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Weekly Round-Up ... 4 May 2022

Gala Retail has announced that it will give away €30,000 of prizes for family days out at some of Ireland’s top attractions with its ‘Summer Days’ promotion, which is live in participating stores now. The ‘Summer Days’ promotion will see Gala stores give customers the chance to win family passes to some of Ireland’s most popular family attractions. Gala customers who spend over €10 in participating stores will be entered into a draw for the chance to win a family day out to Tayto Park, Fota Wildlife Park or Dublin Zoo this Summer, with guaranteed winners from every participating Gala store. Speaking about the Summer Days promotion, Gary Desmond, CEO of Gala Retail, said, “This Summer is set to be the Summer that everyone can get back to making the most of the school holidays, getting out and about to enjoy all of the fantastic locations and activities that Ireland has to offer. The Summer Days promotions gives Gala shoppers the chance to win family passes to some of Ireland’s top attractions for family days out, making the most of the Summer holidays, while making memories. Gala Retail is all about community and our communities and customers are part of the Gala family. The Summer Days promotion will run in participating Gala Retail stores until 29 May 2022. Further information about the promotion can be found on the Gala Retail social media accounts and here.

The Portuguese Association of Distribution Companies (APED) has called on the government to reduce VAT on essential products. Speaking to Economia Online, the director general of APED, Gonçalo Lobo Xavier, said that the 2022 state budget proposal does not “adhere to reality”, as it was prepared in October and November 2021. Lobo Xavier called for an “aggressive fiscal policy” to combat the effects of the war in Ukraine. According to the director general of APED, the Portuguese government “is too slow” in responding to the crisis, noting that other EU member states are “much more agile and effective”, particularly with regard to lowering the VAT on essential goods. Although he expects the prices of food products to rise, on average, by up to 30% by the end of the first half of 2022, Lobo Xavier provided reassurances that retailers are not increasing their margins, despite production costs increasing by up to 20%.

Struggling British convenience shop chain McColl's said on Tuesday it is likely to request the listing of its shares be suspended on 1 June as it will not meet a deadline to publish its annual results by the end of May. The 1,100-store group runs McColl's and Morrisons Daily branded convenience stores as well as Martin's newsagents. It employs about 16,000. It said the delay reflected the need for a conclusion to talks with key stakeholders around a potential financing solution for the business in order to finalise year to 28 November 2021 audited financial statements. As these discussions remain ongoing, the board has concluded there is now insufficient time in order to meet the current deadline for filing these results under the Listing Rules,' it said. McColl's warned last month that even if a financing solution is achieved it was likely to result in little or no value being attributed to the group's equity.The group has a wholesale tie-up with Morrisons, Britain's fourth biggest supermarket chain.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click sign up to subscribe to Checkout.

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