Placer.ai cites the chain’s steady growth and upscale offerings will contribute to its continued success over the next year. CHICAGO — Data analytics firm Placer.ai named Foxtrot Market one of its Top 10 Brands to Watch in 2024, placing it in the company of major brands such as New Balance and Trader Joe’s. In a recently released white paper, the company emphasized Foxtrot’s steady growth, its recent merger with Dom’s Kitchen & Market and its focus on local brands as reasons the chain was poised for further success over the next year. Placer.ai also pointed to a more unusual customer base that may have been underserved by other c-stores retailers to account for some of Foxtrot’s success.  “The chain … offers an upscale convenience store experience and is particularly known for … its excellent wine curation and dining options,” the paper stated. “Visitors to the chain were significantly more likely to fall into AGS:…

Placer.ai cites the chain’s steady growth and upscale offerings will contribute to its continued success over the next year. NATIONAL REPORT — Retail chief financial officers (CFOs) have a positive outlook for 2024, but their expectations are in response to fixed consumer budgets and inflation. While 40% of CFOs anticipate profit growth between 10% to 25% in the year ahead, their paths to profitability vary, according BDO’s “2024 CFO Outlook Survey.” Some, for example, are adjusting their pricing strategy, while others are leveraging scenario modeling technology to improve supply chain operations, as Convenience Store News’ sister publication Chain Store Age reported.  Key takeaways of the survey include: To navigate the year ahead, retailers should diversify their tactics, according to BDO. The firm offered the following recommendations: The 2024 Retail CFO Outlook Survey polled 100 retail CFOs from companies with revenues ranging from $250 million to $3 billion or more in October 2023. The survey was conducted…

The Australian Beverages Council, National Retail Association and Australian Association of Convenience Stores have rejected a call for a tax on soft drinks, labelling it a misguided measure that won’t address obesity but will hit households that can least afford it. Launching its new position statement in Canberra, the Rethink Sugary Drink alliance – the Australian Medical Association (AMA), Cancer Council Australia, the Australian Dental Association, Food for Health Alliance, and Heart Foundation – urged the government to introduce a 20 per cent health levy on sugary drink manufacturers. AMA president Professor Steve Robson said new research by the AMA found a 20 per cent health levy on sugary drinks could raise around $1 billion each year, which could be used to fund crucial obesity prevention and other health initiatives. Robson said the research showed the policy could slash the amount of sugar Australians consume every year by nearly 2.6 kilograms per…

The Australian foodservice distribution industry is set for its biggest shake-up since Woolworths Group took a majority stake in PFD Food Services, with Metcash (ASX: MTS) set to spend up to $412.3 million to buy Melbourne-headquartered Superior Food, which delivers to 20,000 customers nationwide including restaurants, fast-food chains, caterers, cafés and hotels. Metcash, itself a wholesaler and distributor for brands such as IGA, Mitre 10 and Foodland, is also acquiring Adelaide-based Bianco Construction Supplies for $82.2 million and Wangaratta-based Alpine Truss for $64 million – two acquisitions that will form part of its Independent Hardware Group (IHG) division. The spending spree will be funded by a fully underwritten institutional placement of $300 million, as well as $278 million from existing cash and available debt facilities. Metcash will also be undertaking a share purchase plan (SPP) worth up to $25 million to boost the coffers at $3.35 per share, representing an 8 per cent…

Severe weather events in late 2023 and early 2024 have significantly impacted small businesses in Queensland. To help ensure accurate advice, the Office of the Queensland Small Business Commissioner (QSBC) has created the Flood and Cyclone Legal Help and Impact of Flooding on Leased Premises factsheets.  After a disaster or incident, it is important to document decisions and actions accurately to help ensure you have comprehensive records for accessing disaster grants or loans and the insurance claim process. The QSBC has put together a tool to help SMEs do this with their disaster or emergency event log template. For QLD businesses impacted by recent disaster events, you may be eligible for loans and grants through the QRIDA. View article source here.