Ahold Delhaize has hit "roughly half" its goal to grow revenue from businesses beyond grocery stores to €1 billion by 2025, CEO Frans Muller told Reuters, an effort focused on selling ads on its supermarkets' websites and monetising insights on consumer data. Grocers like Ahold Delhaize are building ventures that sell online advertising to consumer goods companies, including the ability for their brands to appear first in shoppers' searches or feature as "sponsored products" - offerings pioneered by Amazon. They are also working to improve the quality of the data insights they can sell to the consumer goods companies, who in turn use it to target shoppers with ads for their products. The data is encrypted and aggregated so that it cannot be traced to individual shoppers. Muller said Ahold Delhaize, which owns supermarket chains including Stop & Shop in the United States and Albert Heijin in the Netherlands, uses revenue from advertising to keep food prices lower as inflation persists in Europe and the US. "What we generate on retail media revenue, we will reinvest in our business to make sure that consumers can afford themselves healthy and sustainable products," Muller said."We have to work very hard together, with retail and manufacturing, to keep costs down," he added.
A panel that reviews disputes in the credit default swaps (CDS) market said on Friday that a 'failure to pay' credit event had not occurred in relation to Casino Guichard Perrachon, dashing investors' hopes for a payout on the company's CDS.The EMEA Credit Derivatives Determination Committee (CDDC) met on Thursday to discuss the question raised by an investor, it said on its website. The French retailer had announced on 26 May it entered court-backed talks with creditors in a process known as conciliation. In making its decision, the committee noted that a majority of investors in Casino's 2026 and 2027 bonds had agreed to waive the default resulting from the start of the conciliation, and to rescind any acceleration of the notes, which would trigger immediate repayment. Given the notes had not been accelerated, no failure to pay event occurred, the committee concluded. On Monday, the committee ruled in a separate decision that a bankruptcy credit event had also not occurred for Casino replying to a previous question raised by an investor. There were $428 million of net notional Casino CDS outstanding as of 19 May, according to DTCC data.
Polish retailer Żabka Group contributed PLN 7 billion (€1.57 billion) to the domestic economy last year, while also creating 56,000 jobs, it has revealed in its fifth annual Responsibility Report. In the report, entitled Conveniently and Responsibly, Żabka outlined a number of achievements and actions undertaken as part of its ESG strategy in 2022, under four pillars, Sustainable lifestyle; Mindful business impact; Responsible organisation; and Green Planet, reports ESMmagazine.com. In a statement, the group said that all its 'activities take into account its commitment to create more sustainable living for everyone and everyday, while minimising its environmental impact across the value chain'. Among its endeavours is an initiative to contribute to consumers' balanced diets by providing more nutritious, healthy on-the-go products, while elsewhere, as a response to the war in Ukraine, the group provided immediate humanitarian aid, including housing close to 350 refugees.
Read More: Weekly Round-Up ... 6 June 2023
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