Top stories in the papers this week 10 – 17 December 2012
Retailers hope extra weekend before Christmas pays off; order to wind up Dunnes Stores withdrawn; report suggests cigarette smuggling not as bad as thought
Print17 December 2012
1. Retailers banking on weekend shopping splurge
Retailers are hoping an extra weekend before Christmas will pay dividends for their sales after a lean five years, according to the Irish Examiner. Christmas Day falls on a Tuesday this year, meaning there are four weekends in the month. Stephen Lynam, director of Retail Ireland, said many people leave their festive shopping until the last minute so there may be an upturn next weekend. He said it was not possible, at this stage, to gauge whether 2012 was a good or bad year for retailers.
2. Dunnes Stores winding up order withdrawn after €21.6 debt paid
A petition to wind up Dunnes Stores over a €21.6m debt has been withdrawn after the Commercial Court heard that the money was paid in full last Thursday 13 December, reports RTE. Brian O’Moore SC for Dunnes Stores said that its earlier reasons for non-payment were genuinely held and no discourtesy to the court was intended. Mr Justice Peter Kelly said the earlier refusal to settle the judgment could have been viewed as a challenge to the authority of the court even if it was not intended.
3. Monaghan-based Grove Turkeys to export €3m worth of goods into UK Tesco stores this Christmas
Monaghan company Grove Turkeys Ltd will be exporting €3m worth of Irish turkeys into over 300 Tesco stores in the UK this year, supporting 280 local seasonal jobs in the run-up to Christmas. Business and Leadership reports the UK exports are part of Grove’s €5m business with Tesco. Over the festive period the company is supplying fresh Irish turkeys and Irish free-range bronze turkeys from its 12 farms nationwide to all major Tesco stores in Ireland and across Tesco stores in the UK.
4. Bread cost set to soar after bad harvests
The price of bread is on the rise and is expected to increase by 20% next year, after poor global wheat harvests reports the Evening Herald. Millers, bakers and retailers will feel the knock-on effects of the poor harvest and will be forced to increase their prices in 2013. One of the country’s leading wheat brands Valeo Foods — which owns flour giants Odlums — has confirmed that wheat prices will rise next year. Wheat production has fallen by 21m tonnes since August after poor weather conditions — including a drought in the US and a very rainy summer in Europe
5. Cigarette smuggling ‘not as bad as tobacco firms say’
The prevalence of cigarette smuggling in countries like Ireland is lower than tobacco industry figures suggest reports the Irish Independent. A new report published – based on the largest study of its kind – shows that ease of availability rather than price determines the extent of the illicit trade in Europe. The findings, published in the journal ‘Tobacco Control’, say this directly contradicts arguments put forward by the tobacco industry. The study was led by the Association of European Cancer Leagues’ Foundation Against Cancer in Brussels.
Also:
Foreign firms seek retail therapy in Australia (4Traders)
Walmart among retail chains bidding for Hostess’ brands (Dublin News)
Time to rally round our hard-pressed retailers (Belfast Telegraph)
Retailers hustle to lure last-minute shoppers (Dublin News)
McProfit: $8.25 a hour vs CEO’s $8.75m a year (Irish Examiner)
Bar code co-inventor dies aged 91 (Belfast Telegraph)
US retail sales up on online spending (RTE)
HMV share plunge highlights clout of online stores (Irish Independent)
Castlebar store awarded National Lottery Retail Store title (Mayo Advertiser)
Cork Store Towers Above Competition (The Cork News)
Budget 2013 and its affect on one Irish town (Irish Examiner)
Over 10,000 gas boilers installed illegally in 2011 (Breaking News)
Proof of the pudding is in the sales (Irish Independent)
Christmas shopping is in the bag thanks to Local Heroes (Drogheda Independent)
Late shoppers may be penalised as stores run low on toys and tablets (The Journal)
PayPal launches pre-paid cash cards in US (Silicon Republic)
Many companies unaware of responsibilities under Data Protection Act (Irish Independent)
Retailers expect Christmas bounce (Irish Times)
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