Food
Meal delivery service Deliveroo is quitting the German market as of this Friday. The company says it wants to focus on better-performing markets.
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Daniel Kretinsky's attempts to acquire 67.5 % of shares in German retailer Metro have failed. The Czech billionaire now wants to take a seat in the Board of Directors.
Time is running out for Daniel Kretinsky's takeover bid on German retail holding Metro. The offer ends on 7 August, but is a deal still possible given the many people opposing it?
Fashion
Hugo Boss has performed slightly below expectations in its second quarter: sales were disappointing, especially in the United States.
Zalando has increased its forecast for the full year 2019 after it had an excellent second quarter, in which turnover went up 20 % to 1.6 billion euros.
Haniel has accepted EP Global Commerce's takeover bid on its remaining Metro shares. The question is now what the other shareholders will do.
General
Activists and Amazon employees in the United States and Germany are using the two-day discount event Prime Day to protest against several aspects of the e-commerce giant.
The two branches of Aldi, Nord and Süd, are going to unify their private labels. By 2020, customers of both chains will only be able to buy the same brands, spelling the end of brands like Topstar and Milsani.
The German ministry for the environment wants to bring an end to the destruction of unsold and returned products. Currently, four procent of all returned goods end up as rubbish.
Electronics
German Ceconomy, the holding that includes MediaMarkt and Saturn, has had a tough quarter due to negative currency and calendar effects. Still, the company reaffirms its prospects for the rest of the year.
German fashion web shop Zalando wants to stimulate the direct delivery of goods through partnered fashion stores, after it turned out the German e-tailer lost a billion euros worth in turnover last year due to supply shortages in its own warehouses.
Rocket Internet is going to sell its complete remaining stake in HelloFresh. Earlier this year, the Germans had already sold a part of the meal box delivery company.
The German Schwarz Group has achieved a 100 billion euro turnover, for the very first time. Unsurprisingly, Lidl makes up 80 % of that result, as American turnover continues to grow. Kaufland however performs less well.
Saks Off 5th, the outlet chain of Hudson’s Bay subsidiary Saks Fifth Avenue, is closing all its European stores. The chain currently still has shops in The Netherlands and in Germany. Meanwhile, rumours say owner HBC is the next chain to leave the Netherlands.
Zalando is introducing shipping costs in Ireland, Spain and the United Kingdom, following an earlier test in Italy. This seems to mark the end of the free era, even though the German company says there are no plans to further expand the measure.
During the first three months of 2019, German fashion web shop Zalando has exceeded expectations and expects to have made a profit after tightening its return policy.
