Top stories in the papers this week 29 May – 4 June 2010
Musgrave has €190m revenue in Spain; Retailers call for dedicated cigarette taskforce; Third of requests to cut rent rejected
Print4 June 2010
1. Musgrave has €190m revenue in Spain
Musgrave had revenues of more than €190 million at its Spanish operations last year, down slightly from its performance in 2008. The Sunday Business Post reports sales fell by 3.2% at Musgrave Espana’s c-stores and supermarkets – operating under the Dialprix, SuperValu and Dicost brands – but the group claimed this was a positive result, considering most of its stores were located in areas ‘‘hit hard by the crisis.’’
2. Retailers call for dedicated cigarette taskforce
Lobby group Retailers Against Smuggling (RAS) has called for a specialist Garda taskforce to be introduced to counteract street sellers of smuggled cigarettes. Retailers have complained of leaflets offering cheap tobacco being put through doors and on windscreens of Mass-goers’ cars around the country. RAS spokesperson Benny Gilsenan said in the Irish Independent: "At present there is an ad hoc approach from gardai with regard to illegal selling of cigarettes and that attitude is crippling the Irish retailer."
3. Third of requests to cut rent rejected
Landlords have rejected a third of requests from retailers to cut rents with many claiming their businesses will fail next year otherwise, the Irish Examiner reports. According to the IBEC lobby group Retail Excellence Ireland, almost all retailers asked for rent reductions in the past year. However the group’s David Fitzsimons noted over 30% have been refused a concession on rent and almost 80% claimed to require a rent reduction of more than 15% just to break even.
4. Cross-border shoppers are staying local
The Sligo Weekender reports the tide is turning when it comes to Sligo natives heading north for cross-border bargains. The current exchange rate means €1 is only worth 86p stg when it was previously worth almost 98p when the paper published a feature on the phenomenon back in December 2008. However, with food and drink prices falling by over 7% and fuel prices rising almost 20%, locals claim that after spending “25 or 30 quid on petrol,” the savings aren’t enough to “justify the trip.”
5. Women’s beauty products cost three times more
Women are paying up to three times the price paid by men for essentially the same beauty products such as razors and moisturisers, a survey by the Consumers’ Association of Ireland (CAI) has revealed. The Irish Times reports that when the CAI contacted manufacturers and retailers for an explanation, many queries were left unanswered and some responses were not satisfactory. "Manufacturers blamed the retailers for the prices they set but neglected to answer when we asked what their actual recommended retail prices were," said Consumer Choice researcher Sinead McMahon.
Also:
Greencore strikes deal with Superdrug (Sunday Business Post)
Consumers more positive but still reluctant to spend (Irish Examiner)
Government urged to press ahead with grocery sector code of practice (Clare Herald)
IAVI survey shows flexibility in retail rent renegotiations (Clare Herald)
Consumer morale falls again in UK (Irish Times)
IFA happy with new grocery code position (The Kingdom)
Hughes & Hughes book outlet brand saved (Irish Examiner)
Tesco to lease its supermarket at Carton Park in Maynooth (Irish Times)
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