Weekly Round-Up… 25 June, 2019
McDonald’s recently announced it will change its packaging for its McFlurry ice cream in September at its stores in the UK, according to The Independent. Additionally, the restaurant chain is preparing to serve salads in cardboard containers instead of plastic containers. Both of these changes are expected to reduce plastic waste by 485 metric tonnes each year.
Over four years, the profit for the average dairy farm rose from €850/ha to €1,236/ha. Agriland referenced IFAC’s Irish Farm Report 2019, which published 20 June, and said the report shows the top 10 % of dairy farmers have a turnover of 38%. However, the farmers only pay about 13% above average. The top 10% spend about 25% less cost per litre, even though they spend more per hectare.
Online and discount channels are expected to contribute to two-thirds of UK’s food and grocery industry’s growth over a five-year period. According to the latest market forecast from IGD, the industry is expected to increase by 12.5%, or £24.1 billion, by 2024. Discounters are the biggest contributor to the market and are expected to contribute £4 for every £10 of growth.
Kroger Co is expected to profit more than what analysts estimated. Improved stores and a focus on faster delivery helped the store grow. The company highlighted private label brand display, rearranged store layouts, expanded its online business and expanded home delivery and self-checkout services. These changes contributed to a 42% growth in digital sales during the first-quarter.
Retailers spend more than €49 billion every year because of shrinkage costs. The cost is the sum of the shrinkage value, 1.44% of turnover, and security expenses, 0.61%. The total cost represents 2.05% of the retail sector’s annual turnover.
Cattle farmers gathered at the European Union Commission offices in Dublin on Monday, 24 June to protest about the “double standards” exhibited in a trade deal with Brazil, Argentina, Paraguay and Uruguay. According to Newstalk, members of the IFA Livestock Committee are upset because the EU Commission warns the farmers about climate change but the commission’s trade deal does not follow EU standards.
Several Irish pubs are up for sale. Shearmans of Dunleer has the highest asking price at €950,000. The Tap of Kilbride is priced at €895,000 while the Finín's Restaurant and Bar of Midleton is marketed at €475,000. Both the Blue Hackle of Delvin and Donoghue's Bar of Cashel have an asking price of €395,000 each.
© 2019 Checkout – your source for the latest Irish retail news. Article by Libby Seline. Click sign-up to subscribe to Checkout.