Business News in Brief: Dansk Supermarked changes its name

In other news, Widex merges, Pandora stumbles and Uber is coming back to Denmark

Dansk Supermarked, the parent company behind supermarkets like Netto, Føtex, Bilka and others, announced that it is changing its corporate name to the Salling Group.

It the first name change for Dansk Supermarked since 1964, when A.P. Møller – Maersk became a co-owner. Møller – Mærsk sold its interest in the company to the Salling Fund in 2014. The Salling Fund is now the sole owner of the company which had revenues of just over 60 billion kroner in 2017.

Widex merges
Widex, the smallest of the Danish hearing aid manufacturers, is merging with competitor Sivantos. 
The merger with Sivantos will make the global company one of the world’s three largest manufacturers of hearing aids, with distribution in 125 markets and a turnover of 12 billion kroner. The merged entity will be owned by the EQT capital fund, which owns Sivantos, and the Tøpholm and Westermann families, who own Widex. Widex currently has about 4,250 employees, while Sivantos has 5,950 employees.

Pandora’s shares fall
Shares in jewellery maker Pandora fell sharply after the company reported lower than expected first-quarter profits and warned of a slowdown in China. Pandora said that its UK sales were flat and sales in the US fell by eight percent. Pandora said it hopes to boost sales by accelerating the number of designs being launched and increasing the number of self-owned stores rather than franchises.

READ MORE: Pandora sees disappointing growth

Uber looking to return to Denmark
Ride sharing app Uber says it plans to return to Denmark. The company first entered the Danish market in 2014 and had 2,000 drivers before complaints to police, protests and court cases forced them to withdraw in early 2017. Some drivers were actually fined for breaking taxi laws. Spokesperson Kristian Agerbo told Berlingske that Uber is returning with a different model. He declined to say when Uber would return, but said that the company is now working with the authorities and the taxi industry in hopes of a smoother ride this time around.