Walmart posts revenue growth , raises full-year outlook
Ariela & Associates buys Parade business
Aldi to purchase Winn-Dixie and Harveys
NEWS
Walmart posts revenue growth , raises full-year outlook
Ariela & Associates buys Parade business
Ariela & Associates International ( AAI ) has acquired women ’ s intimate apparel brand Parade , aiming to enhance its fashion portfolio .
Under the deal , Parade will keep its identity and mission while leveraging AAI ’ s sourcing , design , and forecasting capabilities to scale in the US and abroad .
“ We admire the extraordinary impact Parade has had in such a short time and are thrilled to bring a brand that shares our values of authenticity , inclusivity , and sustainability to the AAI portfolio ,” AAI CEO and president Ariela Esquenazi said . “ Parade ’ s commitment to inclusive fast fashion that doesn ’ t compromise on its sustainable mission aligns seamlessly with our core principles and we believe that this union will allow us to create powerful synergies .”
Parade , launched in 2019 , aims to set new benchmarks for diversity , body acceptance and self-expression in the intimate apparel sector . The brand is dedicated to empowering the next generation of women while supporting sustainable practices by offering a wide choice of items and sizes to fit all body shapes .
The digitally native brand ’ s use of sustainably sourced materials and trendsetting designs has helped it build a customer base of young women .
Parade will join AAI ’ s portfolio , which already includes plus-size lingerie brand Curvy Couture ( acquired in 2019 ), inexpensive intimates brand Smart & Sexy , and Fruit of the Loom , for which AAI has held the master license in the bra category for 20 years .
Walmart Inc has raised its FY24 guidance after reporting an increase in both revenue and operating income for the second quarter ended July 31 .
The company ’ s consolidated revenue reached $ 161.6 billion , up 5.7 percent , while operating income grew 6.7 percent .
Walmart ’ s US business increased sales by 5.4 percent overall and by 6.4 w in comparable terms .
For the full year , the company expects a 4-4.5 percent increase in consolidated net sales and 7-7.5 percent growth in operating income .
“ Even as other retailers are suffering , Walmart continues to shine with another set of strong numbers ,” commented Neil Saunders , managing director of GlobalData .
Despite inflation and challenging economic finances , Walmart ’ s ongoing improvements to its range and shopping experience have made shoppers stick around .
“ There is a question mark over whether newly converted customers will stay with the chain if and when inflation moderates or the economy strengthens ,” Saunders continued , adding he errs on the side of optimism for two reasons .
“ First , we don ’ t think that food prices are going to drop steeply any time soon , so households will continue to spend more of their budget on groceries than they were doing pre-pandemic .
“ Second , shopping at Walmart has now become an established habit and new shoppers appear to be satisfied with the proposition . Because of both things , we think that over the medium-term , Walmart will hold on to most of the gains it has made .” ►
Aldi to purchase Winn-Dixie and Harveys
In a deal that will expand its presence in the region , Aldi has purchased US supermarket and grocery chains Winn-Dixie and Harveys as part of Southeastern Grocers ’ larger divestiture .
The German company will take over all Winn-Dixie and Harveys Supermarkets operations at approximately 400 stores across Alabama , Florida , Georgia , Louisiana and Mississippi .
Aldi US CEO Jason Hart said the transaction supports the company ’ s long-term growth strategy in the US , including plans to add 120 new stores this year and to reach more than 2,400 stores by year ’ s end . “ The time was right to build on our growth momentum ,” Hart said . Aldi established a presence in the Southeast in the mid-1990s and has invested $ 2.5 billion in the region since . More recently , it opened its 26th regional headquarters and distribution center in Alabama , with plans to open 20 new locations by the end of the year .
“ This merger agreement is a testament to our successful transformational journey and the tireless work of our dedicated associates who serve our communities ,” said Anthony Hucker , president and CEO , Southeastern Grocers .
After the acquisition , some locations will be converted into Aldi stores , while others will continue operating under the Winn-Dixie and Harveys brands .
The transaction is expected to close in the first half of 2024 , subject to regulatory approval and other customary closing conditions .
September 2023 www . insideretail . us 11