Top stories in the papers this week October 29 – November 5 2012

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Over half a billion stolen from retailers every year; fall in Kerry Group shares; KBC predict tough Christmas season ahead



5 November 2012

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1. Thieves cost retailers over €500 million every year

Goods worth more than €500m are stolen from shops every year and crime levels are rising, a business lobby group has claimed. The Irish Independent reports that a new report from Retail Excellence Ireland, IBEC’s pressure group for shops, said more than half have seen an increase in shoplifting, fraud and robbery in the past two years, and goods worth about €512m are stolen annually. The report says 52% of retailers said overall crime in their stores had increased since 2010, while 49% of stores have had to deal with cash robberies.

2. Kerry shares fall after firm predicts lower earnings growth for the year

Shares in Kerry Group fell after the food giant marginally cut its full-year earnings guidance and said it was dealing with ongoing problems in its Irish consumer foods sector. The Irish Independent says that in an interim management statement covering the nine months to the end of September, the Tralee-based company said it now expected to post earnings per share growth for 2012 of between 9% and 11%, down slightly from the 8% to 12% it had previously indicated. 

3. Surge in ‘invasive’ character checks on new staff

The country’s largest trade union group says some employers are engaging in "invasive" character checks on jobseekers, including on their financial circumstances, which could make it more difficult to secure employment. The Irish Examiner quotes The Irish Congress of Trade Unions which said it was aware of the growing use of pre-screening of jobseekers by employers, as a survey suggested 39% of retailers had stock stolen by staff.

4. KBC predict tough Christmas period for shoppers

There is a warning today that the outlook for spending over the Christmas period is weak. Breaking News reports that the monthly index of consumer sentiment from KBC Bank and the ESRI showed a very slight increase this month. It rose from 60.2 last month to 60.9 in October but that jump follows a drop of nearly 10 points in September. KBC bank says sentiment for the past two months has dropped from levels seen during the summer, and they are predicting a tough Christmas period for shoppers and retailers alike.

5. Tesco and Lidl to use traffic light labeling

It’ll be green for go when a new system of ‘traffic light labels’ hits our grocery shelves. The Herald reports that plans are in place for supermarkets to adopt a new system to make it easier for customers to know which foods are healthiest before they buy. The project, which was agreed by all major UK supermarkets in recent days, will be tried here by Tesco and Lidl. It will involve the stores placing red, amber and green labels for packaged foods to indicate if they are high in calories, fat, saturated fat, sugar and salt.



16% of shops vacant on Limerick’s main thoroughfare (Limerick Leader)

Diageo takeover of whiskey firm in doubt (Irish Examiner)

Top retailing award for Clonmel store (The Nationalist)

High tech safe cigarette may soon be up in smoke (Irish Examiner)

BoI refits Grafton Street store to support start-ups (Irish Independent)

NCR rises as it strikes deal with Wal-Mart Stores (Dublin News)

Investors cry foul over privatizing KFC franchisees in Malaysia (4 Traders)

Action need to halt the decline of Athlone’s main streets (Westmeath Independent)

Thousands of firms at risk over rates hike (Irish Independent)

Greek parliament to vote on €13.5bn austerity package (RTE)

China – Wal-Mart to open 100 new stores (Meat Trade News)

Checkout nation: our new habits (Irish Times)





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