Tesco has strengthened its market share and maintained its profit guidance for the year

UK: Biggest food price rises in past five years highlighted in report
The savings experts at BravoVoucher analyzed data from the Office for National Statistics on average food item prices from March 2019 to March 2024 to identify which items have seen the biggest price increases. Cucumber has risen from £0.66 to £0.93, an increase of 41%. Broccoli has increased by 33 percent and onions by 29 percent. The fruit that has recorded the biggest price increase is blueberries, by 24%, while bananas have increased by 19%.
Source: talkingretail.com

FairPrice is selling M’sia durians for S$1.95 each over 2 weekends
FairPrice’s Annual Durian Fair will be back on June 14, featuring durians for S$1.95. The promotion will only be available at two outlets for the following dates: FairPrice 212 Bedok North Street 1 from June 14 to June 16; FairPrice Kangkar Mall from June 21 to June 23. The promotion is also limited to the first 300 customers each day with a maximum purchase of two durians per customer.
Source: mothership.sg

UK: Tesco board faces heat over £10m CEO pay package
The board of Tesco, Britain’s biggest supermarket group, will be asked to justify chief executive Ken Murphy’s pay package of around 10 million pounds ($13 million) when it faces shareholders at its annual meeting .
Source: reuters.com

Germany: Greenman OPEN bought a 60 million euro portfolio of EDEKA supermarkets
Greenman OPEN has acquired a portfolio of 10 independent EDEKA supermarkets with a total leasable area of ​​c. 22500 m2. The retail properties are located in the federal states of Saxony, Bavaria and Thuringia. The deal, known as the Chase portfolio, includes a long-term sale and leaseback arrangement.
Source: europe-re.com

Spain: El Corte Inglés reports a 5.4% increase in full-year revenue
El Corte Inglés has closed its 2023-2024 financial year with a 5.4% increase in annual revenue to 16.3 billion euros. Of this total, El Corte Inglés’ retail business generated €12.85 million, marking an increase of 3.8% compared to last year. The Spanish retail company saw ‘strong growth’ in the food and hospitality segment, which includes El Corte Inglés supermarkets, Hipercor, Supercor and Sánchez Romero banners, as well as Gourmet Club and various restaurant formats.
Source: esmmagazine.com

Agri-food overview: from market to business
According to Clark Meng, global sourcing manager of JD.com, a major player in Chinese e-commerce, “selling fresh produce online will be crucial in the future.” With a smartphone in hand, he gave a live demonstration of how easy it is to buy fresh fruit online in China.
Source: globaltimes.cn

UK: M&S Food invests over £1m in bespoke food donation for redistribution
Marks & Spencer has announced it is investing over £1 million in a brand new way to tackle food poverty. From September, M&S will send specially developed products to FareShare to distribute through its national network. Developed by M&S chefs, the vegetable curry, carrot and coriander soups and family-sized pizzas use surplus ingredients from the retailer’s existing supply chain that might otherwise go to waste, such as fresh vegetables.
Source: corporate.marksandspencer.com

UK: Tesco increases market share and sales in Q1
Tesco has strengthened its market share and maintained its profit guidance for the year as it reported a 4.6% rise in UK core sales for the first quarter. As a result, the UK’s biggest grocer has maintained its forecast for adjusted retail operating profit of at least £2.8bn for 2024/25, down from £2.76bn in 2023/24.
Source: retailgazette.co.uk

Ireland: Co. Kerry School wins SuperValu Let’s GROW initiative
Nagle Rice National School in Killorglin, Co. Kerry, has been announced as a winner of the Grow it Yourself (GIY) initiative and SuperValu’s Let’s GROW 2024. Pupils at Nagle Rice National School created a sensory garden entitled ‘Tadgh’s Garden’ in memory of a past pupil. The garden features flowers, water features, a colorful mural and grown produce including cucumbers, radishes, garlic, tomatoes and peppers.
Source: agriland.ie

USA: Harris Teeter to open supermarket in Greater Savannah area
Harris Teeter has announced that its new Lady’s Island store in Beaufort, South Carolina, will open on Tuesday, June 25. Located at 163 Sea Island Parkway, approximately 40 miles outside of Savannah, The Lady’s Island Harris Teeter will feature expanded organic and specialty produce, fresh fruit and a soup and salad bar.
Source: progressivegrocer.com

US: Hy-Vee closes 3 stores in Iowa, offering opportunities for affected communities
After hearing concerns from community leaders and residents about the impact of closing its three Iowa stores, Hy-Vee is offering several solutions to ease the transition for these communities. The food retailer will permanently close First Avenue Hy-Vee in Cedar Rapids, its Logan Avenue store in Waterloo and its Rockingham Road store in Davenport on June 23.
Source: progressivegrocer.com

US: Austin’s new Radius Butcher & Grocery to focus on Texas perishables
A former tech investor and an artisan butcher are teaming up to open a new grocery store that will sell meat, dairy, seafood and produce sourced exclusively from Texas. Radius Butcher & Grocery, which is taking over a space currently occupied by an Austin, Texas butcher shop and restaurant called Salt & Time, is expected to open later this year. Plans call for Radius to offer a curated variety of local meats, organic produce, grains, eggs, cheeses and wild-caught Gulf seafood, with a focus on artisanal production and sustainability.
Source: supermarketnews.com

Meati Foods takes a hit in alt meat IP dispute with The Better Meat Co; the judge criticizes the firm’s ‘sandbags’ and ‘cheats’
The judge handling a protracted IP dispute between meat startup Meati Foods and The Better Meat Co (BMC) has ruled largely in BMC’s favor, dismissing Meati’s claim to BMC’s patents and charging Meatin for “inexplicable”, “sandbagging” and “fraud” tactics.
Source: agfundernews.com