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Air Canada and Hyatt Show Where Loyalty Partnerships Are Heading

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Retail Insider
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Photo: Air Canada

By Larry Leung, Founder and Experience-in-Chief, Transformidy™

Air Canada’s Aeroplan® and World of Hyatt® announced a new loyalty partnership last month, giving members new ways to earn, convert and redeem rewards across both programs. Most of the partnership is already live, with additional reciprocal elite-status opportunities expected later this year.

For frequent travellers, the announcement expands the value of two established loyalty programs. For retailers and loyalty professionals, it also provides an instructive example of how partnerships are evolving into broader customer ecosystems that extend across multiple brands and touchpoints.

Members can now link their Aeroplan and World of Hyatt accounts, earn rewards across both programs, convert points between ecosystems and access reciprocal elite-status benefits. Eligible Aeroplan Premium Credit Cardholders receive complimentary World of Hyatt Discoverist status, additional earning opportunities and annual status challenges. Eligible World of Hyatt members receive annual Air Canada flight credits, while eligible Explorist and Globalist members are expected to gain access to Aeroplan Elite Status challenge opportunities later in 2026.

The list of new benefits is substantial, but the larger story lies in how Air Canada and Hyatt are approaching customer relationships. They are working to connect separate parts of the travel experience into a journey that feels cohesive from beginning to end.

Air Canada’s Scott O’Leary described the partnership as creating “meaningful value across the full travel journey,” while Hyatt’s Laurie Blair spoke about making travel more seamless. Those comments are expected in a partnership announcement, but they also reflect a broader business objective. The two companies are attempting to connect flights, hotel stays and payment experiences into a relationship that feels continuous instead of fragmented.

A traveller may fly with Air Canada, stay at a Hyatt property, pay with an Aeroplan credit card, earn rewards in both programs and later redeem within either ecosystem. Behind the scenes, that experience depends on multiple systems, policies and organizations working together. When those elements function smoothly, customers rarely think about the complexity. They simply experience a journey that feels connected.

That is where partnerships often succeed or fail.

At Transformidy, I evaluate partnerships through what I call Experience Intelligence™: understanding how customer experience, operations, brand value and commercial opportunity intersect throughout the customer journey. The questions are straightforward. What does the customer actually experience? Where does the relationship naturally continue? What commercial opportunities are created for each partner? Can the customer promise withstand the operational realities behind it?

Execution ultimately determines whether those promises are fulfilled. Customers are generally willing to learn how a loyalty program works, but their patience disappears quickly when benefits fail to appear, points do not post correctly or status challenges become confusing. They rarely care which organization owns the underlying technology or business process. They simply know the promised experience did not materialize.

That perspective is particularly relevant for retailers. Many organizations are eager to expand through partnerships, but comparatively few are prepared for the accountability that comes with delivering a seamless experience across multiple brands. Every handoff between organizations becomes part of the customer experience, whether companies intend it to or not.

Canadian retailers already understand the value of loyalty ecosystems. Programs such as PC Optimum, Scene+, Triangle Rewards and Air Miles have demonstrated how partnerships can influence customer behaviour across multiple categories. The Air Canada–Hyatt relationship applies similar thinking within travel by bringing together aviation, hospitality and financial services in ways that encourage customers to remain engaged throughout an entire trip.

The commercial opportunity extends well beyond acquiring new members. Strong partnerships create additional customer occasions, encourage repeat engagement and strengthen long-term relationships because they become genuinely useful in people’s everyday lives. Relevance is what keeps customers participating long after the excitement of a new partnership announcement has faded.

Retailers can apply the same thinking across many sectors. Grocery programs may extend into wellness, travel or pharmacy services. Hotels can connect guests with local dining, entertainment and retail experiences. Financial institutions can create partnerships around categories where cardholders already spend time and money. The strongest ecosystems reflect how customers naturally move through their lives instead of asking them to change established habits.

The scale of the Air Canada and Hyatt relationship is significant. Aeroplan serves more than 10 million active members and connects travellers to more than 1,300 destinations through Air Canada and its airline partners. World of Hyatt has approximately 66 million members and operates more than 1,500 hotels and all-inclusive properties across 83 countries.

Scale alone, however, does not create lasting loyalty. Customers return because a program consistently makes their lives easier, more rewarding and more relevant. Points and status remain important, but they are ultimately tools that support a broader relationship.

Air Canada brings one of Canada’s strongest loyalty ecosystems. Hyatt contributes a global hospitality network that shapes a significant part of the travel experience. If customers come to experience those brands as one connected relationship instead of two separate programs, the partnership will have accomplished something much more valuable than expanding redemption options.

For Retail Insider readers, that is the broader takeaway. Partnerships create lasting value when they remove friction, reinforce customer relationships and become a natural part of how people already live, travel and shop. The brands that succeed will be those that make those connections feel effortless from one interaction to the next.

Larry Leung is Founder and Experience-in-Chief of Transformidy™, where he advises organizations on customer experience, partnerships and commercial strategy through his Experience Intelligence™ framework.

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Second Cup Appoints Joe Walker as CEO to Lead International Franchise Growth

By
Craig Patterson
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Second Cup Cafe location. Image: TripAdvisor

Canadian-founded coffee brand Second Cup has appointed veteran restaurant executive Joe Walker as Chief Executive Officer of The Second Cup Coffee Company Inc., the company responsible for the brand’s international franchise business.

Announced Monday, Walker’s appointment comes as the company looks to accelerate the expansion of its global franchise network. He joins Second Cup following leadership roles with Wingstop, Starbucks, McDonald’s, KFC and Yolk Brands. Most recently, he led Wingstop’s expansion across the Gulf Cooperation Council (GCC) region, experience the company says positions him to guide its next phase of international growth.

“Joe is a world-class retail and QSR executive with an exceptional track record of scaling iconic food and beverage brands,” the company’s Board of Directors said in a joint statement announcing the appointment. The board added that his operational experience and leadership in the GCC make him well suited to strengthen Second Cup’s global franchise network.

Joe Walker

Building on an International Network

Although Second Cup was founded in Toronto in 1975, the company’s international business has grown well beyond its Canadian roots. Today, it operates cafés across the Middle East, East and West Africa, Asia and Europe through franchise partners while continuing to pursue opportunities in additional markets.

Walker said his focus will be on strengthening relationships across the company’s international network while continuing its expansion into new markets.

“While our heritage is proudly Canadian, our future relies on embedding ourselves deeply within the communities we serve,” Walker said. “We will accelerate and strengthen our growing presence globally, working closely with our regional partners to unlock Second Cup’s true international potential.”

The company also said it is actively seeking qualified franchise partners as it continues to expand internationally.

Middle East Positioned as Strategic Hub

Walker will be based primarily in the Middle East, where he will oversee the development of the region as a key international hub while continuing to lead the company’s main global base in Canada.

The appointment reflects the growing importance of the Gulf region as a destination for international restaurant and café brands. Significant investment in retail, hospitality and mixed-use developments has created opportunities for franchise operators seeking expansion, and Walker’s experience in the region aligns with Second Cup’s stated ambitions for its international business.

The Canadian café business has been owned by Montreal-based Foodtastic since 2021, while The Second Cup Coffee Company Inc. oversees the brand’s expansion outside Canada through franchise partnerships.

Founded in Toronto in 1975, Second Cup began expanding internationally in the early 2000s and has since established a presence across multiple global markets. The company said it remains committed to supporting existing franchise partners, entering new territories and welcoming new operators as it advances its international growth strategy.

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Daily Synopsis: Jul 31, 2026

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Retail Insider
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Welcome to the Daily Synopsis by Retail Insider. We hope you enjoy the 10 articles we published covering notable developments in Canadian and international retail.

Alimentation Couche-Tard reached a deal to acquire a controlling stake in Poland’s Żabka Group for US$8.6 billion, significantly expanding its European footprint with over 13,000 stores integrated into its Circle K network and enhancing digital and loyalty platforms. Retail Insider also explored what Couche-Tard could gain beyond store growth from Żabka’s innovative convenience formats, autonomous checkouts, and robust digital ecosystem.

Sobeys surpassed its food waste reduction target five years ahead of the UN’s 2030 goal by expanding its FoodHero program and increasing food donations. Retail employment data released by Statistics Canada showed ongoing growth in retail jobs in May, led by food, beverage, and motor vehicle sectors. Additionally, Loblaw announced plans for about 75 new stores in 2027 focusing on discount, pharmacy, and healthcare formats, while Canada Goose advanced its year-round apparel strategy to diversify revenue. T&T Supermarket achieved record sales in California fueling its U.S. expansion into dense multicultural markets.

🗞️ The Day’s Retail Insider Article List

🌐 Canadian Retail News From Around the Web

What Couche-Tard Could Gain from Żabka Beyond 13,000 Stores

By
Craig Patterson
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Żabka store. Photo: Notes from Poland

Alimentation Couche-Tard is poised to add more than 13,000 locations to its global network through its proposed acquisition of Żabka Group, but some of the most interesting assets it gains could be found inside stores measuring only a fraction of the size of a typical North American convenience location.

The Polish retailer has built a dense network around compact neighbourhood stores, backed by an extensive digital ecosystem, a major loyalty platform and a growing presence in autonomous retail. For Couche-Tard, those capabilities could provide lessons that extend across its global operations.

Montreal-based retail strategist Carl Boutet said Żabka has emerged as one of the more technologically progressive convenience-store operators in Europe, making its operating model an important part of the strategic value behind the acquisition.

“I find more interesting the tech thing,” Boutet told Retail Insider, pointing to Żabka’s autonomous stores and loyalty capabilities.

Boutet said acquisitions of innovative retailers can sometimes bring “extra digital DNA” into the acquiring company, while emphasizing that he has no inside knowledge of Couche-Tard’s plans for Żabka.

As Retail Insider reported Friday, Laval-based Couche-Tard has agreed to acquire a controlling stake in Żabka and launch a voluntary tender offer for the remaining shares at PLN 32 per share. The transaction values Żabka at approximately US$8.6 billion and would be the largest acquisition in Couche-Tard’s history.

Couche-Tard currently operates close to 17,300 stores globally, while Żabka reported 13,063 locations as of June 30. The combination would create a network of approximately 30,300 stores, although the way Żabka operates those locations may prove just as important as the number Couche-Tard is acquiring.

A Different Convenience Store Model

Żabka’s modular neighbourhood stores average approximately 65 square metres, or about 700 square feet, and operate across urban, suburban and rural markets. The network is supported by approximately 11,000 franchisees and has become deeply embedded in Poland, where approximately 18 million consumers live within 500 metres of a Żabka location.

Technology is central to that model. Żabka has developed its Żabka Nano autonomous-store concept alongside a broader digital operation encompassing loyalty, e-commerce, meal delivery, logistics and retail media. The company processes approximately 4.3 million transactions per day and reported 11.2 million Żappka app users as of June 30.

Boutet identified checkout technology, compact formats and loyalty as three areas he believes could be particularly interesting for Couche-Tard.

Carl Boutet at Royalmount in Montreal. Image: Carl Boutet

“The checkout technology, the smaller footprint, the loyalty program, I think are all places where they could benefit from the acquisition,” he said.

The economics of smaller stores are especially relevant as retailers scrutinize how efficiently they use space. Autonomous checkout can reduce the area required for a traditional cash wrap and potentially allow more of a compact store to be devoted to merchandise, while a smaller footprint can increase the range of markets where a convenience retailer can operate.

“It allows them to go into different markets,” Boutet said.

Regional and suburban markets could potentially support more locations when each requires less space, he added. Technology, autonomous operations and new approaches to delivery can create additional possibilities around those formats.

Boutet also pointed to smaller and underserved Canadian communities, including places that have lost grocery or convenience options as conventional stores become increasingly expensive to operate. He stressed that he was not suggesting Couche-Tard intends to introduce Żabka’s model in Canada, but said acquiring a company experienced in operating compact stores gives Couche-Tard a wider range of models to study as it considers how convenience retail could evolve in different markets.

Digital Engagement at Scale

Żabka’s physical network is closely tied to its digital operations. At the end of 2025, the company reported 10 million digitally active shoppers, while purchases made by Żappka users averaged 20% higher than those of other customers. Revenue from Żabka’s digital customer offering grew 25% during the year.

Its digital ecosystem has also expanded beyond the core convenience business through operations including Maczfit, Dietly, Delio and Jush!, while Żabka has developed a retail media business using its physical network and digital customer relationships.

Couche-Tard has already identified digital engagement, customer loyalty and innovation among the capabilities it sees in Żabka. For Boutet, the opportunity does not necessarily require Couche-Tard to duplicate Żabka concepts store for store.

“I think it definitely can inspire and influence” how Couche-Tard approaches its business, he said.

Boutet also pointed to Couche-Tard’s expansion in Scandinavia, saying operations acquired there brought another wave of digital ideas into the company. He believes Żabka could provide a similar opportunity to study practices developed within another advanced convenience market.

What Couche-Tard Brings to Żabka

The exchange of expertise could work in both directions. Boutet describes Couche-Tard as one of the world’s strongest convenience-store operators, with an unusually disciplined approach to costs, merchandise and store productivity.

“That’s their superpower, is their discipline,” he said.

Boutet said Couche-Tard has historically paid close attention to which products generate the strongest turnover and how efficiently space and capital are being used. That operating culture has helped the company grow from a Quebec convenience business into a network spanning dozens of countries and territories, and could help explain the value Couche-Tard sees in Żabka.

“They’re one of the best operators in the world in this space,” Boutet said.

Couche-Tard has identified approximately US$250 million in potential annual cost and revenue synergies from the transaction, expected to be fully realized by the third year after closing. Żabka’s supply chain could provide another area for learning, with more than 99% of products sold through its stores supplied through its own distribution system. Couche-Tard CEO Alex Miller has said that approach aligns with the Canadian company’s efforts to increase control over merchandise supply.

Couche-Tard has also signalled that Żabka will retain significant autonomy. The Żabka brand and franchise structure are expected to remain, giving the business room to continue operating the model that has driven its growth.

Żabka autonomous store. Photo: Microsoft

Europe Becomes Much Bigger for Couche-Tard

The transaction would significantly alter Couche-Tard’s geographic profile. Europe currently represents roughly 30% of its store network, while with Żabka included, Europe would account for approximately 60% of the combined store base.

Żabka itself continues to grow quickly. The company opened 1,394 stores during 2025 and reported a 14.1% increase in sales to end customers to PLN 31.1 billion, while adjusted EBITDA increased 16% to PLN 4.07 billion. Its expansion has largely been concentrated in Poland, with Romania providing a platform for further growth outside its home market.

The acquisition therefore gives Couche-Tard a considerably larger position in Central and Eastern Europe while shifting the geographic centre of gravity of its overall store network.

‘In Many Ways a Bigger Deal’

Couche-Tard’s history of pursuing major international acquisitions gives the Żabka transaction additional context. The company abandoned its approximately US$46-billion pursuit of Seven & i Holdings, parent company of 7-Eleven, in July 2025 after a lengthy effort to bring the Japanese company to the negotiating table. Several years earlier, Couche-Tard had pursued French retail giant Carrefour before the French government opposed the proposed transaction.

Boutet believes Żabka could ultimately prove more significant from an operational and strategic perspective than either of those attempted acquisitions.

“I think this is in many ways a bigger deal than the attempted 7-Eleven or Carrefour acquisitions,” Boutet told Retail Insider.

His comparison is not about transaction value. Both attempted deals, particularly Seven & i, involved substantially larger companies. Boutet sees significance in the capabilities Couche-Tard can potentially absorb from Żabka and apply elsewhere in its global business.

“I think just from the operational standpoint, what they’re going to be able to learn from is going to be more worthwhile,” he said.

There is another connection between the companies, with Seven & i having itself explored acquiring a stake in Żabka in July before those discussions ended without an agreement. Żabka therefore gives Couche-Tard a concentrated convenience business with a different set of capabilities and a track record of rapid growth.

A Żabka shopper walks toward shelves full of beverages. Photo: Microsoft

An Overlooked Retail Innovation Market

The acquisition also puts a spotlight on a region Boutet believes receives relatively little attention in North American discussions about retail innovation. Asia and Western Europe frequently dominate conversations about advanced retail technology, while he said Central and Eastern Europe have also produced retailers willing to adopt and test new systems.

“For retail technology, Eastern Europe has been punching above its weight,” he said.

Żabka is a particularly visible example, having combined rapid physical expansion with autonomous stores, digital loyalty, e-commerce and other technology-enabled services. Boutet said the willingness to experiment in markets such as Poland has created pockets of retail innovation that can easily be missed from a North American perspective.

“They’ve got their hands on a really good one right now,” he said of Couche-Tard’s proposed acquisition.

“I’m super excited about it. I think it’s going to be really, really interesting to see this play out.”

For Couche-Tard, Żabka will bring considerable scale, taking its global network to approximately 30,300 stores and making Europe the largest geographic component of that network. The longer-term impact may become clearer as Couche-Tard gains greater exposure to the systems behind those 13,000-plus stores, from compact formats and autonomous checkout to digital loyalty and supply-chain operations.

How those ideas travel through Couche-Tard’s wider organization will be one of the more interesting retail stories to watch after the deal closes.

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Kate Spade New York names Tyla global brand ambassador as artist fronts fall campaign (Video)

By
Mario Toneguzzi
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Kate Spade (Image: Park Royal Shopping Centre)

Kate Spade New York has named two-time Grammy-winning artist Tyla as its new global brand ambassador, with the singer set to make her debut in the company’s fall 2026 global campaign as the fashion brand expands its marketing efforts across multiple platforms.

The partnership will see Tyla featured in brand campaigns, social media content and in-store advertising, beginning with the fall campaign and continuing through additional promotional initiatives the company plans to unveil later this summer.

The announcement marks a new collaboration between the fashion label and the South African artist, whose appearance in the campaign coincides with the release of her sophomore album, APOP*. Kate Spade said the campaign centres on the theme of finding joy in everyday moments and incorporates references to the new album while showcasing the company’s Duo Mini shoulder bag in seasonal colourways, including Beet and Laurel Leaf.

“Tyla radiates what Kate Spade New York is all about: joy, optimism, and a confidence that lifts everyone around her,” said Eva Erdmann, CEO and brand president of Kate Spade New York. “From her music to her personal style, she makes people feel something. That’s rare. And she’s doing it at a pivotal moment in her career–a new album, a new chapter, and the world watching. We’re thrilled to have her with us as we spark something beautiful, together.”

Eva Erdmann
Eva Erdmann
KATE SPADE, YORKDALE SHOPPING CENTRE

Kate Spade said the fall 2026 collection will be available beginning in August, with additional products scheduled to launch throughout the season in its retail stores and on its website.

The company said the ambassador partnership is intended to extend across several consumer touchpoints, including advertising campaigns, digital content and retail displays, with Tyla serving as the face of the brand’s latest collection.

The announcement also coincides with Kate Spade New York’s participation alongside Tyla at a PAPER Magazine album launch event in Los Angeles. The company said it plans to release additional details about the campaign in August.

Kate Spade New York, founded in 1993, designs handbags, clothing, footwear, jewellery and accessories and operates as part of the Tapestry house of brands.

The company described Tyla as an artist whose career has expanded rapidly in recent years following multiple chart successes and Grammy recognition.

According to Kate Spade, the campaign will feature Tyla carrying the Duo Mini shoulder bag throughout the creative material, with the collection rolling out over the coming months as new seasonal styles become available.

The company did not disclose financial terms of the partnership or its duration.

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Casavogue Extends Summer Sale with Savings of Up to 50 Percent

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Retail Insider
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Casavogue has extended its Summer Sale for a limited time, giving customers another opportunity to save on furniture and home décor for every area of the home.

The extended promotion features discounts of up to 50 percent across all categories, including furniture for living rooms, dining rooms and bedrooms. Customers can also discover select liquidation pieces reduced by up to 60 percent, with availability varying by item.

The sale offers timely opportunities for homeowners completing a renovation, furnishing a new residence or preparing their interiors for the fall season.

More Time to Refresh the Home

Late summer often brings renewed attention to the home. Families begin preparing dining spaces for fall gatherings, reconsidering living-room layouts and completing projects that began earlier in the year.

At Casavogue, customers can explore sofas, sectionals, dining tables, chairs, bedroom collections, occasional furniture and decorative pieces in a wide range of styles. Savings across all categories allow visitors to consider a single statement piece or coordinate furnishings for several rooms.

The extended timeline also gives customers more opportunity to make considered decisions about scale, comfort, materials and how each piece will function within their space.

Charles David DNA Sectional Sofa

Discover Additional Liquidation Savings

Alongside discounts of up to 50 percent throughout the sale, Casavogue is offering reductions of up to 60 percent on select liquidation pieces.

These limited-availability furnishings provide especially strong value for customers whose preferences and space requirements align with the available designs. As selection may change throughout the promotion, visiting the showroom offers the best opportunity to view current pieces and explore available savings.

Inspiration Across 38,000 Square Feet

Casavogue’s showroom spans more than 38,000 square feet on boulevard Saint-Michel in Montréal. Complete room settings allow customers to compare furniture, materials and finishes while seeing how different elements can work together within the home.

The family-owned retailer has served Montréal customers since 1972, developing an assortment that includes Canadian and international furniture in contemporary, modern and classic styles.

Many collections can be personalized through choices such as fabrics, leathers, finishes and configurations. Casavogue’s design consultants are also available to help customers assess dimensions, coordinate furnishings and identify options suited to their lifestyle and interior.

Extended for a Limited Time

The extension gives customers additional time to explore Casavogue’s showroom and take advantage of seasonal pricing, including savings of up to 50 percent across all categories and up to 60 percent on select liquidation pieces.

The promotion is available for a limited time, and liquidation items remain subject to availability.

Visitors can explore the showroom Monday through Friday from 9:30 a.m. to 6:00 p.m., and Saturday and Sunday from 9:30 a.m. to 5:00 p.m.

Casavogue is located at 8260 boulevard Saint-Michel, Montréal, QC H1Z 3E2. For more information, call +1 514-360-3565 or book an appointment to receive personalized advice.

La Marissa Dining Set

Couche-Tard reaches deal to acquire controlling stake in Poland’s Żabka Group in transaction valued at US$8.6 billion

By
Mario Toneguzzi
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Żabka Group photo
Żabka Group photo

Alimentation Couche-Tard Inc. has reached an agreement to acquire a controlling stake in Poland’s Żabka Group and plans to launch a voluntary tender offer to buy all outstanding shares of the company in a transaction valued at about PLN32.62 billion (US$8.6 billion).

The Laval, Que.-based convenience store operator said it will make the offer through its wholly owned subsidiary, Circle K Polska sp. z.o.o., at PLN32 per share in cash. If completed, the deal would be the largest acquisition in Couche-Tard’s history.

The proposed acquisition would give Couche-Tard an immediate presence in Central and Eastern Europe through Żabka’s network of more than 13,000 convenience stores across Poland and Romania. The company said it intends to preserve Żabka’s management structure, franchise model, brand and local operations while adding the business to its existing network of nearly 400 Circle K service stations in Poland.

The transaction has the support of Żabka’s key executive managers and shareholders representing about 57 per cent of the company’s outstanding shares, including CVC Capital Partners and Partners Group, which have signed separate hard irrevocable agreements to tender all of their shares into the offer.

Couche-Tard said it expects to finance the acquisition through fully committed debt facilities underwritten by J.P. Morgan, with National Bank of Canada Capital Markets and The Bank of Nova Scotia acting as joint bookrunners.

“This is a transformational investment for Couche-Tard and an important milestone in our growth journey,” said Alex Miller, President and Chief Executive Officer of Alimentation Couche-Tard. “Żabka has built one of Europe’s most impressive convenience retail businesses, combining a powerful customer proposition with an entrepreneurial franchise model, a highly disciplined and proven operating platform, and a strong track record of growth. We have tremendous respect for what the Żabka team and its franchisees have accomplished. We are committed to supporting the continued growth of the Żabka business while drawing from its strengths in areas such as food, digital engagement, customer loyalty, private brand, supply chain, logistics and innovation, and as a result, further accelerating our Core + More strategy. Together, we will be well positioned to create lasting value for customers, franchisees, employees, business partners, and shareholders.”

Alex Miller
Alex Miller
Tomasz Blicharski
Tomasz Blicharski

Founded in 1998 and based in Poznań, Poland, Żabka has been listed on the Warsaw Stock Exchange since October 2024. The company says it processes about 4.3 million transactions daily and has approximately 11.7 million users across its digital channels.

Couche-Tard said that, based on the companies’ most recent reporting periods, the combined business would have illustrative pro forma revenue of about US$83.9 billion and adjusted EBITDA of about US$7.8 billion, excluding synergies.

Żabka generated about US$7.4 billion in revenue, adjusted EBITDA of about US$1.1 billion and net profit of about US$300 million over the trailing 12 months ended March 31, 2026, according to the companies.

Couche-Tard said it has identified approximately US$250 million in potential cost and revenue synergies that it expects could be fully realized by the third year after closing. It also said the transaction is expected to be accretive to adjusted EBITDA margin immediately and accretive to earnings per share by the second year following closing.

The company expects pro forma leverage of about three times net debt to adjusted EBITDA at closing and said it does not anticipate any impact on its credit rating.

Tomasz Blicharski, Chief Strategy and Development Officer and Chief Executive Officer designate of Żabka Group, said the proposed transaction marks the start of a new phase for the retailer.

“Today’s transaction marks the beginning of an entirely new and exciting chapter for Żabka Group. Couche-Tard shares our commitment to innovation, convenience and customer-centricity and recognizes the strength of the brand, the franchise community and the team that have made Żabka one of Europe’s leading convenience platforms. Together, we will be even better positioned to accelerate growth, continue investing in our people and capabilities, and create even greater value for customers, franchisees, and communities.”

Tomasz Suchański
Tomasz Suchański
PHOTO: CIRCLE K

Tomasz Suchański, CEO and Chairperson of the Board of Directors of Żabka Group, said the agreement reflects the company’s development over the past several years.

“Thanks to the dedication of our employees and the continued support of our customers, franchisees and business partners, we have built a company that has grown into one of Europe’s leading convenience platforms and become an attractive partner for one of the industry’s leading players. Today’s announcement reflects the strength of our business, the power of our brand, and the long-term value we have created together. It follows a highly successful nine-year partnership with CVC – and with Partners Group, which invested in 2019 – during which Żabka Group underwent a remarkable transformation, strengthened its market position and expanded into new areas of growth. This milestone would not have been possible without the commitment, passion, and hard work of everyone who has contributed to this journey.”

Żabka Group photo
Żabka Group photo

István Szőke, Managing Partner of CVC, said the investment firm’s partnership with Żabka had helped build the retailer into one of Europe’s largest convenience platforms.

“We are incredibly proud of everything that has been achieved during our partnership with Żabka. Together with an exceptional management team, we have built Europe’s leading convenience retail platform through technological innovation, operational excellence and disciplined execution, creating lasting value for customers, franchisees, employees and shareholders. We thank the entire Żabka team for their commitment and partnership and are confident Couche-Tard will be an outstanding long-term steward as the company embarks on its next chapter.”

The offer remains subject to regulatory approvals, including merger control clearance from the European Commission or Poland’s competition authority, foreign direct investment approval in Romania, and approval under the European Union’s Foreign Subsidies Regulation.

Couche-Tard said the number of Żabka shares it ultimately acquires will depend on shareholder participation in the offer. If it obtains at least 95 per cent of the voting rights, it intends to proceed with a compulsory acquisition of the remaining shares and seek to delist Żabka from the Warsaw Stock Exchange.

The offer document is expected to be reviewed by the Polish Financial Supervision Authority in time for the offer period to begin around Aug. 26. Subject to regulatory approvals, shareholder participation and any extensions of the acceptance period, Couche-Tard said it currently expects the transaction to close no later than December 2026.

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Home Depot restructures leadership to streamline operations and accelerate growth strategy

By
Mario Toneguzzi
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Photo: The Home Depot

The Home Depot is reorganizing its leadership structure as it seeks to simplify the customer experience, speed up innovation and expand its share of the home improvement market.

The retailer announced this week that it has realigned responsibilities across merchandising, loyalty, finance, professional customer operations and technology as part of a broader strategy aimed at strengthening its core business and supporting future growth.

The organizational changes consolidate several leadership portfolios under existing executives, with the company saying the moves are intended to improve coordination across business functions and support both do-it-yourself customers and professional contractors.

Ted Decker
Ted Decker

“To capture greater share of this enormous opportunity, our focus is clear: drive our core and culture, deliver a frictionless interconnected experience and win the Pro,” said Ted Decker, chair, president and CEO of The Home Depot. “We are aligning our organization to further support this strategy, enable smarter, faster innovation and create a more seamless customer experience for DIY and Pro customers.”

The company said the changes are designed to better align its merchandising, customer experience and technology operations while strengthening its professional customer business, which it identified as a significant area for future growth.

As part of the restructuring, The Home Depot has integrated its private brands merchandising team into its core merchandising organization under executive vice-president of merchandising Billy Bastek. The company said combining the functions is intended to improve product alignment and speed the introduction of new products.

The retailer has also consolidated its customer experience, online operations, financial services and loyalty teams into a single interconnected retail organization led by executive vice-president of interconnected retail Jordan Broggi.

The company said the move is intended to align customer-facing functions more closely and support more integrated shopping and financial services across its retail channels.

Professional customers remain a central focus of the company’s growth plans.

Jordan Broggi
Jordan Broggi
Richard McPhail
Richard McPhail
Billy Bastek
Billy Bastek

The Home Depot said it is replacing its Office of Integration with a new Office of Pro Acceleration, led by executive vice-president and chief financial officer Richard McPhail.

The office will oversee coordination across Home Depot Pro, HD Supply, SRS and Construction Resources, with responsibility for developing shared capabilities including customer relationship management, a common product catalogue and fulfilment operations.

The company said those efforts are intended to improve coordination across its professional businesses and support customers working across multiple business units.

Technology responsibilities are also being consolidated following the earlier appointment of Fran Bell as executive vice-president and chief technology officer.

The Home Depot said store, supply chain and professional product technology teams will now report through Bell’s organization, bringing artificial intelligence, data science, product management, user experience and technology under one leadership structure.

The company said the change is intended to accelerate the development and deployment of new technology across its operations.

The Home Depot described the leadership realignment as part of its strategy to strengthen its core retail business while expanding its capabilities for both retail and professional customers.

At the end of the first quarter of fiscal 2026, the company operated 2,361 retail stores and more than 1,280 SRS locations across the United States, Puerto Rico, the U.S. Virgin Islands, Guam, all 10 Canadian provinces and Mexico. It employs more than 470,000 associates.

More from Retail Insider:

Sobeys surpasses food waste reduction target five years ahead of UN goal

By
Mario Toneguzzi
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EXTERIOR OF SOBEYS GROCERY STORE. PHOTO: SUPERMARKET NEWS

Sobeys Inc. says it has exceeded its goal of cutting food loss and waste by 50 per cent, reaching a 50.3 per cent reduction from its 2016 baseline, according to the latest sustainable business report released by parent company Empire Company Ltd.

The company said the milestone was achieved five years ahead of the United Nations Sustainable Development Goal 12.3 target to halve global food waste.

The results were released as part of Empire’s 2026 Sustainable Business Report, which also outlines the company’s progress on greenhouse gas emissions, sustainable sourcing, community investment and workplace initiatives.

Empire said the food loss and waste reduction included 40.6 million pounds of food donated across Canada during fiscal 2026, while another 5.2 million pounds of food was diverted through the FoodHero program. The company said its food donation network supported more than 2,600 local charities across the country.

The retailer also said it became the first company to donate more than 100 million meals through Second Harvest’s food rescue network and was named the organization’s Top Food Donor for a fourth consecutive year. In Quebec, Sobeys said it received Food Banks of Québec’s 360° Donor Award for its food donation efforts, service and community impact.

Empire said it has focused on redirecting surplus food away from landfill over the past six years. As part of that effort, FoodHero is now available in more than 850 stores across Canada, where customers purchased 2.3 million kilograms of food during fiscal 2026.

“Reducing food waste takes commitment, and reaching this milestone reflects the collective efforts of teammates across our stores, Voilà customer fulfillment centres and retail support centres, together with suppliers and community partners, who work every day to recover more surplus food and keep it in the food system. As one of Canada’s largest retailers, we see this as both a responsibility and an opportunity to lead by example,” said Joshua Goodman, head of sustainability at Sobeys Inc.

The report also highlights other sustainability measures completed during the company’s 2026 fiscal year.

Empire said it reduced its Scope 1 and Scope 2 greenhouse gas emissions by 35.4 per cent compared with its 2019 baseline.

The company said 90 per cent of the fresh, frozen and canned fish and seafood sold under the Sobeys banner, measured by weight, met the criteria in its Sustainable Fish & Seafood Sourcing Guidelines. It also said 90.4 per cent of the palm oil used in its Our Brands, Farm Boy and Longo’s private-label products was certified sustainable.

Empire reported that it and its customers raised and donated $29 million to support programs focused on healthy bodies and minds in local communities during the fiscal year.

The company also said women held 38 per cent of its senior leadership positions and that it advanced to Phase 3 certification under the Canadian Council for Indigenous Business Partnership Accreditation in Indigenous Relations program.

Empire said it carried more than 13,000 products from local suppliers and producers while supporting 514 women entrepreneurs across Canada.

Empire Company Ltd. is headquartered in Stellarton, N.S. Through its wholly owned subsidiary, Sobeys Inc., the company operates food retail businesses and related real estate operations. Empire said it has approximately $32 billion in annual sales, $17 billion in assets and employs about 130,000 people through its subsidiaries, franchisees and affiliates.

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Employment in retail continues to increase: Statistics Canada

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Mario Toneguzzi
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MART PRODUCTION photo
MART PRODUCTION photo

In May, payroll employment in retail trade (+5,600; +0.3%) increased for the third consecutive month, bringing the cumulative gain since March to 20,500 (+1.0%), reports Statistics Canada.

“The monthly increase in May was concentrated in food and beverage retailers (+5,100; +1.0%), motor vehicle and parts dealers (+1,100; +0.5%) and general merchandise retailers (+1,000; +0.4%). The monthly gains were slightly offset by a decline in furniture, home furnishings, electronics and appliances retailers (-1,100; -1.1%). On a year-over-year basis, payroll employment in retail trade was up by 4,800 (+0.2%) in May,” said the federal agency.

Overall, Stats Can said the number of employees receiving pay and benefits from their employer—measured as “payroll employment” in the Survey of Employment, Payrolls and Hours—increased by 24,100 (+0.1%) in May, following an increase of 59,000 (+0.3%) in April and little change in March. On a year-over-year basis, payroll employment was up by 112,500 (+0.6%) in May.

Meanwhile, job vacancies were little changed at 495,700 job vacancies in May, marking the fifth consecutive month of little variation in Canada. Year-over-year job vacancies were little changed, it added.

Ron Lach photo
Ron Lach photo

The monthly payroll employment gain in May was driven by public administration (+11,700; +0.9%), health care and social assistance (+6,800; +0.3%), retail trade (+5,600; +0.3%) and administrative and support, waste management and remediation services (+3,100; +0.4%). These gains were partially offset by decreases in finance and insurance (-5,700; -0.7%) and professional, scientific and technical services (-3,400; -0.3%), said Statistics Canada.

In May, the number of job vacancies (495,700) was little changed from April, marking the fifth consecutive month of little variation. Year over year, job vacancies were also little changed, it noted.

“The job vacancy rate—which corresponds to the number of vacant positions as a proportion of total labour demand—was 2.8% in May, up 0.1% from the previous month and unchanged on a year-over-year basis. Since April 2025, the job vacancy rate has shown little variation, remaining within a narrow range of 2.7% to 2.8%,” explained Statistics Canada.

“Total labour demand—which corresponds to the sum of filled and unfilled positions—was up 0.3% in May 2026 from the previous month and up 0.8% year over year. Both increases were largely due to increases in payroll employment as job vacancies were little changed.”

There were 3.0 unemployed persons for every job vacancy in May 2026, down 0.2 from the previous month and from May 2025. These decreases were the result of declines in the number of unemployed persons (according to the Labour Force Survey) coupled with little variation in the number of job vacancies, it said.

In May, the highest job vacancy rates were in accommodation and food services (4.3%), other services (except public administration) (3.7%) and health care and social assistance (3.4%). Meanwhile, the lowest job vacancy rates were in educational services (1.1%), management of companies and enterprises (1.4%) and information and cultural industries (1.4%), added the federal agency.

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