Dunnes Retains Its Position As Ireland’s Largest Grocer

Dunnes holds the highest grocery market share amongst all retailers, at 23.1%, with year-on-year growth of 15.8%, which stems from shoppers returning to stores 14% more often, equating to nearly two additional trips, research shows. The latest grocery market share figures from Kantar in Ireland show that Tesco holds 22.4% of the market, with 14.5% growth. Tesco has seen the strongest frequency growth amongst all retailers – 16%, year on year – contributing an additional €93.7 million to its overall performance. SuperValu holds 20.6% of the market and sees growth of 5.8%. Lidl hits a record new share of 13.6% and saw growth of 15.8%, year on year. Aldi holds a 12.1% share and saw growth of 11.3%, year on year.

Greencore has reported strong revenue growth in its first half, according to its latest financial results. The convenience food firm noted that it expects that its full year results are in line with expectations. Group revenue increased by 20.1% from its first half in 2022 to £925.8 million in its first half this year. The groups food to go revenue increased by 15.6% and other convenience categories’ revenue increased by 28.5%. Greencore attributed the increases to the recovery of cost inflation, new business wins and also underlying volume growth.

Aryzta has reported strong growth in its third quarter, despite persistent inflation. According to the Cuisine de France owner's latest financial report, it's organic growth was broad based across the group with France, Switzerland, Poland and Germany performing well in Europe. The rest of world continued its strong performance trend, which Aryzta noted was evident in recent quarterly updates. Urs Jordi, chair and interim CEO, Aryzta AG, commented, “Our business performed strongly in Q3 [Third quarter], achieving solid volume growth despite implementing further necessary price increases to recover persistent inflationary costs across our business.

Nestlé, the world's biggest packaged food company, said on Tuesday that it has hired the London Stock Exchange Group's (LSEG) finance chief Anna Manz as its new chief financial officer. Manz will replace Francois-Xavier Roger, who the company said is stepping down to "pursue new professional challenges" after eight years in the role. Nestlé, whose more than 2,000 brands include Kit Kat, Haagen-Dazs and Nescafé, said Manz will join Nestlé as soon as she is released from her current duties. She will become a member of Nestle's executive board as an executive vice president. Currently, there are five women on the 15-person board.

Irish consumer sentiment continued its steady recovery in May from its recent 14-year low as concerns about the increased cost of living eased a little more, a survey showed on Monday. The Credit Union Consumer Sentiment index climbed to 62.4 in May from 59.2 in April. That compares to September's low of 42.1 and the 77.0 recorded in February 2022, before Russia's invasion of Ukraine. Ireland's economy weakened late last year but still posted the fastest growth in the euro zone for 2022 and the finance ministry last month upgraded its growth forecasts for this year.

The British government is looking at plans to have retailers cap the prices of basic food items such as bread and milk, the Telegraph reported, as the cost of such essentials continued to rise in the double digits. However, asked about such price controls, health minister Steve Barclay told BBC TV it was "not my understanding" on Sunday. Prime Minister Rishi Sunak's No. 10 Office is in talks with supermarkets on a deal similar to one in France where major retailers charge the "lowest possible amount", the Telegraph reported on Saturday. The PM's office did not respond to Reuters' request for comment on the report, which cited sources within the government.

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