European Retail Briefing
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Table of contents
ANALYST COMMENTDIY: A Tough Climate
What we’ve seen
Mixed performance in the DIY retail sector
Figure 1: DIY retail sales, March 2009-March 2011
Leading retailers manage the situation
Figure 2: Performance of the leading retailers, Q1 2011
Who is losing out?
Greater opportunities lie further afield
What it means
HEADLINES FOR THE MONTH
Grocers
Clothing retailers
Department stores
DIY retailing
Electricals retailing
Health and beauty retailing
RETAIL SALES REVIEW
Key points
FRANCE
Figure 3: France: Retail sales trends, 2010-11
Inflation
Figure 4: France: Inflation, 2010-11
GERMANY
Figure 5: Germany: Retail sales trends, 2010-11
Inflation
Figure 6: Germany: Inflation, 2010-11
ITALY
Figure 7: Italy: Retail sales trends, 2010-11
Inflation
Figure 8: Italy: Inflation, 2010-11
NETHERLANDS
Figure 9: The Netherlands: Retail sales trends, 2010-11
Inflation
Figure 10: The Netherlands: Inflation, 2010-11
SPAIN
Figure 11: Spain: Retail sales trends, 2010-11
Inflation
Figure 12: Spain: Inflation, 2010-11
UK
Figure 13: Retail sales trends, 2010-11
Inflation
Figure 14: UK: Annual percentage change in Consumer Price Index for selected product groups, 2010-11
RETAILING IN THE ASIA PACIFIC REGION
CHINA
Key facts
THE CHINESE RETAIL SCENE
Human rights issues
Encouraging freedom
Reaping the rewards
Uncertainties remain
Rise of modern retail
Foreign retailers invest
CHINA IN FIGURES
Population
Figure 15: China: Population trends, 2001-10
Figure 16: China: Population by age group and gender, 2009
Economy
Figure 17: China: Gross domestic product, 2001-10
Figure 18: China: Household consumer expenditure, 2000-09
Figure 19: China: Breakdown of household consumer expenditure by category and place of residence, 2006-09
Figure 20: China: Inflation, 2001-10
The Chinese retail market
Figure 21: China: Retail sales, 2004-10
Figure 22: China: Retail outlets and employees, 2008 and 2009
Figure 23: China: Retail outlets, by format, 2009
Figure 24: China: Retail data, by region, 2009
Figure 25: China: Retail sales, by type of outlet, 2009
Figure 26: Retail Sales by category of commodity, 2007 and 2008
Figure 27: China: Top 100 retail chains, 2010
High food investment
Figure 28: China: Leading food retailers, 2010
High disposable incomes increase discretionary spend
Figure 29: China: Leading electrical specialists, 2010
Figure 30: China: Leading department store operators, 2010
Foreign players increasing
Figure 31: China: Leading foreign retailers, 2010
Figure 32: Bailian Group: Group financial performance, 2006-10
Figure 33: Bailian Group: Outlet data, 2006-10
NEWS ANALYSIS
GROCERS
Europe: Spar reports solid full-year growth
France: Carrefour plans Madrid listing for Dia and reiterates FY targets
France: Intermarché opts for drive-thru e-commerce
Denmark: Dansk Supermarked reports fall in Q1 sales
France: Systeme-U acquires online grocer Telemarket
Germany: Rewe
…launches premium format
…reports strong full-year results
Italy: Esselunga reports solid full year profit
Lithuania: Lidl negotiates land acquisition for new stores
Netherlands: Ahold
…loses CFO to Avon
…sees strong Q1 results, driven by US sales
Romania: Rewe appoints head of Billa
Russian Federation: Magnit disappoints with Q1 profit, but sales grow
Russian Federation: X5 Retail sales rise in first quarter
Spain: Consum full year sales grow
Switzerland: Migros reduces further prices
UK: Asda
…considers bid for Iceland
…makes £27m food quality investment
…opens converted Netto stores
…reports flat like-for-likes
…to open George clothing stores in Middle East
UK: Asda Income Tracker: Families £13 worse off
UK: Co-op
…members give £3m to charity
…relaunches Truly Irresistible in sales push
UK: Greggs sees continued total sales growth
UK: Haldanes files for administration
UK: Heron Food sales rise but profits fall
UK: Iceland Foods
…goes on sale, with bids expected to reach £2bn
…profits rise 20%
UK: Morrisons
…buys wholesale florist
…prepares bid for Iceland
…saves up promotions for shoppers' payday
UK: Sainsbury's
…expands Click & Collect network
…looking to attain growth 'beyond food'
…profits up 9%
…Shapland leaves
UK: Tesco
…appoints digital and marketing officer
…expands click-and-collect service
…Japan boss takes UK role
…looks to entice fashion brands
…to launch new brands
…trials in-store 'sat-nav' system
UK: Waitrose
…to launch healthy range
…to launch high street cafe
Ukraine: Metro reveals plans for rapid growth
CLOTHING RETAILING
France: Abercrombie & Fitch enters the French market
France: Hermes' sales rise 26%
France: LVMH re-purposes the Samaritaine building to include affordable housing
Italy: Prada valued at £9bn
Switzerland: Richemont profits rise
UK: American Eagle circles London for first UK stores
UK: Ann Summers to re-launch sex toys as part of re-branding strategy
UK: Arcadia
…marketing boss joins M&S
…Green to sell Bhs stores to Primark
UK: Aurora to extend 90-minute delivery option outside M25
UK: Bravissimo profits hit by Pepperberry
UK: Burberry
…expects 40% profit rise
…focuses on flagships as profits rise
UK: French Connection confident it will hit yearly targets
UK: George at Asda turns 21 and sparks new plans
UK: H&M
…sales rise with warm weather
…to open first UK concession in Selfridges
UK: Hobbs to launch contemporary sub-brand
UK: Jane Norman
…boss exits
…up for sale
UK: Kookai sales fall after repositioning
UK: Life & Style on brink of administration
UK: Mango changes logo to appeal to mature customers
UK: Moss Bros reports like-for-likes up 8.2%
UK: New Look profits fall sharply
UK: Peacocks appoints Allan Leighton
UK: Phase Eight reports 42% rise in pre-tax profits
UK: SuperGroup
…acquires Austin Reed Regent Street store
…growth slows in Q4
UK: TK Maxx slows expansion to cope with tougher trading
UK: Topshop launches 'secret' in-store pop-up shop
FOOTWEAR RETAILING
UK: Dune relaunches website in bid for 50% growth
UK: Jimmy Choo sold for £50m
UK: Kurt Geiger
…launches discount website
…sold to Jones Group for £215m
UK: Shoe Zone profits fall after store investment
MULTI-SECTOR RETAILING
UK: HMV
…close to securing £210m refinancing deal
…receives £43m cash bid for Waterstone's
…sells Waterstone's to Russian billionaire
UK: Argos sales down, but Homebase steady
UK: 99p Stores sees profits rise amid international plans
UK: Laura Ashley like-for-likes down
MISCELLANEOUS SPECIALISTS
UK: SCS to open carpet department in stores
UK: Albermarle & Bond full year trading to be at top end of expectations
UK: Halfords
…Autocentres reports improved sales
…profits up 7.2% despite tough retail sales
…trials smaller high street bike shops
UK: Mothercare to close outlets as profits slump
MIXED GOODS RETAILERS
UK: B&M Bargains
…acquires 11 Focus stores following Focus' collapse
…reports strong year
UK: Marks & Spencer
…bolsters food division team
…chief considers moving company upmarket
…sees profits and market share rise
DEPARTMENT STORES
Italy: La Rinascente bought by Central Retail Corporation
UK: Debenhams suppliers compete in auction-style bidding war
UK: Harrods launches iPhone app
UK: Harvey Nichols owner eyes Aurum
UK: HoF and Debenhams kick off summer sales early
UK: House of Fraser
…closes £250 bond issue
…reports strong full year profits
…to launch Portas collection
UK: John Lewis
…confirms commitment to NKU
…sales down
DIY RETAILING
Germany: Hornbach Group reports rising sales
UK: B&Q opens nine new You Can Do It Centres
UK: Focus DIY
…business receiving "fantastic level of interest"
…stores acquired by Wickes and B&M Bargains revealed
…to close 120 stores
UK: Kingfisher attributes strong first quarter to good weather
UK: Topps Tiles reports flat profits and sales
UK: Wickes acquires 13 Focus stores for £8.4m
ELECTRICAL RETAILING
Russian Federation: Eldorado to revamp outlets
Russian Federation: M.Video to continue with growth plans
Spain: Dixons offloads eight PC City stores
UK: Comet
…like-for-like sales fall 15.2%
…‘We’re not closing down’
UK: Dixons
…agrees £59m sale and leaseback deal
…teams up with big brands for service push
…to drive profit through its Knowhow service division
…UK like-for-likes fall
UK: Everything Everywhere opens 30 own name stores
UK: Jessops opens 2nd Centre of Excellence store
UK: Kesa considers disposal of Comet
UK: Maplin sees three directors leave
HOME SHOPPING
UK: Asos profits up 41%
UK: Brand Alley seeks £87m to fund growth
UK: Findel profits fall as turnaround begins
UK: N Brown reports full year profits rise 5.5%
UK: Ocado sales growth slows but first half EBITDA up
UK: The Hut acquires Myprotein.com for £58m
UK: My-Wardrobe.com like-for-like sales rise 96%
HEALTH AND BEAUTY RETAILING
Germany: Celesio reports fall in Q1 profits
Germany: Rossmann sees full-year double digit growth
UK: Alliance Boots sees profits rise
UK: Lloyds Pharmacy launches new website
BOOK AND STATIONERY RETAILING
UK: Clinton Cards reports fall in like-for-like sales
UK: HobbyCraft unveils new store concept
UK: Staples to roll out in-store entrepreneurial courses
SPORTS AND LEISURE GOODS RETAILING
UK: American Golf sees sales rise
UK: Go Outdoors secures £30m credit facility to fund expansion
UK: JD Sports like-for-likes fall, but in line with expectations
UK: JJB warns turnaround could take five year as losses triple
JEWELLERS
UK: Signet
…considers sale of UK arm
…insists it will continue to invest in UK
…UK like-for-likes remain flat
TOYS AND GAMES RETAILING
UK: Disney Store makes sharp cut in losses
UK: Early Learning Centre launches new mobile website
ECONOMY
UK: BRC
…says UK consumers lack optimism
…Like-for-like sales fall 2.1% in May
…responsible retailing guide for kisdwear sees retailers sign up
UK: British Land to begin new developments
UK: Capital Shopping Centres plans expansion as footfall grows
UK: CPI annual inflation rise to highest level in 2.5 years
UK: Food inflation at highest level in two years
UK: Hard discounters and Waitrose post strong growth
UK: Like-for-like sales rise 5.2% in April
UK: Retail sales rise 6.2% in April
UK: Suit prices to rise by 10% as wool prices reach record high
UK: Westfield London sales grow 19.8% in Q1
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