fastest growth since June 2014,...