Top stories in the papers this week 10 – 16 July

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Tesco creates 748 jobs in seven new stores; Brands taken off Tesco's shelves; Spar sales in decline for first time in ten years



15 July 2010

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1. Tesco creates 748 jobs in seven new stores

Supermarket giant Tesco has created 748 new jobs in a €113 million expansion drive, which will see it open seven new stores throughout Ireland. The Irish Examiner reports the chain – which is worth €2.5 billion to the Irish economy – will open the new stores over the next 12 months in Kinnegad, Oranmore, Swinford, Ballybeg, Naas, Kimmage and Dublin city centre. This  will bring 688 positions on stream, with an additional 60 jobs provided in a shop in Roscrea.

2. Where have our brands gone, Tesco?

Readers of The Irish Times’ Pricewatch column say Tesco has dropped a long list of products from its shelves, including Ace bleach, Ecover, Inversoft toilet paper, Royal baking powder, Roses Lime cordial, Robinson’s Hi-Juice, and Buitoni pasta sauces. Readers also claimed that in categories such as pasta; Tesco only sells own-brand options and Roma and Napolina brands. Conor Pope spoke to suppliers to gauge their reaction – with one stating that “with Tesco there are always surprises.”

3. Spar sales in decline for first time in ten years

Sales across the Spar Ireland retail network fell for the first time in more than a decade last year. The Sunday Business Post reports the convenience store franchise had retail sales of €1.22 billion in 2009, down 7 .9% on 2008. Despite this decline in sales, Spar International said that the Irish unit had ‘‘performed strongly’’ within the context of the economic downturn, and pointed out its “total retail selling space remained unchanged."

4. Irwin’s bakery can directly supply Dublin retailers

Irwin’s Bakery is to invest €1 million in its distribution network over the next three years, enabling the Portadown, Co Armagh, firm to directly supply retailers in the Dublin area; instead of using third-party distribution centres, and only working directly with key retailers like Tesco Ireland and Dunnes Stores.   The Sunday Business Post reports the family-owned company expects the move to boost revenues by €750,000 in the next year alone.

5. Struggling retailers boosted by football spending spree

Tesco has experienced a 30% rise in meat sales over the past four weeks, believed to be due to more consumers holding barbecues. Meanwhile the Irish Independent reports sales of large bags of sweets and big bars of chocolate have soared by 10%, with up to five times more M&Ms being sold.

6. Court move on Barry’s Tea stock

The Commercial Court has opened the possibility that AIB could sell a 9% stake in the company behind Barry’s Tea – in order to enforce an €8 million judgment against one of its directors and shareholders, Donagh Barry. The Irish Times reports AIB now has a charge over 90,000 shares in Barry’s, and the court has granted AIB permission to apply to sell the shares, once it has given notice to Mr Barry. The bank is seeking to enforce a €8 million judgment against Barry, relating to a failed property venture undertaken by him and his brother-in-law, Michael McCarthy.


Cigarettes worth over €3m seized in Meath (Irish Times)

‘Sting’ shows a third of under-18s bought cigarettes (Irish Independent)

McCarthy claims upward-only rent reviews are distorting the market (Sunday Business Post)
New figures show retailers still facing challenging environment (Cork Independent)

Mobile charges rising by 80% this week (Evening Herald)

Recovery on hold as commercial property prices fall in last quarter (Irish Independent)

Asda returns policy advert banned
(Belfast Telegraph)



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