Top stories in the papers this week 6 – 13 November 2012
Dunnes lifts food-shopping share to 22.4% as Aldi gains continue; Pretax profit halved at Dunnes UK; Festive season spend to be down
Print13 November 2012
1. Dunnes lifts food-shopping share to 22.4% as Aldi gains continue
Dunnes Stores managed to boost its share of Ireland’s €9bn grocery market in October to 22.4%, but the retailer still commands less of the market than it did a year ago, new figures show. The Irish Independent reports that according to Kantar Worldpanel data, Tesco remains the country’s biggest grocery retailer, with a 28.3% share. Aldi and Lidl now command over 12% between them, with Aldi continuing to be the "standout performer" in the Irish grocery market.
2. Pretax profit halved at Dunnes UK
Pretax profit at the UK business of Irish-owned retail group Dunnes Stores last year more than halved to £12.3 million (€15.3 million).The Irish Times reports that returns lodged by Dunnes Stores (Bangor) Ltd at Companies House in the UK show that revenues at the group declined by 6.5% from £177.8 million to £166.3 million in the year to the end of January 28th last, mostly due to overheads increasing and interest receivable dropping considerably.
3. Musgrave’s on the move
Musgrave Wholesale Partners (MWP) is relocating its Waterford Cash & Carry outlet to a 5,200sqm new generation MarketPlace unit at Waterford Retail Park (WRP). The Irish Independent reports Musgrave’s decided on the move because of its highly accessible location on Waterford’s outer Ring Road, and because of the attractive rental package with fixed uplifts providing them with certainty of cost over the lease term.
4. Festive season spend to be down
Consumer spending for Christmas is likely to be down slightly on last year but Irish adults will still spend over €500, according to new research conducted by the Irish League of Credit Unions. According to The Irish Times, the report shows Irish adults will spend an average of €527 on Christmas this year compared with €562 in 2011.It says eight in 10 Irish adults feel worse about their financial situation this year but 58% insisted Christmas would still be enjoyable.
5. Sugar tax on soft drinks on the way in next month’s Budget
Soft drinks could be hit with a Budget "sugar tax" – to raise revenue and curb obesity.A confidential report commissioned by Health Minister James Reilly recommends increasing the excise duty on fizzy drinks, the Irish Independent has learned. These drinks are already subject to a 23pc VAT rate, and the new tax is expected to be in the form of a 10pc hike in excise duty. This means soft drink prices could rise by up to 20c a bottle.
Also:
Surge in ‘invasive’ character checks on new staff (Irish Examiner)
Planning application lodged for €25m Liffey Valley project (Irish Times)
Jam-maker spreads the good news with expansion plans (Irish Times)
Food industry can be world leader in sustainability (Irish Times)
M&S chief may have his goose cooked if Christmas turns out to be a turkey (Irish Times)
Marks & Spencer green chief attacks government’s ‘uncertain’ policy (Guardian)
Fruit-flavoured cider sales grow 80% in a year (Guardian)
Diageo joins forces with Indian owner of Whyte & Mackay whisky brand (Guardian)
Asda leads petrol price cut (Guardian)
City boss quizzed over challenge to Cork retail project (Irish Examiner)
Thieves cost retailers over €500m every year
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