Food Retail

Mission Produce's Marketing and Distribution segment posted third-quarter fiscal 2026 sales of $414.3 million, up from $344.1 million a year earlier, with adjusted EBITDA rising to $24.7 million from $20 million. The company sold roughly 253 million pounds of avocados in the quarter, up 38% year over year, lifted by the Calavo acquisition and growth in its legacy business, though lower average selling prices partly offset the gain. A more balanced sourcing mix across Mexico, California and Peru helped per-unit margins recover sequentially from the fiscal second quarter, and Mission Produce increased its estimated U.S. retail market share by about 60 basis points year to date. Management said added packing capacity in Mexico and California and complementary customer relationships from the Calavo combination could drive meaningful market-share gains between 2027 and 2030. The Zacks Consensus Estimate points to a 17.7% year-over-year decline in AVO's fiscal 2026 earnings and 29.2% growth in fiscal 2027, with the stock carrying a Zacks Rank #2 (Buy).

Kroger is launching a new Kroger Rewards Elite Mastercard powered by the payments platform Imprint. Imprint said its AI-powered platform delivers tailored programs that drive measurable increases in engagement and spend, and Kroger shoppers can earn point multipliers for groceries, fuel, and dining. Imprint CEO Daragh Murphy will join NYSE Live to discuss the partnership and new growth opportunities for his company. The announcement came as part of the NYSE's pre-market update, which also noted the inaugural Fortune AIQ Summit taking place today at the NYSE under the theme 'Putting AI to work,' following the release of the 2026 Fortune AIQ 75 power list by Fortune and ServiceNow. In markets, the 10-year Treasury yield rose to 5.34%, its highest level since April 2002, with the September jobs report due Friday ahead of the market open.

Life Corporation announced on September 8 that it will launch a tender offer for Albis, a food supermarket chain based in the Hokuriku region, and make it a consolidated subsidiary. This is Life's first acquisition of a rival supermarket, with the purchase price reaching up to 26.3 billion yen. Life's main trading areas are the Tokyo metropolitan area and the Kinki region, while Albis is based mainly in Toyama Prefecture and the Hokuriku region, and has already expanded into Aichi and Gifu Prefectures, so the two companies' store networks barely overlap. The acquisition would bring Life and Albis's combined sales to roughly 980 billion yen on a simple sum basis, making it a deal that symbolizes the race among food supermarkets to reach the 1 trillion yen mark. Conventional distribution realignment has been based on the dominant strategy of concentrating store openings, but a movement is now beginning to leapfrog trading areas and bring in companies that are strong in those regions.

Kobe Bussan, which operates the Gyomu Super chain, announced on the 29th that it will repurchase up to 16 million shares, or 7.21% of its outstanding shares, for up to 40 billion yen. The acquisition period runs from the 30th to April 30, 2027. The company said the move is aimed at expanding shareholder returns, as well as easing the short-term impact on share supply and demand from the issuance of euro-yen convertible bonds with new share warrants, maturing in 2033, which was approved the same day, and ensuring smooth fundraising.

Mission Produce's AVO avocado business sold approximately 253 million pounds of avocados in its fiscal third quarter, up 38% year over year, helped by the addition of Calavo and growth in the legacy Mission Produce business. U.S. retail avocado volume rose about 9% even as the average retail price climbed approximately 15% sequentially, and U.S. avocado consumption stayed above 10 pounds per capita year to date, up 12% from last year, with household penetration improving by roughly 50 basis points. AVO's legacy U.S. retail market share also increased by approximately 60 basis points year over year. Management said greater sourcing flexibility from California and Peru improved the operating environment versus the preceding quarter, and that future volume growth will depend on converting expanded sourcing and distribution into deeper customer relationships without sacrificing unit economics. Separately, Corteva's second-quarter volume fell 3% year over year on seasonal timing and acreage shifts, while Dole's Diversified Fresh Produce Americas and Rest of World segment revenue rose 13.9% and adjusted EBITDA advanced 33.8%.

BofA Securities has named Tesco and Marks & Spencer as its two buy-rated top picks in its latest Pan European Food Retailing report, citing resilient grocery demand, strong execution and further growth opportunities. The broker kept price objectives of 540p for Tesco and 440p for M&S. For Tesco, BofA forecasts second-quarter group revenue growth of 2.6%, with UK sales up 2.6%, and first-half adjusted operating profit of £1.73 billion, up 1.5% year on year, implying a 10 basis point margin contraction; it raised its FY27 to FY29 EPS estimates by around 1%. For M&S, BofA expects first-half revenue to rise 13% to £8.98 billion, with adjusted PBT of £396 million versus £184 million a year earlier, and upgraded its Food sales forecasts to £19.1 billion for FY27 and £20.0 billion for FY28, increases of 3% and 4.3% respectively. The broker flagged Fashion, Home & Beauty as the main area of caution, saying the next phase of the turnaround will be more demanding, but maintained its buy rating and 440p price objective with Food as the primary driver of valuation upside.

Pi Securities said in a strategy analysis that the current flood situation is far removed from 2011, because in 2011 Thailand faced La Niña with above-normal rainfall that covered as many as 74 provinces, including economic zones and especially the industrial estates around Ayutthaya. But the current round pressures only some areas of Bangkok and nearby provinces, with water levels starting to recede and government agencies assessing that travel is close to returning to normal. In the short term, the impact on tourism and consumption is seen as slight, because part of the effect is offset by a boost from food stockpiling. Statistics from 2011 show that the groups that outperformed during the event were Healthcare at -1.4%, ICT at -5.1%, REIT at -7.5% and Commerce at -12.6%, while the underperformers were PETRO at -43%, PACK at -42% and ETRON at -34%. But one month after the situation eased, the outperformers were PETRO at +32%, construction materials at +22% and Pack at +18%. Pi Securities recommends buying CPALL with a target of 61 baht, seeing same-store sales growth and profit in the second half of 2026 as not much affected by the Thai Chuay Thai Plus scheme, based on same-store sales growth in June 2026 that held steady year on year, together with gradually improving consumer purchasing power. It also recommends buying TU with a target of 15.4 baht, as the second half of 2026 has several positives: the peak export period, a weaker baht, and Britain cutting its import tax on Thai tuna to 0% from 24%, which will support continued revenue growth.

Pi Securities Public Company Limited, or PI, stated that the current flood situation is far from the crisis of 2011. In 2011, Thailand faced a La Niña phenomenon that pushed rainfall above normal and affected as many as 74 provinces, covering economic zones and industrial estates around Phra Nakhon Si Ayutthaya. This time, however, pressure is limited to only some areas of Bangkok and nearby provinces. Most recently, water levels have begun to recede and government agencies expect travel to return to normal soon. As for short-term impact, the brokerage views it as likely to pressure the tourism and consumption sectors only slightly, since part of the economy is still supported by food stockpiling. Based on statistics from 2011, the sectors that outperformed the market were healthcare, communications or ICT, real estate investment trusts or REITs, and commerce. The sectors that underperformed the market were petrochemicals, packaging, and electronic components. However, one month after the situation eased, the sectors that returned to outperforming the market were petrochemicals, construction materials, and packaging. On investment strategy, the brokerage recommends buying CP All Public Company Limited, or CPALL, with a target price of 61 baht, viewing that same-store sales and profit trends in the second half of 2026 will not be much affected by the Thai Help Thai Plus scheme, based on same-store sales figures in June 2026 that remained steady compared with the same period a year earlier, together with a gradually improving trend in consumer purchasing power. At the same time, it also recommends buying Thai Union Group Public Company Limited, or TU, with a target price of 15.40 baht, expecting several positive factors to support the second half of 2026, whether the peak export season, a weakening baht, or Britain's reduction of its import tax on Thai tuna to 0% from 24%. All of these factors will help drive TU's revenue to rise continuously.

Yesway announced it is bringing the Allsup's brand to Arizona for the first time, expanding the company's operating footprint into its 10th state. With the opening of the Willcox location on October 2, Yesway will operate 453 stores across 10 states, strengthening its presence across the Southwest. The company sees its first investment in Arizona as the beginning of a meaningful and growing presence in the state, calling Arizona an important component of its broader new-store development strategy, which is currently concentrated in Arizona, Oklahoma, New Mexico, and Texas. CEO Tom Trkla called the opening one of the most significant milestones in Yesway's history since the company was founded in 2015, adding that the Allsup's operating model is particularly well suited to the state's rural and suburban communities. Yesway has developed and opened more than 90 new-to-industry stores over approximately the past five years, complementing growth through strategic acquisitions and continued investment in its existing store base. Shares of Yesway were down 0.8% in Thursday morning trading to $19.73; the IPO was priced at $20 per share on April 22 and has traded as high as $29.08.

Casey's General Stores reported inside same-store sales growth of 3.2% year over year in the first quarter of fiscal 2027, with total inside sales up 5.6% to $1.78 billion and inside gross profit climbing 6.3% to $749.8 million. Prepared food and dispensed beverages led the gains with same-store sales up 4.8%, as management said traffic rather than higher prices accounted for most of the growth, and whole-pizza unit sales rose nearly 10% to lift category revenues 7.4% to about $493 million. Grocery and general merchandise same-store sales grew 2.7%, driven chiefly by nonalcoholic beverages, with energy drinks and nicotine alternatives recording double-digit growth while weaker beer sales weighed on the category. Inside margin reached 42.2%, up 30 basis points, as prepared food made up more of the sales mix, and the prepared food and dispensed beverage margin rose to 59.3% from 58% on lower cheese costs and a change in distribution cost allocation. Casey's maintained its fiscal 2027 forecast for inside same-store sales growth of 2-5% and an inside margin above 42%, noting that remodeling of former CEFCO stores created a modest headwind to quarterly comparable sales.

Hongqi Chain's newly built digital convenience service platform 'Hongqi You Life' has officially joined Shuguanghui, Sichuan's state-owned digital consumption service platform, marking resource interconnection, scenario co-construction, and traffic sharing between the two major local consumption service platforms under Sichuan Commercial Investment Group. Hongqi Chain's more than 3,000 directly-operated store resources in Sichuan Province will be connected to Shuguanghui, and the system can match store products nearby based on user location. After joining, 'Hongqi You Life's' product supply chain, fulfillment and delivery system, and community terminal outlets will be fully integrated into Shuguanghui's public consumption service system. Consumers can place orders for Hongqi You Life products on the Shuguanghui platform, with support for in-store pickup or home delivery. Shuguanghui is an official digital consumption comprehensive service platform built with priority by Sichuan provincial state-owned assets, focusing on promoting consumption, benefiting people's livelihoods, revitalizing commerce, and promoting Sichuan goods. It undertakes employee welfare expense control management, consumption incentive policies, and distribution of consumer subsidies for grassroots trade unions and government, public institution, and enterprise employees. The two sides will regularly carry out joint activities such as consumer promotions, stacking of consumption subsidies, and promotion of specialty Sichuan goods, building a digital livelihood consumption closed loop of 'online platform empowerment, offline physical fulfillment'.

Casey's General Stores reported a 27.7% jump in fiscal 2027 first-quarter EPS and kept its full-year guidance intact, yet the stock sold off as Wall Street debated whether the beat was driven by sustainable growth or an unusually strong fuel margin. Fuel margin reached 47.8 cents per gallon, up 6.8 cents year-over-year, pushing fuel gross profit 19.6% higher to $446.9 million, while fuel same-store gallons slipped 0.3%. Inside the stores, Prepared Food & Dispensed Beverages same-store sales rose 4.8% with a 10.7% two-year stack and gross margin expanding 130 basis points to 59.3%, lifting total inside gross profit 6.3% to $749.8 million. Analysts reset targets in both directions: BofA cut to $875 from $975 with Buy, Stephens cut to $750 from $975 with Overweight, Goldman Sachs lowered to $750 from $795 with Neutral, UBS reduced to $720 from $925 with Neutral, and JPMorgan lowered to $687 from $833 with Neutral, while Deutsche Bank raised to $933 from $927 with Buy and RBC lowered to $910 from $913 with Sector Perform. CEFCO remodeling disrupted roughly 1% of the store base in Q1, and management expects the next tranche to create an even larger drag before benefits emerge, potentially not until Q4. Latest 13F filings showed AQR Capital Management increasing its stake 195% to 213,943 shares, GLG Partners raising its position 73% to 138,999 shares, and Arrowstreet Capital initiating 126,911 shares, while Marshall Wace and Quantinno Capital each trimmed holdings by about 1%.

DBS Vickers Securities (Thailand) issued an analysis of CP All Public Company Limited, or CPALL, taking a positive view on this year's second-half profit outlook, which is expected to keep expanding, supported by same-store sales growth, or SSSG, of about 2% in the third quarter of 2026 on hot weather, extended alcohol sales hours, and tourist numbers. The fourth quarter of 2026 is expected to get a boost from the high season and economic stimulus measures. The research team estimates 2026 revenue could grow 2% year on year toward its target, driven by the opening of 700 new branches and SSSG of about 1.5% to 2.0%. It also noted that ALL PharmaSee, an online professional pharmacist consultation service available through the 7App of 7-Eleven, is an upside to margins, given a gross profit margin of about 40% in the pharmaceutical group, higher than the 28% for general products, and this is not yet included in its estimates. The research team maintained its full-year 2026 profit forecast at 33 billion baht, up 18% year on year, and its 2027 forecast at 35 billion baht, up 6% year on year, while keeping a Buy rating on CPALL with a target price of 63.00 baht. The stock traded at 44.50 baht in the morning, down 0.25 baht, or 0.56%, with turnover of 379.27 million baht.

DBS Vickers holds a positive view on CPALL's profit outlook for the second half of 2026, keeping its 2026E and 2027E profit forecasts at 33 billion baht and 35 billion baht, growing 18% and 6% year on year respectively. The first half performed better than expected and accounted for about 50% of the full-year forecast, supported by third-quarter 2026 same-store sales growth still positive at around 2% on hot weather, extended alcohol sales hours, and tourist numbers. The fourth quarter is expected to get a boost from the high season and the end of the co-pay scheme. On revenue, 2026E has a chance to grow 2% year on year in line with target, driven by 700 new store openings and same-store sales growth of about 1.5% to 2.0%, plus a higher share of high-margin products that continues to support gross profit margin. DBS Vickers noted that ALL PharmaSee is an upside to margin, with the pharmacy group's gross margin of around 40%, higher than 28% for general products, and is not yet included in forecasts, with potential to increase its sales share through the 7-Eleven and 7App networks. The research house maintains its Buy rating with a target price of 63.00 baht, based on a 2026E price-to-earnings ratio of 17.0x, which is 1.1 standard deviations below the five-year average, and views that the share price has not yet reflected the continued improvement in operating results, including 2026E profit that is expected to hit a new high.

Daiwa Securities Thailand has maintained its Buy rating on CP All, or CPALL, with a target price of 63.00 baht, based on a 2026 PER of 17 times. It expects the profit trend in the second half of 2026 to continue expanding, driven by same-store sales in the third quarter of 2026 rising about 2%, supported by hot weather, extended alcohol sales hours, and tourist numbers. The fourth quarter of 2026 is expected to get a boost from the high season and the end of the co-pay scheme. Revenue in 2026 has a chance to grow 2% from the previous year, in line with target, driven by the opening of 700 new branches and same-store sales growth of about 1.5% to 2.0%. The ALL PharmaSee pharmacy business is an upside to margin, given gross margins in the drug segment of about 40%, higher than the 28% for general merchandise, and this is not yet included in the estimates. Daiwa keeps its 2026 and 2027 profit forecasts at 33 billion baht and 35 billion baht, up 18% and 6% from the previous year respectively, with the first half of 2026 performing better than expected and accounting for about 50% of the full-year estimate.

Krungsri Securities assesses that the government is likely to extend the measure increasing the credit limit on the state welfare card for another two months, in October through November. Lavaron Sangsnit, Permanent Secretary of the Ministry of Finance, disclosed that after the government is likely to approve the Thai Chai Thai Plus measure, which is expected to be submitted for Cabinet approval on September 22, low-income earners under the state welfare card program must also be assisted, by topping up funds for purchasing consumer goods through Thong Fah shops, maintaining the increased limit at 1,000 baht per person per month, up from the normal level of 300 baht per person per month, continuing the original measure that raised the limit to this level from June through September. This is seen as positive for TNP, which is a shop that directly participates in the program, as well as for KK MOTHER, with revenue from the program accounting for 8-10% of total revenue, and it makes the outlook for the fourth quarter of 2026 more positive. Initially, SSSG for the fourth quarter of 2026 is estimated at around -2% year-on-year, and 2026 profit is estimated at 204 million baht, down 4% year-on-year. There is still upside risk of around 10% from better-than-expected SSSG, with 2026 SSSG estimated at +3% year-on-year against the assumption set at -3% year-on-year, where every 1% increase in SSSG affects 2026 profit by around 1.5%. In the short term, third-quarter 2026 profit is expected to grow the strongest at 15% year-on-year and 1% quarter-on-quarter to 55 million baht, from an expected SSSG of +13% year-on-year after benefiting from the measure for a full quarter, including the opening of eight new branches during the fourth quarter of 2025 through the third quarter of 2026, leading revenue to be expected to rise 23% year-on-year and 5% quarter-on-quarter. Although gross margin is expected to weaken from product mix, with essential goods carrying low margin, the stock is attractive on valuation, trading at a 2026 forecast PER of 11.2 times, below the sector average of 14 times, and it has a strong financial position as net cash. Recommend Buy with a 2027 target price of 3.88 baht, based on a PER of 14 times, close to the sector average.

Mother Marketing Public Company Limited, or MOTHER, a retail and wholesale consumer goods operator under the Mother Supermarket and Mother Marche brands in Krabi, Phang Nga and Surat Thani provinces, expects revenue in the fourth quarter of 2026 to grow steadily in line with its targets, driven by the year-end tourism high season. Managing Director Ekapong Chokchaiwittat said the Krabi Provincial Office of Tourism and Sports forecasts that more than 5.2 million tourists will visit in 2026, generating more than 100 billion baht in revenue, with at least 20 billion baht expected to circulate during the year-end high season in particular. This will significantly boost sales at each branch in tourism areas. Meanwhile, in late November, airlines from the Scandinavian countries are preparing to launch new direct routes to Krabi: Finnair on the Helsinki-Krabi route and Scandinavian Airlines on the Copenhagen-Krabi route, each operating two flights per week. Ekapong said this will provide additional support to stimulate the local economy and help MOTHER's revenue expand in line with its operational plans.

High Tide Inc. reported record fiscal third-quarter revenue of C$198.8 million on September 14, up 33% year over year, while operating income rose 133% to C$8.7 million for the quarter ended July 31, 2026. Despite that profit growth, net cash provided by operating activities slipped to C$10.1 million from C$10.7 million a year earlier, as working capital absorbed C$1.8 million compared with a C$2.4 million release a year earlier, an approximately C$4.2 million unfavorable swing. Operating cash flow before changes in non-cash working capital rose 44% to C$11.9 million, and for the first nine months operating cash flow reached C$20.4 million versus C$19.6 million a year earlier. The company opened four Canadian stores and acquired four more during the quarter, and its German medical-cannabis subsidiary Remexian generated C$38.2 million in revenue, up from C$31.6 million sequentially, distributing 10.2 tonnes, a 35% sequential increase. High Tide also reported C$7.0 million in company-defined non-IFRS free cash flow, down from C$7.7 million a year earlier, while quarterly same-store sales at Canna Cabana were flat.

Mother Marketing Public Company Limited, or MOTHER, which operates retail and wholesale consumer goods businesses under the Mother Supermarket and Mother Marche brands in Krabi, Phang Nga, and Surat Thani provinces, expects its fourth-quarter 2026 results to grow on the back of the year-end high season. Managing Director Ekapong Chokchaiwittat said the launch of new direct flight routes by Scandinavian airlines will provide an additional boost to the local economy. The Krabi Provincial Office of Tourism and Sports forecasts that more than 5.2 million tourists will visit Krabi in 2026, generating more than 100 billion baht in revenue, with the year-end high season alone expected to see at least 20 billion baht in circulation as part of that full-year figure. This is expected to significantly increase sales at each branch in tourist areas. Meanwhile, in late November, Finnair will launch a direct Helsinki-Krabi route and Scandinavian Airlines will launch a direct Copenhagen-Krabi route, operating two flights per week.

Mother Marketing Public Company Limited, or MOTHER, expects revenue in the fourth quarter of 2026 to continue growing in line with its target, driven by the year-end high-season tourism market and foreign visitors arriving in Krabi province. Ekapong Chokchaiwittan, Managing Director of MOTHER, disclosed that the Krabi Provincial Office of Tourism and Sports forecasts that in 2026 there will be more than 5.2 million tourists, generating more than 100 billion baht in revenue, with the year-end high season expected to see at least 20 billion baht in circulation, which will significantly boost sales at each of the company's branches in tourist areas. In addition, at the end of November, airlines from the Scandinavian countries are preparing to launch new direct routes into Krabi province, namely Finnair on the Helsinki-Krabi route and Scandinavian Airlines on the Copenhagen-Krabi route, operating two flights per week, reflecting Krabi Airport's readiness to handle international flights and providing further impetus to stimulate the local economy, supporting MOTHER's revenue growth in line with its operational plan.

Mother Marketing Public Company Limited, or MOTHER, a retailer and wholesaler of consumer goods under the Mother Supermarket and Mother Marche brands in Krabi, Phang Nga and Surat Thani provinces, expects sales in the fourth quarter of 2026 to continue growing. Managing Director Ekapong Chokchaiwittat said the main driver is the year-end high tourism season, as foreign visitors arrive in Krabi. The Krabi Provincial Office of Tourism and Sports forecasts that 2026 will see more than 5.2 million tourists, generating more than 100 billion baht in revenue, with the year-end high season alone expected to see at least 20 billion baht in circulation, significantly lifting sales at each branch in tourist areas. Meanwhile, in late November, airlines from the Nordic countries are preparing to launch new direct routes into Krabi: Finnair on the Helsinki-Krabi route and Scandinavian Airlines on the Copenhagen-Krabi route, each operating two flights a week, reflecting Krabi airport's readiness to handle international flights. Ekapong said the new direct routes will provide an added boost to the local economy and help MOTHER's revenue expand in line with its operating plan.

Ekapong Chokchaiwittan, Managing Director of Mother Marketing Public Company Limited, or MOTHER, a retail and wholesale consumer goods business operating under the Mother Supermarket and Mother Marche brands in Krabi, Phang Nga and Surat Thani provinces, said the business outlook for the fourth quarter of 2026 is expected to continue growing, driven by late-year high-season tourism as foreign visitors arrive in Krabi. The Krabi Provincial Office of Tourism and Sports forecasts that in 2026 more than 5.2 million tourists will visit, generating more than 100 billion baht in revenue, with the late-year high season alone expected to see at least 20 billion baht in spending, significantly lifting sales at each branch in tourist areas. Meanwhile, in late November, airlines from the Scandinavian countries are preparing to launch new direct routes into Krabi: Finnair on the Helsinki-Krabi route and Scandinavian Airlines on the Copenhagen-Krabi route, each operating two flights per week, reflecting Krabi airport's readiness to handle international flights. Ekapong said the late-year high season is an important opportunity that helps boost purchasing power from foreign tourists, and the launch of new direct routes by the Scandinavian airlines will be an added force stimulating the local economy and keeping it lively, supporting MOTHER's revenue growth in line with its operating plan.

Analysts expect the retail and wholesale sector to benefit from the government's plan to consider extending the Thai Chai Thai Plus programme by another one to two months. Wilasinee Boonmasoongson, assistant managing director at Global Securities, or GBS, said the stocks expected to gain include Thanapiriya Public Company Limited, or TNP, K&K Superstore Southern Public Company Limited, or KK, and Mother Marketing Public Company Limited, or MOTHER. The research team holds a positive view on TNP, expecting second-half 2026 operating results to grow on from a positive second quarter of 2026, after same-store sales growth, or SSSG, turned back up by 4.9% from still-negative levels in April before starting to recover in May, supported further by the increase in the state welfare card spending limit from June to September. TNP plans to expand to 64 branches, and under its JUMP+ plan aims to open about 30 more branches by the end of 2028, or roughly 10 per year. The research team estimates TNP will post revenue of 3.396 billion baht in 2026, growing about 10% from a year earlier, and net profit of 229 million baht, up about 8% year on year. For the six months of 2026, TNP recorded sales revenue of 1.62397 billion baht, an increase of 158.58 million baht, or 10.82%, from the same period a year earlier, and net profit of 103.59 million baht.

Kroger is betting on private-label brands to lower prices and protect margins, a strategy Costco has long used with its Kirkland Signature label. On the chain's second-quarter earnings call, CEO Gregory Foran said Private Selection sales rose more than 14% during the quarter, driven by strong customer response to new products including more ready-to-heat and ready-to-eat meals, and that brand sales across the portfolio grew faster than national brands with penetration up approximately 50 basis points. Kroger also plans to expand SmartWay, its opening price point brand, with more items, broader coverage across the store, and improved visibility in store and online. Data from Numerator cited by Retail Dive shows Kroger's private-label sales in produce, meat, seafood, deli and prepared foods, and in-store bakery rose by about $420 million over the 12-month period ended July 31. The push comes as an August NielsenIQ study found 58% of consumers don't care whether a product is a national brand or private label, 68% view private-label products as a good alternative to national brands, and 69% believe they offer good value for money, while Circana data puts U.S. private-label sales at $330 billion, a 24% unit share and 23% dollar share of the total market.

High Tide reported record third-quarter fiscal 2026 results, with revenue rising 33% year over year and 11% sequentially to CAD 198.8 million for the quarter ended July 31, 2026. Adjusted EBITDA increased 52% from a year earlier and 17% sequentially to CAD 16.2 million, an 8.2% margin that was the company's highest in 12 quarters, while operating income totaled CAD 8.7 million and reported net income reached a record CAD 12.7 million. Chief Executive Officer Raj Grover said the quarter was the strongest financial performance in company history, and Chief Financial Officer Mayank Mahajan noted consolidated gross margin held at 27%, with brick-and-mortar at 27% and medical cannabis distribution at 26%. High Tide generated CAD 7 million in free cash flow, its best in four quarters, and operated 232 Canna Cabana stores in Canada, on track to add 20 during calendar 2026 toward a long-term goal of 350 locations. Its German Remexian medical cannabis distribution business sold 10.2 metric tons, up 35% sequentially, generating CAD 38.2 million in revenue and CAD 4.4 million in adjusted EBITDA, and management said it is evaluating international opportunities including the United Kingdom while prioritizing disciplined deal-making in Canada and Germany.

Bank of America reiterated a Buy rating on Casey's General Stores while lowering its price objective to $875 from $975, arguing the roughly 14% post-earnings selloff has created an opportunity. Analyst Lisa K. Lewandowski said the reduced target reflects near-term remodeling noise, a cautious U.S. consumer, and a recent re-rating across convenience-store stocks, though the new target still implies about 39% upside from the $629.03 share price listed in the Sept. 9 note. Casey's reported fiscal first-quarter diluted earnings of $7.37 per share, up 27.7% from a year earlier, with net income climbing 27.1% to $273.7 million and EBITDA up 17.1% to $485.1 million; inside same-store sales rose 3.2% on a 42.2% inside margin, while fuel gross profit increased 19.6% to $446.9 million on a fuel margin of 47.8 cents per gallon. The company left its fiscal 2027 outlook unchanged, still expecting inside same-store sales growth of 2% to 5%, an inside margin above 42%, EBITDA growth of 8% to 10%, and at least 120 new stores through acquisitions and new construction. BofA estimates the conversion of acquired CEFCO stores, which require roughly four to six weeks of closures for kitchen and other upgrades, cut first-quarter inside same-store sales by about 25 basis points and fuel sales by about 50 basis points, a drag expected to continue through the fiscal third quarter, though remodeled locations typically see sales rise about 30% once reopened. BofA also raised its earnings estimates, forecasting EPS of $21.77 in fiscal 2027, $24.06 in fiscal 2028, and $26.64 in fiscal 2029, with the $875 target based on 18.9 times projected fiscal 2028 enterprise value to EBITDA.