November is drawing to a close with Black Friday kicking off a monster shopping weekend. But it’s time to look back on the big stories from this week.
FMCG brands and online retailers are taking part in Black Friday this weekend, with discount grocer Aldi getting ahead of the action last Wednesday. The discount grocer is offering tomorrow discounted Special Buys products such as household items, kids toys and pet products. Amazon Australia is celebrating on Black Friday and Cyber Monday with Deals of the Day across all categories. Nespresso, Chemist Warehouse, Priceline Pharmacy, Cellarmasters, and Vineful also joined the popular sale day.
Woolworths CEO Brad Banducci will forgo his A$2.6 million bonus this year and chairman Gordon Cairns will take a 20 per cent cut to his A$790,531 board fee for letting down team members. The pair said the priority is ensuring employees receive the money owed as soon as possible.
Priceline Pharmacy unveiled a click-and-collect service in selected Victorian stores. It will gradually deploy the new service to over 250 stores by the end of March 2020. The service will allow customers to order over 15,000 brands and cult products online and pick up the items in-stores two hours later.
Lion and parent company, Kirin Holdings, reached an agreement with Mengniu Dairy to sell its brands such as Dairy Farmers, Dare, Farmers Union, Pura, Berri, Daily Juice and The Juice Brothers. The deal includes LD&D’s international business, its share of joint ventures Vitasoy Australia Products and Capitol Chilled Foods Australia and the licensing agreement for Yoplait.
Caltex Australia received a $8.6 billion takeover offer from Canadian convenience store operator Alimentation Couche-Tard Inc. to acquire all shares in the company. The offer was “unsolicited, conditional, confidential, non-binding and indicative”, according to the petrol company. The discussions between Caltex and ACT are at a preliminary stage.
That’s it for this week. Have a good weekend!