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December 22, 2020updated 11 Nov 2021 12:29pm

Portugal’s AdC fines six food retail chains for price fixing

Portuguese competition authority Autoridade da Concorrência (AdC) has fined six food retail chains a total of €304m for price fixing.

Portuguese competition authority Autoridade da Concorrência (ADC ) has fined six food retail chains a total of €304m for price fixing.

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The six retailers are Modelo Continente , Pingo Doce , Auchan , Intermarché, LIDL and Cooplecnorte (E.Leclerc ).

Suppliers Sociedade Central de Cervejas (SCC ) and Primeddrinks have also been fined for the illegal practice.

Modelo Continente , which is owned by Sonae, was fined €122m and Jeronimo Martins-run Pingo Doce €91m.

Auchan and Intermarche were fined €22m and €19m, respectively.

According to the regulator, the illegal practises of increasing prices took place between 2008 and 2017 and affected various drinks including beers and waters.

Additionally, they also fixed prices on wine and hard liquor from Primedrinks’ portfolio between 2007 and 2017.

ADC in a statement said: “Through a common supplier, companies ensured the alignment of sales prices to the public, thus restricting price competition between supermarkets and depriving consumers from the benefits of price differentiation.

“The sanctioned practice, referred to in competition terminology, as “hub-and-spoke”, is considered very serious and harmful to consumers since it deprives them of choice at the best price.

“These are the first decisions in Portugal for a “hub-and-spoke” practice and sanction groups which represent the most important part of the large retail distribution market, thus affecting the majority of the Portuguese population.”

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
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