Chicago | Reuters — Cashing in on rising demand for imitation meat, major retailers including Kroger and Walmart recently began to carry Beyond Meat’s plant-based burgers and sausages. Now, several stores are creating similar products that will compete with Beyond Meat. Kroger Co., the biggest U.S. grocer, on Wednesday rolled out its own line of […] Read more
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Major grocers roll out plant-based burgers, undercut Beyond Meat
CN strike to weigh on railway’s 2019 profit
Reuters — Canadian National Railway on Tuesday cut its adjusted profit growth target for 2019, citing shipment delays from the country’s largest rail strike in a decade that ended last week. Shares in CN, which counts billionaire Bill Gates’ investment firm as its biggest shareholder, fell almost two per cent in morning trading in both […] Read more
Amazon moves into real-world stores with Whole Foods deal
Reuters — Amazon.com said Friday it would buy grocer Whole Foods Market for US$13.7 billion in a move that gives the online retailer a physical network of stores to distribute fresh food and other goods to millennials and wealthy consumers. Amazon, which is known for squeezing suppliers and has been experimenting with its own outlets, […] Read more
Walmart to boost fresh food handle in Canada
The Canadian arm of U.S. retail giant Walmart has earmarked about $340 million to build 29 new retail and grocery supercentres and to expand its distribution networks for fresh food and online shopping. The company on Wednesday announced it will spend about $230 million in fiscal 2015 (ending Jan. 31, 2016) on supercentre projects, including […] Read more
In surprise move, Target to pull out of Canada
Toronto | Reuters — Target Corp. will abandon its ill-fated expansion into Canada less than two years after launch, the U.S. discount retailer said on Thursday, in a surprise retreat that will put more than 17,000 employees out of work and cost it billions. Shares of Target, which was granted creditor protection for its money-losing […] Read more
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