Japan’s Seven & I Holdings said on Thursday the retailer’s founding Ito family could not secure the financing required for a US$58 billion management buyout, and it would consider a rival offer from Canada’s Alimentation Couche-Tard. “There is no actionable proposal from Mr. Junro Ito and Ito-Kogyo for 7&I to consider at this time,” the company said in a statement. “7&I remains committed to exploring all opportunities to unlock value for shareholders and continues to assess a full range of strategic alternatives, including the proposal from Alimentation Couche-Tard.” Itochu said in a statement it had ended its consideration of participating in the Seven & I founding family’s buyout proposal. The failure of the management buyout heightens the likelihood of Couche-Tard pulling off a mammoth acquisition of one of Japan’s best-known and most beloved retailers, which owns 7-Eleven convenience stores. Seven & I’s shares sank 12 per cent, while Itochu shares…

The use of innovative technologies to drive better safety and loss prevention (LP) outcomes for retailers is critical in today’s reality of escalating in-store violence. According to a recent study, a staggering 84% of retail associates are concerned about the lack of technology used by their organizations to spot safety threats or criminal activity. The same number are also concerned about their personal safety due to rising theft and crime in stores. There is no better time for technology backed by responsible data-driven initiatives to pave the way for a better, safer future for retail customers and frontline teams. Based on the above study, Artificial Intelligence (AI) technologies are currently viewed as the most impactful for LP. Auror SVP Strategic Partnerships Terry Sullivan spoke with former VP of Asset Protection at Kroger, Walmart, and The Home Depot Mike Lamb on The Intel Podcast about what LP innovations are on their radars for…

Food waste is a major challenge for petrol & convenience food operators. In a sector where perishables such as snacks, sandwiches, and beverages are essential, making smart choices in purchasing and preparation can significantly reduce waste while enhancing profitability and maintaining quality. Food waste is a major challenge for petrol & convenience food operators. In a sector where perishables such as snacks, sandwiches, and beverages are essential, making smart choices in purchasing and preparation can significantly reduce waste while enhancing profitability and maintaining quality. By carefully selecting ingredients, balancing fresh and frozen options, and adjusting cooking practices, operators can create a more sustainable and efficient food service. Here’s how: Choose Frozen Over Fresh When Possible One of the easiest ways to reduce food waste is by incorporating more frozen ingredients into daily operations. Frozen foods, including vegetables, fruits, and proteins, have a longer shelf life compared to their fresh counterparts,…

Viva Energy, which runs the OTR and Coles Express networks, has reported declining sales in its convenience store chain. The company is blaming illegal tobacco sales and the cost-of-living crisis for its convenience predicament. In the fuel company’s convenience and mobility business, fuel sales volumes edged up 0.5 per cent while convenience sales fell 4.1 per cent. While the group’s overall fuel sales were up 4 per cent on a pro forma basis to 16.8 billion litres, that growth was driven mainly by the solid performance of the commercial and industrial division, where volumes rose 5.2 per cent. “Group performance was negatively impacted by lower demand within our convenience business due to cost-of-living pressures and illicit tobacco trade, coupled with high inflation lifting the cost of doing business,” said CEO and MD Scott Wyatt. During the year, the group completed the OTR acquisition and received regulatory approvals for the Liberty Convenience deal.…

Celsius Holdings (CELH) shares skyrocketed 25% Friday, a day after the energy-drink maker expanded its efforts to reach women by acquiring rival Alani Nu for a net purchase price of $1.65 billion. The company also posted better-than-expected financial results.2 Celsius said the deal consists of $1.80 billion in cash and stock plus $150 million in tax assets. It is purchasing Alani Nu from co-founders Katy and Haydn Schneider and Congo Brands co-founders Max Clemons and Trey Steiger. Congo Brands operates Alani Nu. Celsius noted that along with the initial agreement, the sellers stand to potentially make another $25 million earn-out based on 2025 performance. Celsius CEO John Fieldly explained that the company expects the move will help expand the availability of Alani Nu products and “help more people achieve their wellness goals with great-tasting, functional product options at more moments throughout their lives.” The transaction is expected to close in…

Ampol has delivered its FY 2024 financial results, reporting a statutory net profit of $122.5 million despite challenging economic conditions. The company’s full-year RCOP EBIT stood at $715.2 million, with strong performances from Convenience Retail and New Zealand operations helping offset refinery headwinds. Matt Halliday, CEO of Ampol, acknowledged the difficulties faced during the year but highlighted the company’s resilience. “The 2024 financial year was one of challenging global refining and commodity markets that impacted both our Lytton refinery and Trading and Shipping operations. “Our retail businesses were the highlight with Convenience Retail growing earnings again this year, while Z Energy delivered another resilient performance, both against the backdrop of economic environments where higher interest rates and inflation increased cost of living pressures on consumers.” The Convenience Retail segment recorded EBIT of $356.6 million, up $2 million from the previous year. Ampol’s strategy to position its company-owned network at the…