Sunday 24 September 2017

Centra sales hit €1.5bn

Centra said it recorded retail sales of over €1.5bn in 2014, a 3pc increase on the previous year's performance. The retailer also revealed that it will add 380 jobs to the network this year, as 16 new stores are set to open in 2015.

Last year, Centra retailers invested €7m in store openings and refurbishment, adding 25,000 sq ft to the Centra network.

Centra's growth was underpinned by increased own brand sales, the introduction of its all day fresh food range, innovative products and services and delivering great value across all categories, the company said.

Sales of the Centra own brand range rose by 14pc, reflecting the trend of consumers switching to own brand products in recent years.

Start-ups jump at home

One hundred and thirty two start-up companies and businesses were established each day in January, according to a survey conducted by business information site Vision-net.ie.

That was one-fifth higher than the same period last year. Professional services accounted for a quarter of new companies last month.

The start-ups in the construction sector. The number of insolvencies recorded in January was down 38pc compared to the same period in 2014 with 57 Irish companies declared insolvent.

Germans cool on euro

German public support for the euro is dwindling worryingly due to the Greek crisis and the European Central Bank's decision to buy a trillion euros of government bonds, Finance Minister Wolfgang Schaeuble said.

"You have to see the danger, there's no question about that," the veteran conservative said at the Reuters Euro Zone Summit, when asked if renewed Greek turmoil and the debate about low interest rates were starting to turn Germans against the single currency.

Clear Channel sale

Clear Channel Outdoor Holdings has put on hold the sale of its European outdoor advertising business after the process was hit by a weaker euro, five sources familiar with the matter said yesterday.

Reuters reported last year that the US company's debt-laden parent iHeartMedia was working with Moelis and Citi to help sell the European assets in a deal potentially worth more than $2bn. The low euro means conditions are not attractive, sources said.

Irish Independent

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