Top stories in the papers this week 19 – 25 February 2011
Centra to open 17 new stores this year; Customers pay a high price for convenience; Baker saves 70 jobs with buy-back
Print24 February 2011
1. Centra to open 17 new stores this year
Centra has said it will add 17 new stores and over 500 new jobs to its network this year in €23m investment. RTE News reports Centra recorded €1.4 billion in sales last year and said it continued to outperform the market as its sales slowed by 2% compared to an average of 6.5% for its competitors. The group added that its retail partners “have been quick to adapt to the budget conscious consumer.”
2. Customers pay a high price for convenience
Products in ‘convenient’ packaging are costing consumers up to twice as much, according to a report in the Irish Independent. The paper reports shoppers get twice as much of the same branded oats, mustard and firelighters for their money by opting for simpler packaging. A prices survey found the ‘squeezability’ of toothpastes with pumps and ketchup bottles was another key factor in driving prices up.
3. Baker saves 70 jobs with buy-back
Businessman Declan Gallagher has saved up to 70 jobs by buying back his family bakery from international food group IAWS. The Irish Examiner reports Gallagher said he had a social responsibility to salvage the fresh bread section at Gallagher’s Bakery in Ardara, Co Donegal. He intends to grow the bakery and has called on the public and retailers to support Donegal manufacturers, to maintain local jobs.
4. Burke quits non-executive Superquinn role
Fomer Superquinn chairman Simon Burke has now stepped down from his role as non-executive chairman of the grocery chain. Burke had gained this role before Christmas, after stepping down as chairman of the company, and handing the reins to Andrew Street. According to an Irish Independent report, tax consultant and shareholder in Superquinn, Kieran Ryan, will now fill the position.
5. Britvic costs higher than expected
Soft drinks group Britvic has said raw material inflation will be higher than it previously expected, though it still forecast a higher full-year operating profit than last year. RTE News reports Britvic said input-cost inflation for Britain and Ireland would be 9-11% instead of 5-6%, reflecting price increases of steel and sugar. However Britvic added its prices won’t rise, as price negotiations had already been completed.
Also:
Famous city grocer leaves €32m in will (Irish Independent)
Rent review move sinks sale deal on Liffey Valley (Irish Independent)
Shops buy into FG and Labour’s manifestos (Sunday Independent)
Commercial rent is a zero-sum game (Irish Independent)
Own brand to grow by 50% (Irish Examiner)
Cigarette smuggling doubles in Galway (Galway Bay FM)
Cork food producer to launch in the UK (Bizstartup.ie)
Pay shop bills by swiping phone (Sunday Business Post)
Sweet nostalgia (Irish Independent)
Asda warns of frail consumer confidence as shoppers spend less (Guardian – UK)
Fresh move to cut salt in foods (Belfast Telegraph)
Wal-Mart earnings data weighs on Wall Street
Chocolate company’s sweet idea (Irish Times)
BP announces $7bn deal with India’s Reliance Industries (Guardian – UK)
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