Top stories in the papers this week 27 August – 2 September 2011

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Tesco pulls out of Japanese market; Locations for Iceland stores pinpointed; Expansion of discount retailers to create more than 2,000 jobs

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2 September 2011

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1. Tesco pulls out of Japanese market

Tesco is to sell its stores in Japan after admitting defeat in its eight-year push to become a major player there. The Irish Examiner reports that the UK retailer has been in the country since 2003, with 129 small stores based in the Greater Tokyo area under the Tsurakame and Tesco formats.  However chief executive Philip Clarke conceded that it had not been possible to build a “sufficiently scalable business”.

2. Locations for Iceland stores pinpointed as 1,000 jobs in pipeline

The Dublin-based AIM retail group is understood to have identified locations in towns and cities including Clonmel, Athlone, Cork, Waterford and Carlow for the initial phases of its expansion of the Iceland discount food brand in Ireland. The Irish Independent reports that the group said last year that it expected to spend between €35m and €50m opening 40 Iceland outlets here by 2014.

3. Expansion of discount retailers to create more than 2,000 jobs

Three discount retailers have announced over 2,000 new jobs between them, reports the Irish Examiner. The UK retail chain 99p Stores plans to open 50 shops in Ireland where all items will cost €1.50 or less; employing up to 1,500 people over the next four years. Argos has announced it will employ 800 temporary workers over Christmas, and Aldi plans to open six new stores before the end of 2011, creating 90 new jobs.

4. Teams challenged at business awards

The Barry Group’s Irish Business Teamwork Awards held in Kildare earlier this week have raised €15,000 for the Irish Grocers Benevolent Fund (IGBF).  The Irish Times reports a total of 38 four-person teams from around Ireland took part in the fund-raising day held on Tuesday at the Carton House Hotel near Leixlip. The competitive teams completed a wide range of activities from tag-relay kart-racing to team jigsaw puzzles.

5. Maeve Dineen: Time to move forward on upward-only rent reviews

The government’s delay in publishing a bill to retrospectively abolish upward-only rent reviews, is forcing many retailers out of business, writes Maeve Dineen in the Irish Independent. With the EU-IMF team having already expressed concern about upward-only rent reviews, she believes legislation will no doubt be forced ahead of the country’s next quarterly review in October, should the government fail to act soon.

Also:

Consumers lead the charge in organic retail revolution (Irish Examiner)

Ten firms per day go bust as liquidations increase 68% on last year (Irish Independent)

Thousands due to fight it out for temporary work over Christmas (Irish Independent)

Retail sales in Eurozone fell for the fourth month in a row in August (Finfacts.ie)

Right choice for quality food (Sunday Business Post)
– Review of Peter Ward’s Country Choice Delicatessen & Coffee Bar in Nenagh, Co Tipperary

Cut your prices: Quinn issues ultimatum to publishers (Irish Independent)

Retailers object to packaging tax plan (Sunday Business Post)

Carrefour makes £221m half-year loss (Guardian, UK)

Co-op boss says past six months toughest of his 40 years in retail (Guardian, UK)

Call for rent relief for retailers (Irish Examiner)

Retail body calls on FG to honour commercial rents pledge (Irish Examiner)

City could reap €2.5m from Harvest Festival (Irish Examiner)

100 jobs saved in shopping centre (Irish Independent)

Emergency meeting to tackle city traffic chaos (Galway City Tribune)

Bread study shows one in four loaves salty as packet of crisps (Guardian, UK)

Sainsbury’s launches candyfloss-flavoured grapes (Guardian, UK)

 

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