Since the first Covid case was recorded in Ireland, shopping centre values have declined by 24%, with those on Grafton Street and Henry Street falling by 35% and 43%. Backing up the depressing outlook for retail property are the latest numbers from Mike Ashley’s network of Irish stores.
Fashion retailers New Look, Tommy Hilfiger and Gucci have all posted results for their Irish operations. They show the impact of the pandemic on retail, and the various strategies used by the three international chains to weather the crisis here.
Keanes Jewellers is more than a family business – it is a Cork institution. And its heritage is significant for Patrick Keane, a third-generation scion of the business. He talks about the future of retail and the importance of securing the right brands.
The Pettitt family controls six supermarkets, six hotels and a scattering of other business interests. Diversification left them well placed when Covid-19 arrived. But they still managed to find significant cost savings during the pandemic.
Superquinn heir and serial investor Eamonn Quinn believes the smartphone has been a gamechanger for retail, giving consumers enhanced power. Despite the crisis, he says retailers can flourish if they harness data, AI and meaningful customer service.
Judging by the usage of its loyalty card, more than 651,000 individuals shopped at Boots in Ireland last year. While other foreign-owned retailers are retreating from Ireland, the pharmacy chain remains a cash cow for its owners.
The founders of the ice-cream parlour business have sold a significant stake to the food-focused private equity firm. Hilliard Lombard and David McKernan plan to grow the chain to between 10 and 15 outlets within two or three years.
The landlords of the MacDonagh Junction Shopping Centre have lodged proceedings against the profitable Irish owned jewellery chain.
Non-essential retail outlets are set to open in the coming days. But just what sort of trading environment will they open to? An analysis of two retail chains at opposite ends of the financial spectrum offers an insight into the future of the high street in a post pandemic world.
Ireland’s book industry was largely unscathed by the lockdowns last year. This was largely due to the increasing number of retailers who have grown their online presence. Cáit Caden talks to people in various areas of the industry about the challenges and the perks of working in the book business.
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