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Costco August net sales rise 6.9%; Walmex monthly sales up 7.7%

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Costco August net sales rise 6.9%; Walmex monthly sales up 7.7%

TOP NEWS

* Costco Wholesale Corp. net sales in August rose 6.9% to $11.79 billion from $11.03 billion in the same month a year ago. For the fourth quarter of fiscal 2019, the company posted net sales of $46.45 billion, up 7% from $43.41 billion reported in the year-ago period.

* Wal-Mart de México SAB de CV said total consolidated sales for the month of August grew 7.7% year over year to 52.68 billion Mexican pesos. The Mexican unit of U.S. retailer Walmart Inc. said total sales in Mexico rose 7.4% year over year to 43.03 billion pesos during the month.

FOOD RETAIL & DISTRIBUTION

* Kroger Co. unveiled an array of plant-based food products under the private label Simple Truth. The Simple Truth Plant Based collection, which includes animal-free items such as burger patties and pasta sauces, will be rolled out in stages through 2020.

* Dutch grocer Koninklijke Ahold Delhaize NV is trialing a fully digital, checkout-free Albert Heijn store called AH to go. The 14-square-meter outlet, located in front of the chain's support office in Zaandam, Netherlands, will be tested with associates over the next two months.

* Alimentation Couche-Tard Inc. and motor fuel distributor CrossAmerica Partners LP said they executed the second tranche of an asset exchange program that they now expect to be completed sooner than expected. In the latest exchange, the Canadian convenience store operator transferred 56 convenience and fuel retail stores worth about $50.2 million to CrossAmerica. In return, CrossAmerica transferred to Couche-Tard assets worth $51.4 million, including the real property for 19 master lease properties.

BEVERAGES

* Belgian brewer Anheuser-Busch InBev SA said its three-year sales ban in New Delhi amid tax evasion allegations will substantially impact its business in the city, Reuters reported, citing a court filing. The company, which did not disclose any specific loss figure, reportedly said it would "face substantial adverse impact on its business operations and livelihood in Delhi and is in fact incurring losses due to black listing."

* Starbucks Corp. will open a pick-up-only concept store in New York's Manhattan district this fall, Bloomberg News reported, citing CEO Kevin Johnson. The coffee chain reportedly plans to pattern the Manhattan store after its Starbucks Now concept in China where customers can order in advance using their mobile phones and claim their items at a specialty store without having to wait.

* Fomento Economico Mexicano SAB de CV Chairman Jose Antonio Fernandez Carbajal said the beverage retailer and bottler plans to spend 61.88 billion Mexican pesos in its home market from 2019 through 2021, creating about 41,000 direct jobs, Reuters reported, citing local newspapers El Universal and El Financiero.

* British pub operator Greene King PLC said its like-for-like sales across its business for the 18 weeks to Sept. 1 were down 1.8%, while its comparable sales in its pubs grew 1.5%.

TOBACCO & SMOKING PRODUCTS

* The New York State Department of Health has identified 34 cases of severe pulmonary illnesses linked to the use of at least one cannabis-containing vape product as well as various vape products.

PACKAGED FOODS

* Meat processor Tyson Foods Inc. said it completed an investment in plant-based seafood-maker New Wave Foods Inc. for an undisclosed sum.

* BRF SA sold its 49% shareholding in Singaporean meat processor SATS BRF Food PTE Ltd. back to the company's parent, SATS Food Services PTE Ltd., for S$17 million. The transaction includes the execution of a new contract related to the distribution and licensing of BRF's brands.

* Chicago-based private investment firm HC Private Investments made a strategic investment in Epicurean Butter, a finishing butter manufacturer. Epicurean Butter co-founders Janey and John Hubschman will continue in senior leadership roles and retain a minority stake in the company.

* The Australian Competition and Consumer Commission said it opposes the acquisition of chilled ready meals manufacturer Jewel Fine Foods by peer B&J City Kitchen, adding that the deal is likely to concentrate the "manufacturing capacity of chilled ready meals in one business."

* Australia's Bega Cheese Ltd. is investing about A$1 million in on-the-go breakfast foods company Hummingbird Superfoods Pty. Ltd., The Australian Financial Review reported. The deal will allow Bega to license the Hummingbird Superfoods brand.

RESTAURANTS

* U.S. burger chain Red Robin Gourmet Burgers Inc. said it appointed Paul Murphy III as its president and CEO, effective Oct. 3. Murphy will succeed Pattye Moore, who served as the interim CEO.

* McDonald's Corp. said it has teamed up with Grubhub Inc. to make McDelivery available on the food delivery marketplace's platform in New York City and the tri-state area. Grubhub will start delivering orders from about 500 McDonald's restaurants in those areas through the app's marketplace and its New York brand, Seamless.

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The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, the Hang Seng rose 0.66% to 26,690.76, and the Nikkei 225 rose 0.54% to 21,199.57.

In Europe, around midday, the FTSE 100 was down 0.8% to 7,265.62, and the Euronext 100 was down 0.18% to 1,080.49.

On the macro front

The employment situation report, the quarterly services survey and the Baker-Hughes Rig Count report are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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