European Retail Briefings - April 2007

HIGHLIGHTS: APRIL 2007
Grocers
Multi-sector retailing
Clothing retailing
NEWS ANALYSIS
 BAKERS (RETAIL)
UK: Thorntons rebounds in Q3
 CO-OPS (RETAIL)
UK: Co-op profits across full-year
 GROCERS
Australia: Woolworths Q3 sales up, mulls Coles bid
France: Carrefour
…Q1 LFLs up 1.6%
…as it mulls property sale
Ireland: SuperValu sales hit €2bn
Japan: Tesco extends Japanese push
Netherlands: Laurus Q1 LFLs up 3.1%
Netherlands: Sligro Q1 LFLs up 6%
Russian Federation: X5
…sees Q1 sales surge
…and reveals plans to raise $1 billion
Spain: Blackstone, El Arbol mull joint Caprabo bid
UK: Cooltrader expansion on the cards
UK: Grocers talk green but abuse workers, claims ActionAid
UK: Iceland CEO rewarded for turnaround
UK: Sainsbury's
…reports full-year sales rise
…gets Asda interest
…as CVC ignores pension trustees in bid
…then raises offer
…before consortium breaks up
…and bid collapses
…as Tchenguiz calls for split
…while plastic bags ditched for a day
…and £750m investment is announced
UK: Supermarket enquiry delayed
UK: Tesco
…revealed as fastest growing mobile operator
…hits back
…holds on to Green, improves milk deal
…announces record FY profits
…and is referred to CC
US: Supervalu FY profits, sales surge ahead
US: Tesco faces more US troubles
 CLOTHING RETAILING
China: Mothercare looks to enter China
Sweden: H&M Q1 profits up 27%
Sweden: Lindex Q2 profits plummet
UK: Alexon suffers difficult year
UK: Burberry H2 sales up 19%
UK: Moss Bros FY LFLs, profit down
UK: Mothercare sees full-year sales rise
UK: Primark H1 profits up 28%
UK: 'Vanity sizing' hits Britain
UK: Warburg Pincus joins New Look race
US: Claire's FY profit up 10%
US: TJX suffers massive credit card heist
US: Topshop links with Barneys for US invasion
 DIY RETAILING
Germany: Praktiker FY sales bolstered by overseas success
India: Kingfisher prepares to move into country
UK: Kingfisher FY profits fall 11%
UK: Topps Tiles H1 sales rebound
 CARPET RETAILING
UK: Carpetright struggles in H2
 FURNITURE RETAILING
Sweden: Ikea considers move into electronics
UK: Land of Leather H1 sales up 22%
UK: ScS records like-for-likes fall
 HOME SHOPPING
Germany: Otto reveals Oli plans for UK
UK: Findel posts full-year sales surge
UK: Ideal chairman to step down
 HEALTH AND BEAUTY RETAILING
UK: The Body Shop Q3 LFLs up 6.4%
US: Walgreens Q2 profits surge 25%
 BOOK AND STATIONERY RETAILING
UK: Branson considers Borders' bid
UK: Clinton Cards posts solid H1
UK: WH Smith high street woes continue in H1
 ELECTRICAL RETAILING
France: DSG uncovers 'significant' fraud in France
UK: Jessops
…shares plunge after further profit warning
…before HSBC calls in PwC
US: Best Buy FY LFLs up 5%
US: Carphone Warehouse to expand stateside
US: Circuit City posts FY loss
 SPORTS AND LEISURE GOODS RETAILING
UK: JJB reports strong year
UK: Sports Direct poised to buy M and M
 JEWELLERS
UK: Signet posts record FY profits
 GARDEN CENTRES
UK: Dobbies H1 sales blossom
 TOYS AND GAMES RETAILING
UK: ELC plunges further into the red
 MISCELLANEOUS SPECIALIST RETAILING
UK: Halfords reports another strong year
UK: Pets at Home sees FY success
 MIXED GOODS RETAILING
UK: Argos launches Christmas savings club
UK: Woolworths
…sees woes continue
…and is referred to CC over Bertram purchase
US: Dollar General Q4 profits slump 66%
US: Family Dollar Q2 profits surge
 MULTI-SECTOR RETAILING
Australia: Coles
…gets Wesfarmers interest
…then offer
…as Tesco considers bid
France: PPR set for €5.3bn Puma takeover
Finland: Kesko
…sees Q1 sales rise
…with operating profit up 63%
…before announcing sale of wholesale unit
Germany: Karstadt returns to FY profit
India: Wal-Mart, Bharti set to sign deal
Japan: Aeon reports record results
UK: Alliance Boots
…says trading is on track
…as Pessina raises offer
…while Blackstone mulls bid
…and Celesio considers joining hunt
…as ‘900 Boots pharmacies’ plan emerges
…as the retailer gets Chinese yes; reassures over OFT
…and opens door to rival bidders
…as Celesio looks to strike deal with KKR
…before bid battle royale kicks off
…and KKR raises Boots bid to £11bn
UK: Laura Ashley FY profit doubles
UK: Next CEO ends bid speculation
 DEPARTMENT STORES
UK: HoF plans small store chain
UK: Profit rise masks Debenhams' woes
UK: Tillman looks to resurrect Allders
ECONOMIC NEWS
Australia: Retail sales rise in February
Germany: Retail sales struggle
Japan: Retail sales continue to lag
The Netherlands: Dutch retail sales up in February
UK:
Retail sales brisk in March, says CBI
Retail strength continues in March, says BRC
Retail sales remain strong in March, says ONS
MARKET ANALYSIS: CLOTHING RETAILING IN EUROPE
 CLOTHING RETAILING IN FRANCE
Figure 1: France: Consumer spending on clothing, 2001-05
Figure 2: France: Relative performance of clothing market, 2001-05(e)
Channels of distribution
Figure 3: France: Clothing market – channels of distribution, 2005
Grocers
Home shopping
Sports goods retailers
Department and variety stores
 CLOTHING RETAILING IN GERMANY
Figure 4: Germany: Consumer spending on clothing, 2001-05
Channels of distribution
Figure 5: Germany: Estimated channels of distribution for clothing, 2005
Clothing specialists
Other channels
 CLOTHING RETAILING IN ITALY
Figure 6: Italy: consumer spending on clothing, 2001-05
Figure 7: Italy: Spending on clothing as a percentage of all retail sales, 2001-05
Channels of distribution
Figure 8: Italy: Clothing market – channels of distribution, 2005
Department stores
Food retailers
Other
 CLOTHING RETAILING IN THE NETHERLANDS
Figure 9: The Netherlands: Consumer spending on clothing, 2001-05
Figure 10: The Netherlands: Relative performance of clothing market, 2001-05
Channels of distribution
Figure 11: The Netherlands: Estimated channels of distribution for clothing, 2005
 CLOTHING RETAILING IN SPAIN
Figure 12: Spain: Consumer spending on clothing, 2001-05
Figure 13: Spain: Relative performance of clothing market, 2001-05
Channels of distribution
Figure 14: Spain: Clothing market – channels of distribution, 2005
Clothing specialists
Department stores
Grocers
Home shopping
Textile specialists
Market stalls
COMPANY PROFILE: MANGO
Background
Financial performance
Figure 15: Group: Group financial performance, 2002-06
Retail sales by selected European market
Figure 16: Mango: Estimated retail sales in selected European and non-European markets, 2005
Figure 17: Mango Group: Domestic and international retail sales mix, 2002-06
Figure 18: Mango: Number of stores by selected European country, July 2004, March 2005 and August 2006
Product offer
Brands
Mango’s tailored design
E-commerce & home shopping