News & insights

Irish Retail at a glance for this week

Irish Retail at a glance for this week

Posted by Katie Pilgrim on Apr 30, 2014, 5:19:10 PM

Irish Retail

CPM Ireland’s leading field sales company, take a look at the Irish retail news for this week. Every Wednesday we share the recent announcements. This is a one stop shop for all your Irish retail news.

Retail sales surge but shop owners still struggling

Irish retail sales climbed nearly 9% in March from a year earlier on a sharp jump in car sales, data showed yesterday, adding to signs that the country's economic recovery is gathering pace. However, there remain concerns that high street retailers are continuing to struggle.

Retail sales volumes were up 8.9% in March compared to a year earlier, the data from the Central Statistics Office showed. Sales climbed 1.7% on a month-on-month basis, driven sales of cars, furniture and lighting.

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Price and value remain a key for grocery shoppers

The total grocery (FMCG) market in Ireland is valued at €15.1 billion increasing by 1.1% on the previous year according to research carried out by Nielsen.

In analysing the figures Linda Cullen, Food and Beverages Division, Bord Bia said Ireland’s consumer confidence increased by 8 points to 77% in the last quarter of 2013, which is the largest increase of all EU countries and is at its highest level since 2009.

She noted Irish consumers spend an average of €400 per month on grocery and personal care items, which is the fourth highest spend in Europe behind Norway, Switzerland and Denmark. The Irish shopper visits an average of 3.5 supermarkets over 4 weeks in the search for value, considering price, promotions, discounters and private label.

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Cork’s on the shopping list for international retailers

International retailers are beginning to focus on Cork once again, as money begins to move outside of Dublin and into the rest of the country.

According to Savills property consultants, who have been appointed to handle the sale and letting of a number of units on Patrick Street, a number of "high order" retailers are expected to rejuvenate the street this year.

Savills Cork director Peter O'Meara recently commented: "Stabilization has returned to the retail sector in Ireland and there is now a slow but steady improvement in trading conditions.

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Irish firms eye €100bn markets

Food and drink companies from Ireland are hoping to boost sales to Scandinavia's €100bn-plus retail and foodservice markets.

Six firms are taking part in a special EU-sponsored export programme called Access 6, and attended an event held at the Irish embassy in Sweden. The firms included Ferdia Fine Foods from Co Louth, Nutri Snax from Co Cavan and Monaghan burgermaker Rangeland Foods. Total Irish food imports to the Nordic region reached €257m in 2012 – a figure that Access 6 partners hope to build upon.

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€130m for Nama shopping centre portfolio

The National Asset Management Agency has confirmed the scale and identity of its first shopping centre portfolio to be offered for sale on the international market.
Joint agents Bannon and JLL have been appointed to handle the single lot sale of shopping centres at Blackpool in Cork, Balbriggan, Co Dublin and Clonmel, Co Tipperary, at a guide price of more than €130 million. At that valuation, the portfolio will show an initial yield of about 9.5 per cent.

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Retail Jewellers of Ireland appoints new president

The Retail Jewellers of Ireland (RJI) has appointed Alison Browne as its new president, outlining her plans to work closely with the National Association of Goldsmiths (NAG) to increase jewellery education and the SaferGems initiative across Ireland.

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Retail Therapy: Stars shine in fightback against suicide with shopping coupon charity drive

A unique charity fundraising event at Dublin’s prestigious Dundrum Town Shopping Centre has got the celebrity thumbs up. RTE TV presenter Aidan Power, broadcaster and writer Maia Dunphy, Fair City star Aoibheann Mc Caul and model and singer Nadia Forde were on hand in South Dublin to launch the ‘Shop For Good’ initiative. It is the first of its kind in Europe designed to raise vital funds for Console and Cycle Against Suicide.

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Contrasting fortunes for British brands

The Irish retail stores of UK brands, Wallis and Miss Selfridge enjoyed contrasting fortunes last year as Wallis returned to profit and Miss Selfridge slipped into the red. According to accounts just filed by the Tina Green-owned companies, they show that Wallis Retail (Ireland) Ltd recorded a £1.84m pre-tax (€2.3m) profit in the 12 months to the end of August 31 last following the firm recorded a pre-tax loss of £1.79m in fiscal 2012.

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Next raises forecast after stores enjoy strong first quarter

Next Plc (NXT), the U.K.’s second-largest clothing retailer, raised its full-year profit forecast little more than a month after setting it, as sales for the first quarter of the year exceeded analyst estimates.

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Can bargain-hunting US shoppers be convinced to spend in Penney's?

Boston, with its large Irish community, is a good beachhead for Primark to attempt its most ambitious retail invasion. Filene’s Basement was a pioneering retail institution in Boston. Located in the famous, now closed Filene’s store at Downtown Crossing in the centre of the city, customers went on a shopping treasure hunt seeking out elegant items of clothing made abroad at a discount in piles of bargains.

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