Value Of Irish Seafood Economy Increased To €1.3bn Last Year: BIM

The value of the Irish seafood economy increased to €1.3 billion last year – an increase of 4%, compared to 2021 – according to new figures from Bord Iascaigh Mhara (BIM). This was largely driven by an increase in the domestic consumption of seafood in Ireland and in the foodservice sector, as well higher prices, both domestically and in the main export markets. There was also a significant increase in government investment in 2022, as funding under the Brexit Adjustment Reserve began to come on stream. The BIM Business of Seafood report, launched by the Minister for Agriculture, Food and the Marine, Charlie McConalogue TD, reveals a 10% increase in government investment (€255 million) in 2022.

SuperValu has announced that it sold 3.5% more Easter eggs this year, compared to 2022. The retailer noted that white-chocolate eggs performed particularly well, but the overall top-selling Easter egg was the Cadbury Buttons small egg, which sold almost 300,000 units. Ian Allen, managing director, SuperValu, said, “We were pleased to see our shoppers treating themselves this Easter, while also finding value in our range of products. “We know these are challenging times, with budgets stretched by the cost-of-living crisis. We will continue to remain laser focused on meeting our customers’ needs, with the good-value, high-quality offering that they expect from SuperValu.”

XL has announced the opening of the new XL Cloghan Service Station, in Co. Offaly. RTÉ’s Marty Morrissey was master of ceremonies at the recent launch of the newly opened XL Cloghan store on Thursday 13 April, when members of the local community were invited to share in the celebrations. There was plenty to keep the whole family entertained at the launch, including balloon-modelling, stilt walkers and glitter tattoos, and a host of tasty treats on offer. XL Cloghan provides employment to 21 people locally, and XL’s newest retailer, Martin Grogan, was “delighted” with the turnout on the day. “We are very excited to provide this valuable service to the people of Cloghan,” Grogan said.

Musgrave MarketPlace, has announced that since 2016 it has donated over 1.2 million meals to 350 local charities and community groups in Ireland through its partnership with FoodCloud. The wholesaler noted that this donation equates to 520 tonnes of food and a saving of €1.5 million to Irish charities. FoodCloud is a social enterprise that connects businesses with surplus food to charities in their local communities, allowing them to donate food easily and directly to those that need it. Through its food donations, which may have otherwise been wasted, Musgrave MarketPlace has prevented 1665.92 tonnes of CO2-equivalent emissions from entering the earth’s atmosphere and damaging the environment.

Walmart Inc chief merchandising officer Charles Redfield is stepping down after just over a year in the role, according to an internal memo seen by Reuters on Friday, at a time the retailer is navigating a tightening spending environment. Redfield will assume an advisory role supporting the US business effective 1 May, John Furner, CEO Walmart US wrote in a memo to US-based associates on Friday, without naming a successor. The rejig comes at a time when inflation has eroded consumer spending power, denting Walmart's business and prompting the retailer to take up a cautious stance on 2023. Data from the Commerce Department on Friday also showed US retail sales fell more than expected in March.

The boss of Tesco on Thursday hit back at the suggestion Britain's biggest retailer is making excessive profits as consumers struggle with a cost of living crisis. Consumer group Which? and trade union Unite were both critical of the retail profit of £2.49 billion ($3.11 billion) Tesco made in its 2022-23 financial year. Which? said Tesco, which has a 27% share of Britain's grocery market, should be working harder to make food more affordable for consumers while Unite accused Tesco of 'rampant profiteering. "How can it be that at a time when millions are struggling to feed their families Britain’s biggest supermarket is profiteering as never before," Unite general secretary Sharon Graham said. She was also critical of Tesco's announcement it would buy back a further £750 million of shares this year.

PZ Cussons Plc reported higher quarterly like-for-like revenue on Thursday, buoyed by an improvement in the soap maker's margins due to price hikes earlier in the year, and its strong performance in the Europe and Americas markets. Consumer-facing companies have been raising prices to fight margin pressures from elevated costs of everything from raw materials, transport and labour. This has also offset lower consumer spending so far. "We remain confident in delivering against 2023 expectations and that further strategic progress will be made in the balance of full year and into 2024," Jonathan Myers, CEO said in a statement.

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