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Weekly Round Up... 17 July, 2018

Published on Jul 17 2018 10:54 AM

Weekly Round Up... 17 July, 2018

Tesco report that England’s World Cup run combined with the recent heatwave has seen the British public stock up on outdoor dining goods as BBQ fever continues into its third week. The UK’s number one retailer said that customers have been creating a huge demand for BBQ food, beer, wine as well as ice and electric fans to keep cool.

Credit insurers have reduced the cover for its suppliers to Debenhams is the UK to add to its Brexit worries. A month after its third profit warning of the year, the department store chain is adamant that it is still in a “healthy” cash position, and they have a constructive relationship with its suppliers.

During the week, Revenue seized over 7.95 million smuggled cigarettes with a retail value of over €4.33 million, representing a loss of €3.42 million to the Exchequer. Revenue also seized 7.5Kgs of unstamped tobacco worth approximately €8,000, representing a potential loss to the Exchequer of €6,858.

Poundland has announced plans to close another 80 stores in the UK, resulting in the loss of 1,024 jobs. The store had initially announced the closure of 25 stores, which would see 242 staff lose their jobs. The company went into administration last month and has been seeking a buyer for the business as a whole.

The Campbell Soup Company has announced Diego Palmieri as the new vice president and chief marketing officer of its US Meals & Beverages unit. Palmieri will take on the position as of 18 July, after having previously been the general manager of SC Johnson China.

© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition. 

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