Subscribe Login
Retail Intelligence

Weekly Roundup... 08 September, 2020

By Donna Ahern
Weekly Roundup... 08 September, 2020

Tesco customers have raised €170,000 during a week-long fundraiser for Temple Street. The money raised will go towards a new upgraded CT Scanner costing €1.2 million for the children’s hospital. Customers who donated €1 in a Tesco store between 24 – 30 August raised this amount, as 100% of their donation goes to Temple Street. This is just the beginning of the fundraising journey for the CT Scanner, and there are many other ways to donate to Temple Street through Tesco, the retailer said. Kari Daniels, chief executive, Tesco Ireland said: “While there is still an amount to be raised to reach the €1.2 million goal, we wanted to take this opportunity to thank all our customers who donated over the course of the week-long fundraiser."

Lithuanian retailer Maxima Grupė has announced that it has transferred the shares of Maxima International Sourcing to Maxima LT. The move makes Maxima LT the sole shareholder of Maxima International Sourcing, reports The transfer of shares was executed as a payment for the newly issued shares of Maxima LT, which increases the company’s authorised capital to nearly €107.6 million.The issue price of the newly issued shares amounts to €38.2 million. Maxima Grupė CEO, Jurgita Šlekytė, said, “The decision was taken in order to consolidate the two companies’ purchasing teams, thus taking advantage of their synergies and ensuring the highest quality and the best prices for Maxima’s customers.” Maxima International Sourcing will continue to provide centralised purchasing and negotiation services for Maxima Grupė’s retail chains in the Baltic countries, Poland and Bulgaria, the company added.

Egyptian cheese producer Domty and Dutch dairy giant FrieslandCampina have signed an MoU to explore joint business opportunities in Africa. Both companies plan to collaborate to export cheese in other African countries. Founded in 1988, Domty is an Egypt-based company producing cheese and juices., reports It manufactures, markets and distributes a range of branded white and processed cheese and juice products.The company offers 200 SKUs under the Domty, Damo, Gebnety and Bravo brands.

South Africa's Shoprite Holdings said that it expects to close or dispose of its remaining two stores in Kenya in the year ahead, leaving the East African country after opening its first store there more than two years ago. The supermarket chain has been reviewing its long-term options in Africa as currency devaluations, supply issues and low consumer spending in Angola, Nigeria and Zambia have weighed on earnings. "Kenya has continued to underperform relative to our return requirements," the retailer said, adding its decision to leave had been confirmed by the economic impact of COVID-19. Shoprite opened its first supermarket in Kenya at Westgate Mall, Nairobi, in December 2018, hoping to take advantage of disarray in Kenya's grocery sector after the collapse of Uchumi Supermarkets and Nakumatt, two of the country's top three retailers.

© 2020 Checkout – your source for the latest Irish retail news. Click sign-up to subscribe to Checkout.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.