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Weekly Round-Up ... 12 July 2022

Croatian retailer Studenac has entered into a cooperation agreement with European delivery platform Wolt to launch online dark stores. The service will allow customers to order products exclusively through the Wolt application. The first dark stores are expected to open in Split and Zagreb by the end of July and August, respectively. As part of the agreement, Studenac will provide products and equipment, while Wolt will take over responsibility for logistics and delivery of goods. The collaboration will enable the partners to meet the demands of their customers and offer quality service. Earlier, US food delivery firm DoorDash has forecast a slowdown in second-quarter orders at Wolt Enterprises from the start of the year as it completed the $3.5 billion (€3.28 billion) purchase of the European business.

SPAR recently released the second video in the SPAR Community Road Trip series, which features SPAR Brand Ambassador, Kellie Harrington, visiting deserving clubs and community groups in Limerick and Dublin. The two videos chronicle the Community Road Trip, during which Kellie visited the Celine Hession School of Dancing in Galway, the Munster Wheelchair Hurling & Camogie Club in Limerick and the Spartan Boxing Club, Cork on Day One and the Cancer Care Transport, Waterford and Friends of the Elderly in Dublin on Day Two. In total, five organisations spread across Connacht, Munster and Leinster each received €2,000 in funding bringing the total invested by SPAR in Community initiatives over the last six months to €20,000. More than 1,200 groups applied for the second wave of funding provided by the SPAR Community Road Trip fund. Watch it here

Yum Brands Inc said on Tuesday 5 July that it was in advanced talks to sell its KFC restaurants and franchise rights in Russia to a local buyer, after which it plans on fully exiting the country. The company opened its first KFC restaurant in Russia in 1995 and now has about 1,000 outlets in the country, nearly all of which are operated by independent owners under license or franchise agreements, reports Reuters. Western companies leaving Russia over the invasion of Ukraine have sped up the pace of their exits in recent weeks as Moscow is advancing a new law that would allow it to seize assets and impose criminal penalties on foreign firms. McDonald's Corp MCD.N, an icon of American capitalism in the dying embers of the Soviet Union, sold its business in Russia earlier this year. Its restaurants opened under new branding last month.

European Union wheat is being scooped up at the start of the 2022/23 crop season as importers profit from a pullback in prices from records and seek alternatives to Ukrainian supplies disrupted by war, traders and analysts said. A rare purchase of German wheat last week by Egypt's state grains buyer, which ramped up direct purchases outside international tenders, underscored how EU wheat is being tapped in the Middle East and Africa to cover the early part of the new season that started this month. “The EU looks like having to take a big share of the burden of replacing Ukrainian wheat this summer,” a trader said.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.

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