Retail news round-up on November 19, 2015: Supermarket watchdog delays publication of Tesco probe findings, and B&Q’s losses widen at Irish arm.
Supermarket regulator delays publication of Tesco probe report
The Groceries Code Adjudicator has "taken a slightly longer” time to publish the findings of its inquiry into Tesco, in spite of the grocer admitting in its annual report several instances of probable breaches of the groceries supply code of practice.
The supermarket watchdog’s adjudicator, Christine Tacon, said in a newsletter to the industry that it now planned to publish the report “in the new year”.
The probe, which started in early February, is in its final stages. The investigation was due to be completed within six to nine months.
A spokeswoman for the regulator said that the delay was due to "the review of the evidence and scheduling appointments with the people the GCA wanted to talk to".
B&Q Ireland annual losses leap six-fold despite turnover surge
DIY retailer B&Q Ireland’s annual losses widened six-fold to €3.1m (£2.2m) on the back of a weaker euro and lowered prices.
However, the Irish arm had a slight rise in turnover to €78.5m (£55m) in the last financial year.
Like-for-like sales grew 5%, with total sales rising by €1.9m (£1.3m) last year.
The home improvement retailer said it had spent a year "re-energising the business through lower prices, simplifying in-store messaging and increasing customer transactions with targeted marketing".