By Reuters Staff
2 Min Read
May 13 (Reuters) - Grupo Comercial Chedraui said on Thursday its unit would buy warehouse store business Smart & Final Holdings Inc for $620 million, including debt, as the Mexican grocer looks to expand its footprint in the United States.
Private equity firm Apollo Global Management Inc is selling Smart & Final to Grupo Comercial Chedraui’s (GCC) subsidiary Bodega Latina Corp.
The deal is expected to close in the second or the third quarter, pending U.S. and Mexican regulatory approvals and other customary closing conditions.
Apollo acquired reut.rs/33NQebr Smart & Final in 2019 for about $1 billion and sold reut.rs/2QiSFQo its warehouse unit last year for $970 million to US Foods Holding Corp.
4 Min Read
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NEW YORK, May 14 (Reuters) - Wall Street ended higher at the close of a broad rally, an upbeat conclusion to whipsaw week of buying and selling as signs of a rebounding economy did battle with mounting inflation jitters.
All three major U.S. indexes built on Thursday’s gains, which saw S&P 500 notch its biggest one-day percentage bump in over a month.
“Today ‘everything is going up day’ because everyone is buying,” said Chuck Carlson, senior vice president at Wealthspire Advisors, in New York. “It’s a ‘buy everything’ day.”
Shares of Seven & i Holdings surged to a two-year high on Thursday after Reuters reported activist investor ValueAct Capital took a stake in the Japanese owner of the 7-Eleven chain, signalling a potential shake-up at the retail giant.
By Reuters Staff
(Adds details on forecast)
May 5 (Reuters) - Canadian retailer Loblaw Cos Ltd beat market estimates for quarterly revenue and profit on Wednesday, as its online sales more than doubled on soaring demand from homebound buyers for groceries and other essentials during the COVID-19 pandemic.
Lockdowns and other virus-related restrictions in Canada, including reduced store capacity, during the first three months of the year pushed consumers to stockpile groceries and other essential items.
Loblaw, one of the biggest retailers in Canada, said that the momentum from the first quarter has continued into the current quarter, adding that it expects to exceed its own full-year profit expectations.
By Reuters Staff
2 Min Read
WARSAW, April 26 (Reuters) - Poland’s consumer watchdog fined Portuguese retail group Jeronimo Martins more than 60 million zlotys ($16 million) for labelling fruit and vegetables as grown in Poland when they were imported, it said on Monday.
The regulator UOKiK said consumers who made “patriotic” choices had been misled, at a time when the government has been encouraging Poles to buy Polish products to support the economy during the coronavirus crisis.
Jeronimo Martins, the owner of the Biedronka supermarket chain, said it would appeal the decision, saying it had “serious reservations” about the evidence gathered by the regulator.