Ireland news

Tesco has released encouraging interim results with improvements in underlying sales as it pursues its strategy of working to regain competitiveness in the UK, strengthen its balance sheet and rebuild trust and transparency Headline numbers: improving sales trends in UK and international Group sales down 0.3% to £23.9bn (constant exchange rates) Group statutory operating profit of £35...

Following Tesco's interim results, we highlight five ways in which the retailer's new strategy is delivering positive outcomes. 1. UK recovery is on track  Tesco's ongoing investment into the customer offer though service, availability and price is driving a return to positive volume growth and an improved UK sales performance. Tesco has delivered a steady and consistent improvement in like...

According to Retail Week, four senior managers from across Lidl's UK and Ireland businesses have each been appointed to roles in a different market, including a new appointment as international purchasing director at the discounter's headquarters in Germany. UK: key moves from Ireland Following three years as chief operations officer of Lidl Ireland, Martin Bailie has moved to the UK...

Despite much speculation, Tesco's Chairman has confirmed that the retailer has not discussed any further material overseas disposals of its operations. South Korean disposal approved by shareholders At a meeting for shareholders, where the retailer's sale of its South Korean operation was approved, the Tesco Chairman, John Allan, commented that the business was not in discussions to sell...

We update on the latest Kantar Worldpanel market shares for the 12 weeks to 13 September 2015 and report on Iceland's plans to grow in Ireland over the next five years. Tesco: returning to growth The Irish grocery market has delivered eighteenth months of consecutive growth, with year-on-year sales in the latest 12 weeks up 1.8%. For the first time since March 2013, Tesco has returned...

Poundland has announced its launch online in the UK, a move which has been highly anticipated since its intentions to trial a transactional website were announced in early 2014. No minimum orders Poundland has announced its launch online in the UK, a move which has been highly anticipated since its intentions to trial a transactional website were announced in early 2014. Delays to t...

Musgrave Group has reported improved results for the financial year ending 27 December 2014 and predicted a return to profit in 2015 as the business begins to benefit from a multi-year transformation plan and a recovery in the Irish economy. Sharp reduction in losses The Ireland-based symbol group and wholesaler recorded sales of €4.6bn (0.7% down on 2013), which after exceptional items, pr...

A new leadership team is taking shape in Ireland as Andrew Yaxley takes action to revive Tesco's performance as the country is brought into Matt Davies' new UK and Ireland division. Tony Keohane retires from Tesco Keohane was chief executive of Tesco Ireland for many years, before becoming chairman in July 2013 when Phil J Clarke took on the role. Clarke led the business until Yaxley, who w...

Tesco has reported an improvement in trading in the UK and in international markets, as its new focus on lower prices and improving the shopping trip begins to deliver. UK: lower prices impact LFLs In the UK, LFLs improved to -1.3% in Q1 in the 13 weeks to May 30th, from -1.7% in Q4 and from -4.0% a year ago. Total sales ex-fuel and ex-VAT were -0.3%. This is despite significant price defla...

Poundland has reported full year sales growth of 11.4% for the year to 29 March 2015. Underlying pre-tax profits reached £43.7m, a strong performance at +18.6%, while the retailer has also announced that Trading Director Richard Lancaster is to leave the business. Record sales exceed £1bn Poundland hit a milestone in the last full financial year with sales reaching £1.1bn. A healthy sales y...