Tesco Ireland posts 2.4% sales drop; M&S blames VAT hike for sales slump; Food off the menu at Dunnes in Spain
Apr 23 2012
1. Tesco Ireland posts 2.4% sales drop as market declines further
Tesco recorded a 2.4% drop in sales across its Irish outlets in the 12 months to the end of February. The Irish Times reports that Tesco Ireland, which contributes €2.7 billion to the Irish economy annually, said the drop in sales reflected lower prices and “continued market decline”. Overall, the company reported growth of 2.8% last year, reflecting the building of 11 new stores as well as the upgrading of 47 existing outlets.
2. M&S blames VAT hike for sales slump
Marks & Spencer boss Marc Bolland has told investors that the recent VAT hike has hit sales in its Irish operations "hard," with like-for-like sales dropping 0.7% in the three months to March. According to The Irish Independent, M&S finance chief Alan Stewart said the VAT regime change had caused consumers' sentiments to “take a turn for the worse”. M&S revealed its Irish operations account for "about a third" of its entire international business.
3. Food off the menu at Dunnes in Spain
Dunnes Stores is to stop selling food at its outlets in Spain, the Irish Independent reports. Dunnes has had a presence in Spain for more than 30 years, opening its first store there, in Malaga, in 1980. It now has five outlets in the country, which are run by Leo Keohane, a brother of Tesco Ireland boss Tony. Dunnes also has six stores in England, and five in Scotland.
4. Striking Musgrave staff reject calls to return to work
Striking staff at Musgrave’s chill warehouse in Cork rejected company calls to return to work last week and vowed to continue their dispute indefinitely. The Irish Examiner reports up to 70 Siptu members picketed the firm’s Tramore Road offices on Wednesday in a row over the implementation of a Labour Court recommendation. However the company activated a contingency plan to ensure deliveries continued from the chill warehouse.
5. Lamb springs back on to the menu
There has been a major increase in the popularity of lamb this year, with household purchases up by almost 16% for the first 12 weeks of the year when compared with the same period last year. The Irish Times reports that James Murphy, IFA national sheep chairman, attributed some of the growth to the strong promotional activity of lamb by the major Irish retailers, and a vigorous campaign by Bord Bia.
Nestle buys Pfizer Nutrition for $11.85 billion (RTE News)
Walmart investigates claims of cover-up over $24m in Mexican bribes (The Guardian)
Call for paper carriers to be left out of bag tax (Newsletter)
Disheartened traders are wary of Queen of Shops (Belfast Media Group)
Panic buying of petrol lifts UK retail sales (Irish Examiner)
Chinese company in Weetabix talks (Irish Examiner)
Petrol fears as drivers reject deal (Belfast Telegraph)
Visa introduces contactless PayTag (Belfast Telegraph)
Northern Ireland parking fines to jump by 50% (Belfast Telegraph)
Dutch expo aims to boost exports of 50 Cork food and drink firms (Irish Examiner)
Asda linked with plan for Lisburn supermarket (Lisburn Today)
City centre loses 3,500 jobs over five-year period (Irish Examiner)
Tesco revival plan fails to fire up FTSE (Evening Echo)
New shops key to Tesco’s growth in a shrinking sector (Irish Examiner)
Foreign retailers are stuck fast in the Irish quagmire (Irish Independent)
Co-ops expected to cut milk price (Irish Examiner)
Sunny outlook for grain demand (Irish Examiner)
Green shoots appear for retailers as consumers leave the trenches (Irish Independent)
SuperValu and Centra deliveries 'to continue as normal' despite work stoppage (Evening Echo)
M&S misses sales forecasts (Irish Times)
Arrabawn revenue up 9.5% to €180m (Irish Times)
Caught in commuter hell of mortgage and petrol costs (Irish Times)
Greencore acquires US food company for $36m (Irish Times)
Earnings up at Johnson & Johnson (Irish Times)
Five Castle Market shops make €2.9m (Irish Times)
Sainsbury's slimline toilet roll to wipe 140 tonnes from carbon emissions (Guardian, UK)
Irish retail spots high on wish list of international traders (Irish Times)
Plan aims to reverse 'blight' of neglected Thomas Street (Irish Times)
EU assistance for SMEs and protection for workers