Dollar General’s top-line sales rose 11.1% year over year to $9.5 billion in the third quarter, with comparable sales up 6.8%, according to a press release. Operating profit at the discounter was up 10.5% to $735.5 million, but new CEO Jeff Owen pointed to higher-than-expected distribution and transportation costs as weighing on earnings. Due to elevated costs, as well as pressure from sales mix, shrink and damages, the company significantly lowered its forecasts for profit growth during the fiscal year, from a high end of 14% to, now, 8%. With top-line growth in double digits, there is little doubt that Dollar General is benefiting from a volatile environment for consumers, many of whom are seeking value wherever they can to combat inflation in essential goods. Owen said in a release that the retailer has seen a “modest” increase in customer traffic as well market share gains in both consumable and non-consumable category sales. As for the protracted cost pressure, Owen said the company sees these as “largely temporary, and we are confident in our plans to drive greater supply chain efficiencies moving forward.” The retailer’s earnings missed analyst estimates as unexpected costs ate into profits. And while operating profits on the whole rose, Telsey Advisory Group analyst pointed out that operating margin remained flat from last year, when skyrocketing freight and transportation costs were endemic in the industry. Meanwhile, Dollar General’s sales reflected the current selling environment across much of retail. Comp sales in consumables — which on the whole carry lower margins — rose, while comps were down in apparel, seasonal and home products, according to the company. That shift in sales mix also weighed on the company’s margins. Still, Dollar General’s position as one of the largest value players ought to benefit it as consumers buckle down for continued inflation and an expected recession. “While Dollar General is facing pressures from elevated costs, we expect performance to be relatively solid as the year progresses, as consumers continue to increase reliance on Dollar General in this more challenging economic environment,” the Telsey analysts said in an emailed note, pointing to the retailer’s strong comps during the 2008 - 2009 recession. Neil Saunders, managing director of GlobalData, also pointed to new stores — of which Dollar General opened 268 in Q3 alone — and higher prices as elevating Dollar General’s sales, along with an influx of new customers seeking refuge in value prices. Some of those new shoppers are also visiting Dollar General for its proximity to their homes, as a way to save on gas costs, Saunders noted, pointing to his firm’s data. Source: RetailDive #smartdiscount #discountfoodretail #discounter #discount #foodretail #retail #drc #discountretailconsulting #retailconsulting #dollargeneral #usa #growth #sales #expansion #consulting #consultancy

Discount non-food retail chain Dollar General's with present around 19,000 store locations in the US is further driving its store-on-every-corner strategy is accelerating as consumers seek relief from inflation. Why it matters: Price increases are prompting shoppers to trade down to less expensive products or stay closer to home and that plays right into the hands of discount retailers like the nation's largest dollar-store chain. Driving the news: Dollar General announced Thursday that it'll open another 1,050 stores in 2023, after posting an 11% sales increase in the third quarter compared with last year, and an 8% jump in net income. The company already has the most locations of any retailer in the U.S. with more than 19,000, according to GlobalData. What they're saying: "The fact the business model is firing on all cylinders has given Dollar General the confidence to continue its rapid pace of physical expansion," GlobalData managing director Neil Saunders wrote. State of play: Dollar General's omnipresence has been key to its success. Six in 10 lower-income consumers are shopping closer to home to save gas, according to GlobalData. Meanwhile, archrival Dollar Tree has been dealing with a litany of operational issues in its Family Dollar division, including a devastating rat-induced recall. Yes, but: Dollar General's rapid expansion may be taking a toll. It warned Thursday that it needs temporary warehouse space to meet its inventory needs, and securing it is taking longer than expected driving up costs. It's also facing higher-than-expected supply chain costs and is paying more for transportation. That was enough for it to lower its full-year profit outlook, sending its stock down 8% Thursday. Loop Capital Managing Director Anthony Chukumba told Yahoo Finance, however, that the selloff was "overdone." He characterized a lot of Dollar General's headwinds as "temporary." Shares bounced back Friday, trading up 2% around noon despite overall market declines. What's next: Dollar General is moving into new categories, setting its sights on the elephant in the room, Walmart. Dollar General CEO Jeff Owen said on an earnings call that the retailer has already started selling fresh produce in 3,000 stores and plans to do so in more than 10,000 locations. See here for more: Dollar General adding 1,050 stores: Fresh produce coming (axios.com) #smartdiscount #dollargeneral #usa #expansion #growth #salespoints #stores #drc #discountretail #discountretailconsulting #retail #discount #consulting

With its Global Best Brand Ranking 2022, the Mafo Institute YouGov publishes the best brands in 41 markets worldwide. Here, Mercedes-Benz and discount retail chain Lidl (owned by the German Schwarz Group) are the only German brands in the top 10. Samsung takes first place in the international ranking. The South Korean electronics group has thus overtaken the US tech giant Google for the first time. Google previously led the ranking for two consecutive years, YouGov reports. Samsung secured first place with 127 score points, Google only managed 106 points. Last year, the South Koreans came second, in 2020 fourth. Google/Alphabet subsidiary YouTube (85 points) and Netflix (59 points) took third and fourth place. In 2022 they will swap places: in 2021 Netflix was still ahead of YouTube. The e-commerce platform Shopee and WhatsApp also swap places: Shopee climbs from sixth place last year to fifth this year (51 points), while WhatsApp falls from five to sixth place (50 points). Toyota is a top 10 newcomer and comes in seventh (41 points). Also new among the world's best is Colgate, an oral health brand. She ends up in 8th place with 34 points. Finally, ninth and tenth place went to Mercedes-Benz (34 points) and Lidl (33 points). YouGov's 2022 Global Best Brand Rankings recognize the world's best brands from a consumer perspective. The global top 10 in 2022 is mainly made up of websites and apps, streaming portals, automotive brands and retailers. See here for more: Mercedes-Benz und Lidl als beste deutsche Marken in globaler Top 10 | MEEDIA #smartdiscount #brands #global #top #german #drc #discountretail #discountretailconsulting #discounter #discount #retail

Small and mid-sized manufacturers are losing ground in volume and value to private labels, which now make up 36% of total FMCG value sales in Europe. According to IRI, the UK continues to lead private labels sales in absolute value based on its data looking into over 230 FMCG categories, over 2,000 product segments and over 100 million SKUs, considering the impact of the pandemic, inflation and the cost-of-living crisis. As a result of price rises, IRI’s report found that retailers are optimising ranges, pack sizes and price points, however found that strategies differ by category and value tier, with one of the biggest beneficiaries being private labels. The data analytics and market research company has said that is anticipates a price war is increasingly likely in early 2023. “Private labels have traditionally offered lower prices to shoppers. But these are not sustainable and inflationary price rises have been greater than on well-recognised brand names,” IRI strategic growth insights global SVP, Ananda Roy said. “Yet this has not dampened demand especially in the Chilled and Fresh, Ambient and Frozen segments in food categories, and Household and Personal Care in non-food categories.” “Our research has shown this is because around 60% of consumers believe private labels are as good at national brands on quality, innovativeness, sustainability, trust and delivering on claims, with 25% saying some private labels are ‘even better’ than national brands. This is a significant shift from previous periods.” See here for more: Private labels making up 36% of total FMCG value sales (grocerygazette.co.uk) #smartdiscount #europe #privatelabel #ownbrand #ownlabel #growth #expansion #salesvalue #marketshare #drc #discountretail #discountretailconsulting #retail #discount #consulting

Discount Retail Chain Aldi Nord Poland (German family owned) wants to have about six hundred stores in Poland within 5 years. Ultimately over a thousand. In the coming weeks, the network will open several new outlets across the country. The discounter is also open to takeovers. Aldi is interested in facilities with an area of ​​approx. 1,000 sqm. Annual expenditures on the development of Aldi in Poland increased by 50%. compared to PLN 500 million (US$ 111million) last year. Following the opening of new stores, the chain plans to build two more warehouses that will ensure efficient logistics and optimize transport costs. Let us recall that in September this year, Aldi opened its second warehouse in Lisi Ogon near Bydgoszcz, to ensure stocking of stores in the northern part of Poland, which is a natural consequence of the chain's development in this area. For Aldi, expansion is a priority. It prioritizes organic development, but the network is open to various possibilities. Increase in the number of stores and expansion of logistics 'Our ambitions are quite clearly defined, in the next five years we want to have 500 - 600 stores. This will provide us with the appropriate scale, enable further development with profitability, taking into account the amortization of certain investments and the expansion of the logistics network', says Wojciech Łubieński, President of the Management Board of Aldi in Poland. 'The expansion of logistics is a key element of Aldi's strategy at the moment, taking into account distribution costs and expansion plans. With our scale, until recently, the cost of transport did not matter much, but now it has changed. All the more so when we are dealing with such a large increase in energy prices, the most important cost-generating element, it is necessary to work on optimizing this process. Reaching the number of 500 - 600 stores is a short-term, five-year goal for us. We also have a ten-year perspective to plan over a thousand stores. We assume organic growth, which may change if there is an acquisition. However, this is an element that we cannot predict at the moment. As a company, we are ready for takeovers if the opportunity arises,” adds Wojciech Łubieński. 120 new stores 2 years Within two years, Aldi wants to grow by 120 outlets with an area of ​​approx. 1,000 sqm, with car parks for approx. 80 cars. The standard for the chain is the area with a sales room of about one thousand square meters. This is the benchmark on which Aldi is based, although it also allows slightly smaller and larger outlets. Big cities are a priority for the chain, this is the first group of locations on which the brand focuses. A natural direction is also to fill in the blanks on the map of Poland and start commercial activities where Aldi is not yet present. The network also does not exclude smaller towns. Despite the pandemic and the economic crisis that affects all business entities, for over two years Aldi has been opening several dozen stores a year, increasing the level of employment and expanding its structures. With the current scale of the network's operations, this is an increase in organic development by approx. 50%. Only in the coming weeks, the discounter will open several new stores, both in smaller and larger towns, including Rawicz, Świdnik, Lublin, Kraków, Wieluń, Smolec, Sosnowiec, Białystok, Słupsk, Puck, Legionowo, Żyrardów, Suwałki and Poznań. ALDI in Poland has 233 stores and employs nearly 4,000 people. See here for more: https://omnichannelnews.pl/2022/11/30/wojciech-lubienski-aldi-chcemy-miec-500-600-sklepow-w-polsce-w-perspektywie-5-lat/ #smartdiscount #aldi #poland #expansion #growth #stores #drc #discountretail #discountretailconsulting #retail #consulting

Ottawa-based Giant Tiger Stores wants to position the discount-concept as a go-to store for price-sensitive shoppers during the worst inflation crisis since the early 1980's. “It’s in our DNA,” a spokesman said. “We keep our cost base low and if we keep our costs low, then we’re not facing pressure to be pushing up prices.” Giant Tiger — which operates more than 260 stores between Alberta and Prince Edward Island, with most in Ontario and Quebec — is perfectly placed to help shoppers withstand sky-high inflation because of its ethos to keep costs as low as possible. In the meanwhile, the discount retailer has expanded its offering of fresh groceries this year as consumers search for discounts and low prices. High inflation appears to be impacting Canadians’ wallets. Visits to food banks increased to record highs in March this year due to higher costs for nearly everything, one recent report said. The cost of food has increased substantially, with Canadians paying upwards of 11 per cent more for groceries in September than a year before, according to Statistics Canada’s latest inflation report. That’s higher than the overall inflation rate of 6.9 per cent and the fastest acceleration since August 1981. In response to shoppers’ search for discounts and low prices, Giant Tiger has ramped up its fresh groceries products this year. But higher fuel and commodity prices, poor weather and the war in Ukraine have all pushed prices up at the checkout, making it challenging to deliver on Giant Tiger’s “savings to smile about” slogan. “I think inflation is not something that anyone can avoid, but what we have always strived to do is provide the lowest possible price in the market,” a spokesman says of the 62-year-old company. “That positioning, that drive, that focus of ours really has not changed at all. In fact, we’re paying even more attention to that than we have in the past.” Giant Tiger started as a single store in Ottawa’s By Ward Market in 1961. Founder Gordon Reid opened the discount retailer in part because of fond memories from his mother’s job at Woolworths, a discount supermarket from Australian Woolworths Group Ltd., he told the Canadian Business Journal in 2011. Today the store sells a variety of wares, including home decor and small furniture, clothing, toys, pet products and food, and promises to sell at the lowest price on the market. For example, a four-cup Pyrex measuring cup sells for $7.97 on Giant Tiger’s website while the same cup sells online for $16 at Walmart Canada. The CEO says one of the main reasons Giant Tiger is able to keep costs low is because of its private trucking fleet, which handles product deliveries for all its stores across the country. Its trucking strategy sets it apart from many other retailers forced to pay profit-making fees to third-party transport companies to get goods to brick-and-mortar stores. Those fees, which put a strain on operating expenses in the grocery industry, for example, are either absorbed or passed on to consumers. “We have our own trucking group, Tiger Trucking, that delivers products to our stores every day across the country and that fleet has been a key contributing factor to helping us keep costs low,” says the CEO of the 150-truck and 700-container fleet. Giant Tiger further honed its savings strategy during the pandemic. Supply chain disruptions served as an exercise to make operations more “agile,” and have proven beneficial in the current high-inflationary environment, the spokesman says. One such change was allowing purchasing managers the freedom to pivot to different brands for certain items if they weren’t available, a practice that carries on today. Further, the company avoids stockpiling inventory and instead “tightly” manages the amount of goods it keeps on hand. It also leaves room for purchasing managers to source deals on goods on a weekly, if not daily, basis, the Head of Communications says. “Giant Tiger’s focus remains on providing Canadians with the products and groceries they need at the lowest price possible every day. We are proud to serve the 264 communities we call home and look forward to expanding further in the future. Source: Financial Post #smartdiscount#discountfoodretail#discounter#discount#foodretail#retail#drc#discountretailconsulting#retailconsulting #gianttiger #canada #inflation #expansion #consulting #consultancy ”

After almost 10 years of presence in Colombia, through its brand Ara, the Portuguese company Jerónimo Martins opened this week its thousandth store in the country and the chosen city is Cartagena, in its Historic Center. The new Ara store in Cartagena is on Calle de La Mantilla with an area of 227 m². The opening of this new store will be led by Pedro Leandro, CEO of Jerónimo Martins Colombia. For Saad Escaff, Director of Operations of the North Zone of Jerónimo Martins Colombia, "the opening of the thousand store is a great pride and that this opening is today in Cartagena and within the Walled City, has a much more special connotation and is proof that the company believes a lot in Colombia." The accumulated investments of Jerónimo Martins in Colombia are estimated at 4.5 billion pesos and for the CEO of the company, Pedro Leandro, "it is a long-term project, which began almost 10 years ago and is a project designed and envisioned to last. We have the ambition to grow because we believe that it is a country with many conditions to continue the project and it is a country that has received the brand and the format very well in a generous and loving way, which motivate us to continue in the future. For the future it will come more than what we have been doing now." He recalled that after the slowdown of the pandemic, between 2021 and 2022, the company will end up opening more than 400 stores and we will continue to grow because we still lack many departments and municipalities to expand the presence of the brand in Colombia. In this format of convenience stores, Ara is a great protagonist along with D1. It is estimated that the segment participates with 20% of total retail sales, but Ara has a trend of increasing market share, say brand spokespeople. Leandro stressed that the format of the stores has had a very good acceptance and therefore it is thought to accelerate the expansion, as it is a format of proximity that allows the daily purchase of Colombian families. The opening of a store of this brand generates about 10 direct jobs on the Caribbean Coast. The Northern Zone of the country, made up of the 8 departments of the Colombian Caribbean, expects to close the year with a little more than 4 thousand direct jobs. In the Caribbean region the brand has 351 stores and in Bolivar there are a little more than 50 stores between Cartagena and municipalities such as Arjona, El Carmen de Bolívar, San Juan Nepomuceno, San Jacinto, Turbaco, Marialabaja, Calamar, among others. Ara also supports local suppliers and in the case of the North Zone has 60 suppliers that supply them in different categories, especially in fruits and vegetables, meats, bakery and rice, says Saad Escaff, Director of Operations of the Northern Zone of Jerónimo Martins Colombia. Source: El Universal #smartdiscount #discountfoodretail #discounter #discount #foodretail #retail #drc #discountretailconsulting #retailconsulting #ara #colombia #expansion #consulting #consultancy

The hard discount stores D1 and Ara are strongly positioned among the largest companies in Colombia – despite the decline of discounter Justo & Bueno that left the top 35. Tiendas D1 (Koba Colombia), Santo domingo Group, is already the eighth largest company in the country in operating income with $ 9.95 billion in 2021, 35% more compared to the $ 7.37 billion achieved in 2020 during the coronavirus pandemic, according to the report of the 1,000 largest companies in the country of the Superintendence of Companies. This is done, according to its authors, with the individual and separate financial statements, focusing on operating income, which corresponds to the sum of income from ordinary activities, other income, as well as the participation in the profits of associated subsidiaries and joint ventures. D1, the main hard discount chain in the country, ranked behind Nueva EPS, Empresas Públicas de Medellín (EPM), Almacenes Éxito, Claro, the Cartagena Refinery, Terpel and Ecopetrol, which was the first. Tiendas D1, founded in 2009 by Chilean Michel Olmi, already rubs shoulders with the giant Almacenes Éxito, which is the largest supermarket chain in the country with operating revenues of $13.03 billion, 6.80% more than in 2020. After Almacenes Éxito and D1, the third largest company in the commerce sector is Alkosto (Colombiana de Comercio S.A), which had operating revenues of $9.09 billion, which meant an increase of 21.10% compared to 2020. There is also Supertiendas and Droguerías Olímpica, which reached operating revenues of $ 6.63 billion, an advance of 4.90% compared to 2020. The Barranquilla company is closely followed by the hard discount chain Ara (Jerónimo Martins Colombia), which ranks 21st with operating income equivalent to $ 5.34 billion, 35.50% more. Top 35 of the 1,000 largest companies in Colombia With this level of operating income, the two main hard discount chains in the country, D1 and Ara, already surpass large companies such as Avianca ($4.39 billion), Compensar ($4.26 million), Cencosud ($4.15 billion) orGrupo Aval ($3.74 billion). Even so, only until 2020 D1 reported positive profits after more than 10 years of operation. In a recent interview with Bloomberg Line, Kantar Worldpanel's Chief Commercial Officer, Katya Lopez, told Bloomberg Line that the discount store channel has grown with an equation that includes savings, convenience and time. According to Katya López, between January and February of this year nine out of ten households bought at least once in these stores, which she considered "one of the great strengths of the format." She added that these discount chains participate with 20% of total spending in the mass consumption basket in households, but indicated, based on the evolution of the format in European countries, that the challenge is "to find an adequate portfolio to meet the needs of buyers, without losing sight of their business model. " The expert considered that it is important that these chains maintain their logistics model, "which starts from efficiency", while "they manage to maximize the value of their sales". For this it is important, she concluded, that they not only leverage their growth in the number of households that buy in these chains, but also ensure that they spend more within these channels and become habitual consumers. Colombia’s top 35 in 2021 Ecopetrol Terpel Cartagena Refinery Cellular communication (Clear) Almacenes Éxito Empresas Públicas de Medellín (EPM) New EPS Koba Colombia (D1) Colombian Trade (Alkosto) Drummond EPS Sura Cenit Transport and Logistics of Hydrocarbons Commercial Kopps EPS Sanitas Superstores and Olympic Drugstores Carbones del Cerrejón Codensa Primax Bavaria Colombia Telecommunications (Telefonica) Jeronimo Martins (Ara stores) Sodimac Total Health EPS Emgesa Central Pipeline Avianca Compensate Cencosud C.I Trafigura Petroleum Colombia Esenttia Grupo Aval Acciones y Valores Samsung Electronics Famisanar EPS Celsia Isagen Source: Bloomberg #smartdiscount #discountfoodretail #discounter #discount #foodretail #retail #drc #discountretailconsulting #retailconsulting #d1 #ara #colombia #expansion #top35 #consulting #consultancy

Discount Retail Chain Daiso Industries, the operator of the Japanese 100-yen chain Daiso, plans to boost its store network in the US by more than 10 times the current number as customers respond well to the chain’s affordable products amid soaring inflation. According to The Japan Times, the retailer has more than 80 physical stores in the country currently, most of them in California and Texas. About 30 stores are slated to open in the market during the next fiscal year. The retailer aims to increase the Daiso store number in the US to at least 1000. Daiso opened its first store in the country in 2005 in Alderwood Mall located in Lynnwood, Washington. A spokesperson of Daiso said the chain will aggressively go into new areas abroad as it believes discount products will catch on overseas too. Earlier this year, the operator of Daiso in Hong Kong, Aeon Hong Kong, said it plans to increase its Daiso specialty store network in the territory and Mainland China despite losing US$60 million last year. Established in 1977 by Hirotake Yano, the discount retail chain has more than 3,600 stores in Japan and 2,300 international stores in 25 countries and regions, its biggest markets including South Korea, Thailand and the Philippines. See here for more: Daiso eyes increasing its US store network more than 10 fold - Inside Retail #smartdiscount #daiso #usa #expansion #100yen #growth #drc #discountretail #discountretailconsulting #consulting #retail

Supermarket private labels increased their share of food sales from 35.8% in the second half of 2021 to 37% in the year to May 2022, according to new data from IRI. A “price war” is likely to kick off on supermarket shelves in the first half of next year, analytics firm IRI predicts, as small and medium sized FMCG brands are increasingly squeezed by private labels amid the pressures of inflation. The “squeezed middle” is already losing volume and value, IRI finds. In the year-to-date (YTD) to May 2022, medium sized manufacturers had a 25.4% share of food sales, down from 26.1% in the second half of 2021. Similarly, small brands saw their share of food sales decline from 14.1% to 13.8%. Meanwhile, supermarkets’ private labels increased their share of food sales from 35.8% in H2 2021 to 37% over the YTD to May. Inflation has risen even further since then, and consumer concerns about the cost of living over the winter months is likely to drive an increasingly rapid move towards cheaper private label goods, IRI says. Indeed, NielsenIQ recently found that private label now accounts for 53% of FMCG spend, up from 52% a year ago. In addition, the research found that 27% of consumers say opting for own-brand products over brands will be one of the key ways they tackle the cost of living. Focus on your core range, recognise consumers are making very hard choices. Ananda Roy, IRI Concerningly, medium and small sized brands have fewer tools at their disposal than large manufacturers, including private labels, to mitigate the effects of inflation and this increasing competition, says Ananda Roy, international senior vice president of strategic growth insights at IRI. “The large national brands have availability; they’ve managed to meet spikes in demand and adjust to dips. They also have brand recognition,” Roy tells Marketing Week. Many larger brands have learned how to “avoid getting sucked into a price war”, he adds. “They focus on their core range. They justify the premium that consumers pay and are very clear on what makes them unique and differentiated.” Meanwhile, small and mid-sized brands are more affected by issues like supply shortages and energy costs, which impact their margins, Roy explains. Categories like alcohol and confectionary, where there will be a desire to liquidate stock after Christmas, are particularly likely to find themselves at war, IRI predicts. Retailers and brands will likely turn to lower prices to keep margins. Smaller, artisanal brands in categories like alcohol and cheese will be at risk of getting cut out completely from consumer baskets, says Roy. He gives the example of shoppers choosing to buy just cheddar rather than a variety of cheeses, as consumers look to cut out luxuries. “This is why we say focus on your core range, recognise consumers are making very hard choices,” he says. The best way to make your brand vulnerable to private label is to commodify it In a price war, there are no winners, Roy concludes. “Of course, in the short term consumers love this kind of scenario because they see a decline in prices, except that it is not sustainable for manufacturers and retailers.” Elsewhere, IRI’s head of manufacturers Steph Cullen says it will be those on the lowest incomes that are most feeling the impact of inflation and having to make the hardest choices. While the current rate of inflation in the UK is estimated to be 13.2%, it is more likely to be in the range of 18-20% in food retail, the firm estimates. “It’s the lowest income consumers that have actually seen the 18 to 20% inflation,” Cullen explains. “The more affluent shoppers, they can switch to a cheaper retailer. They can switch things out of their basket, by either choosing not to purchase at all, if it’s a discretionary item or switching to cheaper alternatives,” she adds, pointing out that many low-income shoppers were already doing these things before inflation kicked in. See here for more: https://www.marketingweek.com/fmcg-brands-head-for-price-war/

Discounters are known for their high productivity and a demand for high performances by their employees. Lidl introduces something quite revolutionary, the work sabbatical. After five years of service, Lidl employees have the option to request up to three months of sabbatical leave. The aim of offering a sabbatical to employees is to promote a good work-life balance by giving people the opportunity to take time off work with the guarantee that they will return to the same job afterwards. Every employee at Lidl can apply for an unpaid sabbatical of up to three months as long as they have worked five full years in the Schwarz Group, says a spokesman from Lidl. There is also the option of taking up to three months of sabbatical leave at half salary – depending on which country the employee works in. Some Lidl countries offer a 50/50 model, where it is possible to work full time on half salary for three months and then take three months off and still receive half salary. It is important to us that our employees take time to enjoy the important things in life such as family, travel, learning, and mental breaks, according to Lidl International. #smartdiscount #discountfoodretail #discounter #discount #foodretail #retail #drc #discountretailconsulting #retailconsulting #lidl #uk #work #sabbatical #consulting #consultancy

Discount Textile Retail Chain Ross Stores (NASDAQ:ROST) stock roared to a double-digit gain in after hours trading on Thursday after posting a stronger than expected Q3 report and raised full-year forecasts. The California-based off-price retailer reported US$1.00 in earnings per share for the third quarter alongside US$4.6B in sales. Analysts had anticipated $0.81 and $4.37B, respectively. Additionally, comparable store sales fell 3% from the prior year quarter, far better than the 8% decline expected by analysts. “Third quarter results were above our expectations as we delivered stronger values throughout our stores,” CEO Barbara Rentler commented. “Operating margin for the period was 9.8% versus 11.4% last year, reflecting the deleveraging effect from the comparable sales decline as well as pressure from higher markdowns and unfavourable timing of pack away-related costs.” Moving forward, Rentler remained very optimistic on the holiday sales season ahead. She noted that while promotional activity and inflation issues will linger into the quarter, the company is facing its “easiest sales and earnings comparisons in the fourth quarter” and feels confident in raising guidance. The retailer now expects Q4 same store sales to be flat to down 2% and earnings per share to be in the range of $1.13 to $1.26. As such, Reniter raised full-year forecasts to a range of $4.21 to $4.34, up from a prior $3.84 to $4.12. Analysts had expected $4.02. Shares rocketed 12.34% higher shortly after the print. “There remains a high level of uncertainty in today’s macroeconomic and geopolitical environment that continues to negatively impact consumer sentiment and demand,” Rentler concluded. “However, we remain confident in the off-price business model, which offers both value and convenience. Given consumers’ heightened focus on both of these attributes, it should bode well for our ability to expand our market share and profitability in the future.” See here for more: https://seekingalpha.com/news/3909430-ross-stores-stock-rips-higher-on-big-earnings-beat-bullish-guide #smartdiscount #ross #usa #profit #stocks #drc #discountretail #discountretailconsulting #consulting #rise #discounter