Top stories in the papers this week 6 – 11 June 2012
Tesco UK sales fall for more than a year; Marks & Spencer to open banks in 50 British shops; Inflation unchanged despite hike in costs of alcohol
Print11 June 2012
1. Tesco UK sales fall for more than a year
Tesco has reported another quarter of falling sales in the UK after money-off coupons and improved customer service failed to win back disgruntled shoppers. The Guardian reports the domestic chain has now posted six quarters of falling sales. However CEO Philip Clarke said it was early days in the group’s turnaround and that very little of the planned £1bn investment had been spent.
2. Marks & Spencer to open banks in 50 British shops
Marks & Spencer plans to open 50 bank branches in its UK stores within two years, The Irish Times reports. Marks & Spencer will open the first branch at its flagship Marble Arch shop in London in July as part of a joint venture with HSBC. Customers will be able to open new chequing accounts by the autumn as part of ‘M&S Bank’, and mortgages are also planned.
3. Inflation unchanged despite hike in costs of alcohol
The price of beer, wine and spirits all increased in May, new figures from the Central Statistics Office show. The Irish Independent reports that statisticians blamed a reduction in the number of special offers in supermarkets and off-licences for the spike in the cost of alcohol. The increases occurred despite strong competition among retailers ahead of the Euros. Over the past year, the cost of alcohol and tobacco has risen by 4.2%.
4. Future of €34 million retail park to be decided
A decision on controversial plans to construct a €34 million retail park on the outskirts of Ennis is to be made shortly by An Bord Pleanála, the Clare Champion reports. According to developers Michael Lynch Ltd, if given the green light, the development would lead to the creation of around 300 jobs.?However, those opposed to the plans have expressed fears it could lead to a ‘doughnut’ effect, taking business from the town centre.?
5. Wal-Mart may block suit by employees
Wal-Mart Stores Inc may be able to block a discrimination suit brought by 45,000 female employees in California because of an earlier US Supreme Court ruling in the retailer’s favour, a judge said. The Irish Times reports US district judge Charles Breyer said at a hearing yesterday that he was “seriously concerned” that lawyers for the women haven’t shown enough evidence to allow the group, or class action, complaint to proceed.
Also:
Convenience stores in appeal for “realistic rates” (Cork News)
Heinz chief’s advice on emerging markets is food for thought (Irish Times)
New card could ease burden on retailers and consumers alike (Cork News)
One4all launches first Irish Retail Week (Inside Ireland)
Sun helps to brighten retail sales (Belfast Telegraph)
Bring collection site network open for plastic this summer (Irish Examiner)
Midleton cleans up after flooding (Irish Times)
London investment fund pays £17.4m for Derry retail park (Belfast Telegraph)
Best shops in Ireland (Irish Times)
Aryzta warns on results of European division (Irish Times)
Tesco UK sales fall for more than a year (Guardian, UK)
Clinton Cards loses 400 jobs as more stores close (Guardian, UK)
Slump hits the wallets of Marks & Spencer and Sainsbury bosses (Guardian, UK)
Tesco reports new sales dip (Belfast Telegraph)
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