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Financials

Retailers

Costco sees start of e-commerce improvement in Q4

 By Russell Redman on Sep. 27, 2023

CFO Richard Galanti hints that membership fee hike is coming but gives no timeline.

Wholesalers & Distributors

UNFI closes out fiscal 2023 with disappointing 4th quarter

 By Russell Redman on Sep. 26, 2023

The Q4 net loss was accompanied by lower sales growth, including a 2% decrease in the distributor’s supermarket retail business.

Retailers

Costco added $15B to top line in fiscal 2023

By Russell Redman on Sep. 26, 2023

E-commerce sales dipped again in fourth quarter and finished the year down 5.7%.

Wholesalers & Distributors

UNFI refreshes board and plans financial review of company

By Russell Redman on Sep. 26, 2023

Grocery distributor enters cooperation agreement with JCP Investment Management to bolster corporate governance and help drive its transformation strategy.

Retailers

Report: Rite Aid could close 400-500 stores under pending bankruptcy

By Russell Redman on Sep. 25, 2023

In talks on a Chapter 11 plan, the drug chain has proposed selling or allowing creditors to assume its remaining operations, according to the Wall Street Journal.

Retailers

Non-traditional grocery retailers pose ‘existential threat’ to supermarkets

By Russell Redman on Sep. 21, 2023

Mass chains—and Amazon—have siphoned market share from conventional grocers over the past 20 years, an analysis from Solomon Partners’ Scott Moses revealed.

Technology

Instacart closes up 12% in Wall Street debut

By Heather Lalley on Sep. 20, 2023

The grocery tech company surged in early trading but faltered by day’s end, finishing its first day as a public company with a valuation just over $11 billion.

Technology

Instacart sets IPO at $30 per share

By Heather Lalley on Sep. 19, 2023

That’s the high end of the grocery tech firm’s range, bringing in $660 million during the company’s Wall Street debut.

Retailers

Sobeys ‘off to a good start’ with strong 1st quarter, CEO says

By Russell Redman on Sep. 15, 2023

Executives cited expansion of Voilà online grocery delivery business and Scene+ loyalty program.

Technology

Instacart bumps up its IPO per-share price to $28 to $30

By Timothy Inklebarger on Sep. 15, 2023

The updated share price also increases the delivery tech company's valuation to $9.3 billion to $9.9 billion as it now seeks to raise up to $660 million in its initial public offering.

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