Top stories in the papers this week 6 – 10 December 2010
EU/IMF study should lead to axing of retail store size cap; Tesco Q3 sales rise 7.2%; Gerald Kean: Who is liable if you slip on the ice?
9 December 2010
1. EU/IMF study should lead to axing of retail store size cap
The retail size cap will likely be finally lifted, after the Government conducts a new study on the economic impact of its removal as part of the EU/IMF bailout package. The Sunday Tribune reports the review will be done "with a view to enhancing competition." Implementation of its "policy implications" will be discussed with the European Commission, which the paper reports is seen by those in the industry as shorthand that the result is a formality.
2. Tesco Q3 sales rise 7.2%
Tesco claims overseas markets drove a 7.2% rise in its third-quarter sales and it has seen a pick-up in demand in its main British market heading into peak Christmas trading. The Irish Times reports sales at UK stores open more than a year rose 1.5%, excluding fuel and including VAT sales tax, in the 13 weeks to November 27th. Growth had reached up to 3%, despite a lower contribution from rising food prices compared with the second quarter.
3. Gerald Kean: Who is liable if you slip on the ice?
Solicitor Gerald Kean sheds light on the subject of who is liable if an individual slips on ice. Writing in the Evening Herald, he draws a distinction between private and public property and says private property owners including shopkeepers are subject to the principals of Occupier’s Liability, and owe those on their property a Duty of Care. A claim is possible if a breach in this duty occurs. In Kean’s view it is unfair that Public Authorities don’t currently appear to operate under the same duty of care.
4. Kraft seeks Starbucks injunction
Kraft Foods has escalated its battle with Starbucks, and has asked a federal court to stop Starbucks from trying to unilaterally end their lucrative deal to sell packaged coffee. The Irish Times reports Kraft denies Starbucks’ claims that it breached their partnership contract, including by not always meeting minimum advertising budgets. The food giant now argues that if Starbucks wants to scuttle the partnership, it must pay Kraft the fair market value of the business plus a premium of as much as 35%.
5. One in five to shop in North, says survey
Despite evidence by Retail Ireland that cross-border shopping is abating in 2010, one in five people will still take a shopping trip to the North between now and Christmas, according to a new AA Motor Insurance poll. The Irish Examiner reports a further 6% said that they will do some or all of their Christmas shopping elsewhere in the UK. More positively, 63% of respondents said that they will do their shopping locally this Christmas.
Retail Ireland: Budget will reduce spending power (Irish Examiner)
Budget Reaction: Business leaders (Irish Examiner)
-Including viewpoints of Eddie O’Brien, chief executive, Topaz Energy; John Corcoran, managing director, Korky’s Shoes; and John Moloney, managing director, Glanbia
Hershey’s Kisses set for British supermarket shelves (The Guardian)
Cold snap puts €250m freeze on retail sector (Irish Independent)
Arctic weather wreaks havoc on economy (Donegal Democrat)
Retailers demand pavement gritting as footfall figures slide (Belfast Telegraph)
US supreme court to decide if Walmart lawsuit can proceed (The Guardian)
UK high street sales growth slows (Irish Examiner)
Tesco regains market share as Morrisons slips (The Guardian)
Sweet tooth boost for luxury chocolate maker Lir (Irish Examiner)
Game’s sales slump eases but warning of Tesco competition (Irish Independent)
Over 500 apply for 12 part-time jobs (Westmeath Independent)
Michelin Star Chefs endorse Irish Beef across Europe (Waterford Today)
Shop inflation drops as desperate retailers slash prices (The Guardian)