Table of Contents
Analyst Comment
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- Morrisons – Still the smallest and weakest
- Zero-sum game
- But what about Morrisons?
- Taking the management’s eye off the ball
- Some progress
- Still to do
- The low point?
Retail Sales – Background and Outlook
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- Key points
- Retail sales trends
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- Figure 1: Retail sales trends, 2011-12
- BRC data for August
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- Figure 2: UK retail sales y/y growth, BRC vs ONS, 2010-12
- John Lewis
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- Figure 3: John Lewis: Year-on-year growth, 2011-12
- Inflation and wages
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- Figure 4: RPI vs average weekly earnings growth, 2008-12
- Inflation
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- Figure 5: Annual percentage change in the consumer price index for selected product groups, 2011-12
- Looking forward
Sector Focus – Electrical Goods Specialists
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- Mintel’s Tracker survey
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- Figure 6: Mintel’s Tracker survey: Trends in activities done and consider to do, Jul-Oct 2012
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- Figure 7: Trends in what extra money is spent on, Nov 2009-Oct 2012
- Retail sales and consumer spending
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- Figure 8: Retail sales (inc vat), 2007-12
- Figure 9: Consumer spending (inc vat), 2007-11
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- Figure 10: Year-on-year growth in consumer spending, Q1 and Q2 2012
- Comet’s administration: what happened?
- So what does Comet’s demise mean for the electrical specialists sector?
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- Figure 11: Leading electrical goods specialists’ market shares, 2010 and 2011
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- Figure 12: Leading electrical goods specialists’ revenues (excl vat), 2010-11
Headlines for the Month
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- Grocers
- Other food specialists
- Clothing retailing
- Footwear retailing
- Mixed goods retailing
- Department stores
- DIY retailing
- Electrical retailing
- Furniture retailing
- Home shopping
- Shopping centres
- Economy
New Analysis
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- Convenience stores
- UK: SPAR trials new look store
- Co-ops
- UK: Co-op
- …to close six more stores
- …launches Christmas savings scheme trust
- Grocers
- UK: Asda
- …to launch click-and-collect service
- … to launch customer insight engine
- UK: Booths reports fall in pre-tax profits
- UK: Food labelling to be revised
- UK: George takes 70% space at new 840,000 distribution centre
- UK: Morrisons
- …launches Morrisons Cellar online
- …reports fall in Q3 sales
- UK: Sainsbury's
- …grabs entertainment share from rivals
- …to manage hospital pharmacies
- …launches new scan and shop app
- …to trial mobile phone shop-in-shops
- …records strong market share growth
- UK: Tesco
- …invests £25m in UK farming
- …named top UK retailer on climate change
- …sells Fresh & Easy products in UK stores
- …targets on-the-go shoppers with online commuter zone
- …Tesco trials new delivery system
- …to deliver Clubcard rewards digitally
- UK: Waitrose
- …achieve zero food waste to landfill aim ahead of target
- …looks to expand loyalty scheme
- …to donate £1 million to charity
- …grabs highest grocery market share in its history
- UK: Whole Foods Market opens in Cheltenham
- Other food specialists
- UK: Greggs releases interim results
- UK: Thorntons reports 1.7% decline in like-for-like sales
- Clothing retailing
- UK: All Saints profits plunge
- UK: Alfred Dunhill appoints new CEO
- UK: Arcadia increases use of UK factories
- UK: Aurora Fashions to launch 60-minute delivery option in 2013
- UK: Ben Sherman's chief executive to depart
- UK: Blue Inc expects Christmas cheer as full-year profits soar
- UK: Burberry
- …posts profit rise
- …reports 8% rise in sales
- UK: Calvin Klein brands to be reunited
- UK: Chanel acquires Barrie Knitwear
- UK: Diesel confirms appointment of new creative director
- UK: Esprit plans brand revival
- UK: Fashion will dominate in the eastern Oxford St revamp
- UK: Firetrap team awaits news on job losses
- UK: Guess? appoints new managing director
- UK: H&M reports 6% boost in September sales
- UK: Hackett reports 30% rise in profits
- UK: Hobbs looks to target office workers with pop-up shops
- UK: Jack Wills to axe sister brand
- UK: Jacques Vert
- …boss Paul Allen to stand down
- …to axe brands
- UK: Jaeger makes Stewart Binnie executive chairman
- UK: Joules returns to profit
- UK: LVMH
- …to sell fastest-growing fashion brands
- …reports increase in revenue
- UK: Longchamp opens eighth Hong Kong store
- UK: Matalan appoints new chairman
- UK: Michael Kors to open store in Covent Garden
- UK: Moss Bros appoints new non-exec director
- UK: Mulberry issues profit warning
- UK: New Look inform suppliers financial position is healthy
- UK: Next 3rd quarter trading figures
- UK: Primark reports 15% boost in revenue
- UK: SuperGroup experiences sales boost
- UK: Thomas Pink introduces one-touch technology
- UK: TJX UK announces 62% drop in pre-tax profit
- UK: Victoria’s Secret to open UK stores outside of London
- UK: Whistles plans new flagship store
- UK: White Stuff chief executive steps downs
- UK: Wilkies secured through management buy-out
- Footwear retailing
- UK: Clarks’ online kids’ shoes offer proves successful
- UK: Dune Group reports 13% rise in sales
- UK: Office to open first out of town store
- UK: Russell & Bromley reports rise in profits
- UK: Ugg to open new concept store
- Multi-sector retailers
- UK: Marks & Spencer
- …slides again
- …first-half profits fall
- …launches in-store next day delivery service
- Mixed goods retailing
- UK: Argos
- …expected to accelerate store closures
- …to leave catalogue heritage behind
- UK: B&M attracts private equity bids
- UK: Home Bargains reports 42% rise in pre-tax profit
- UK: The Original Factory Shop
- …reports 30% rise in pre-tax profits
- …sees earnings drop despite revenue growth
- Department stores
- UK: Debenhams
- …sees strong full-year results
- …to open store in Wandsworth, London
- UK: Fenwick reports fall in profits and turnover
- UK: Harrods opens new distribution centre
- UK: Harvey Nichols opens pop-up shop in Liverpool
- UK: House of Fraser plans to double turnover from multichannel division
- UK: John Lewis opens its first full line flexible department store
- UK: Liberty’s head accessories buyer exits
- UK: Selfridges
- …appoints director of multichannel
- …sales break through £1 billion barrier
- DIY retailing
- UK: B&Q sublets store to Asda
- UK: Homebase to close 40 stores in next five years
- UK: Kingfisher to invest £60 million in multi-channel retailing
- UK: Travis Perkins reports sales slump
- Electrical retailing
- UK: Apple retail boss in shock departure
- UK: Comet
- …launches personalised e-gift card service
- …likely to file for administration
- …management confirms plan to enter administration next week
- …owner OpCapita among its creditors
- …to accept gift cards again
- …to launch Clearance Sale
- UK: Dixons to recruit over 3,000 Christmas workers
- UK: Maplin secures £20 million to fund expansion
- Carpet retailing
- UK: Carpetright sees like-for-likes steadily increase
- Furniture retailing
- UK: DFS reports record results
- UK: Dreams' chairman steps down
- UK: Ikea sees sales surge in the UK
- Home shopping
- UK: Abel & Cole
- …nears sale
- …sale confirmed
- UK: Amazon
- …considers bid for Asos
- …introduces collection lockers to Martin McColl stores
- UK: Asos
- …faces staff departures
- …hires former M&S retail chief
- …reports 31.7% rise in pre-tax profits
- …shares fall as directors sell £50m of shares
- …to launch local language sites in Russia and China
- UK: eBay relaunches website
- UK: My-Wardrobe to focus on womenswear
- UK: N Brown reports 4.5% fall in profits
- UK: Ocado
- …close to covenants breach
- …head of non-food business set to leave
- UK: Play.com launches online marketplace
- UK: Shop Direct reduce pre-tax losses by 37%
- UK: Simply Be look to recruit empathetic staff size 14 and over
- UK: The Hut Group acquires Morrisons finance boss
- UK: Wiggle reports 23% profit boost
- Health and beauty retailing
- UK: Boots to trial use of iPads in 30 stores
- Music and video goods retailing
- UK: HMV
- …appoints business relationships managers
- …trials online marketplace
- Book and stationery retailing
- UK: Paperchase opens first airport store
- UK: WH Smith
- …CEO to step down
- …to introduce new travel store format
- Sports and leisure goods retailing
- UK: JD Sports announces new JD Pro format
- UK: JJB stores targeted by value retailers
- UK: Sports Direct
- …refuses to assist Firetrap stockists
- …reports Q2 sales boost
- Jewellers
- UK: Pandora reports boost in Q3 revenue
- Toys and games retailing
- UK: LEGO to open 10th UK store
- UK: The Entertainer announces 24.2% rise in pre-tax profit
- UK: Toys R Us UK profits halve as it opens stores
- Miscellaneous specialists
- UK: Mothercare warns international targets will be 'a challenge'
- UK: 02 to franchise a quarter of company-owned stores
- UK: Pets at Home reports profit rise
- Shopping centres
- UK: Eagle One receives planning permission for retail and outdoor lifestyle shopping centre
- UK: Westfield Stratford reports sales of £896 million in first year
- UK: Bluewater reports 6.6% rise in sales in September
- Economy
- UK: BRC
- …reports weakest sales growth in 11 months
- …October shop price inflation jumps
- …retailers argue case against business rates rise
- …lambastes business rate rise
- UK: Disposable income continues to rise
- UK: ONS
- …UK economy returns to growth
- …UK retail sales up 0.6% in September
- UK: Retailers push for extended Sunday Christmas trading
- UK: Retail employment shows record growth
- UK: Scotland records 1% rise in total sales in September
- UK: Senior representatives from the Distressed Retail Property Taskforce
- UK: 32 shops close in Britain each day
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