Minsok Pak's additon to the team comes following strong second-quarter results that renewed the leadership’s confidence in its long-term strategy.
Walmart is making big changes to its food leadership team, according to an internal memo obtained by Reuters. “The changes come at a time when the world's largest retailer has been conducting price tests across several U.S. states and pushing vendors to undercut rivals,” according to the report, which also pointed to increased pressures from Lidl and the expansion of Aldi, who with strong private brands portfolios have “raised the stakes for American grocery chain operators.” (Reuters)
OTC PL manufacturers are heading into a busy period with NACDS TSE taking place in San Diego next month. Check out what else is in store this year.
For the first time, market share stands at 30% or above in 15 of the 20 countries tracked for PLMA’s International Private Label Yearbook.
While Amazon was disrupting the U.S. grocery market, Walmart was beefing up its fashion portfolio with the acquisition of Bonobos.
"Total new product sales are expected to be greater than $200 million in 2017," Perrigo's CEO suggested.
Walmart may no longer be king of the EDLP hill, Reuters reported Thursday. An internal Aldi study found that the prices across the 1,600-store discount grocer are 21% lower than any rival, including Walmart. Aldi CEO Jason Hart plans to press that pricing advantage with a capital expenditureof $1.6 billion to expand and remodel 1,300 U.S. stores and open 400 new stores mainly in Florida, Texas and on both coasts by end of 2018, he told Reuters. According to the report, Aldi carries about 1,200 SKUs, 90% of which are private label. Comparitively, Walmart stocks as many as 40,000 SKUs, 30% of which are private label. (Reuters)
To combat uncertainty and stretch dollars, 89% of millennials are buying private label brands, IRI noted, as compared with 81% of the total population.
According to the Harris Poll's research, while brand equity in the retail category has held steady over time, a different pattern emerges when millennials are singled out versus baby boomers.
The agreement is expected to increase the overall appeal for Italian products in the U.S., ICE reported.