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European Retail Briefings - July 2005

HIGHLIGHTS: JULY 2005
Grocers
Clothing
Multi-sector
DIY
Department stores
NEWS ANALYSIS
 CONVENIENCE RETAILING
Japan: FamilyMart to open in US
 GROCERS
Australia: Coles Myer launches own brands
France: Auchan
…heads to Russia
…and opens first non-food discount fascia
France: Carrefour
…boosts discount standing in France
…while expansion boosts share
…but sales disappoint
France: G&G sees sales increase
Netherlands: Ahold
…sells US convenience stores
….and Deli XL sale completes disposal programme
Netherlands: Laurus formats continue to suffer
Spain: Carrefour Spain
…announces expansion plans
…and launches telecoms service
UK: Asda
…offers cut-price electricals
…and launches George cosmetics range
…before wielding the axe…
…and recruiting shop floor staff in refocusing drive
UK: Sainsbury’s
…opens door to Asda staff
…and posts growth
…as its turnaround gathers pace
UK: Somerfield
…left with two suitors as Co-op quits
…but Baugur boss charged with fraud
…and Baugur too drops out
…and offloads its stake
…leaving Somerfield flat
UK: Tesco
…posts impressive results
…and moves into contact lenses
US: Winn-Dixie
…loses-Dixie
…and sells 102 stores
 CLOTHING RETAILING
Japan: Growth strategy slows Fast’s progress
Japan: Muji in overseas expansion
Spain: Zara hits Home in Italy
Spain: Cortefiel
…makes strong start
…as more enter bidding fight
…only to be snubbed
Sweden: H&M
…still in vogue
…and setting the pace
UK: Burberry makes sprightly start
UK: Sales dive at French Connection
UK: Hugo Boss plans London flagship
UK: Jacques Vert turns loss into profit
UK: Sole bidder for Jane Norman announced
UK: Matalan continues to slide
UK: Mulberry posts impressive results
UK: Peacock
…lauds fashion focus
…and rearranges kidswear
UK: River Island lifts retail gloom
 FOOTWEAR RETAILING
UK: Kurt Geiger in equity buy-out
 MULTI-SECTOR RETAILING
France: Ecobichon in at Conforama
Japan: Daiei continues bad run into Q1
Japan: Seven-Eleven boosts Ito-Yokado
Japan: Aeon sees quarterly revenue rise
Germany: KarstadtQuelle
…reiterates Q3 disposal target
…slashes earnings forecast
…and overhauls mail order arm
Germany: Real chairman steps down
Germany: Metro to enter Pakistan
Germany: Positive start for Rewe
Japan: Seiyu chief says sayonara
Switzerland: Flagship turnover boosts Jelmoli
UK: GUS boosted by new stores
UK: Boots
…boosted by healthcare
…as it looks to concessions
UK: HMV sales push forward
UK: John Lewis in Oxford Street revamp
UK: Laura Ashley closes flagship store
UK: Littlewoods sold to ABF
UK: M&S slide continues
US: Wal-Mart to expand in Europe
 MASS MERCHANDISERS
US: Target launches digital music service
 MIXED GOODS
US: Family Dollar announces Q3
 DEPARTMENT STORES
France: Lafayette poised to sell online supermarket brand
Sweden: Axfood and Ahlen sell off property assets
UK: Beales results remain static
UK: House of Fraser
…in talks to buy James Beattie
…and agrees on acquisition
…but Debenhams considers late bid
 DIY RETAILING
Germany: Hornbach enjoys “historic” year
Japan: DIY chains agree merger
UK: Sales fall at Wickes
 ELECTRICAL RETAILING
UK: Kesa reports H1 hike
UK: Dixons reports disappointing H2
 CARPET RETAILING
UK: Carpetright in defiant mood
 FURNITURE RETAILING
France: Ecobichon in at Conforama
Sweden: Ikea
…looks to enter grocery market
…and Russia
…while new German head appointed
UK: Land of Leather poised for flotation
UK: MFI begins ascent from the depths?
 HOME SHOPPING
UK: Sales rocket at high-flying Asos
UK: Kleeneze rebrands and builds healthy platform
US: Avon hit by China slide
 MUSIC AND VIDEO GOODS RETAILING
France: Fnac sees turnover rise
 HEALTH AND BEAUTY RETAILING
Netherlands: AS Watson buys Portegies
UK: Savers gets new MD
UK: Superdrug moves into jewellery
UK: Molton Brown sold to Kao
UK: Body Shop continues to tone financials
US: Walgreen
…prescribes confident Q3
…but workers poised for strikes
 BOOK AND STATIONERY RETAILING
UK: Harmful environment hits Clinton Cards
UK: Ottakar’s writes subdued first chapter
 SPORTS AND LEISURE GOODS RETAILING
UK: Blacks falters as sales dip
UK: JJB chairman steps down as sales slide
UK: John David Group sees half time sales slip
 GARDEN CENTRES
UK: Dobbies sows seeds for year
UK: Wyevale upbeat as chief steps down
 OPTICIANS
Denmark: Specsavers acquires Danish chain
 TOYS AND GAMES RETAILING
UK: Game hit by tough environment
US: Toys R Us CEO and COO to leave
 MISCELLANEOUS SPECIALIST RETAILING
UK: Halfords still riding high
US: PETsMART board approves share buy back scheme
ECONOMIC NEWS
Australia: Retail outperforms in May
Czech Republic: Retail sales moving upward
Germany: Retail sales fight back in May
Hong Kong: Retail sales grow swiftly in May
Ireland: Retail sales push steadily up
Spain: Retail environment edges forward
UK: Retail sales rebound, reveals ONS
UK: Retail outlook brighter in June, says BRC
UK: June sees sharp sales decline, says CBI
US: Retail sales unexpectedly surge
COMPANY FOCUS: BENETTON IN THE CLOTHING MARKET
 MARKET CONTEXT
Figure 1: European clothing market: Estimated market sizes and spend per capita, 2004
Distribution is wide on a Europe wide level
Figure 2: European clothing market: Channels of distribution by country, 2003/04
Figure 3: European clothing sector: Clothing specialists’ sales by country, 2004
 HARD TIMES AHEAD FOR CLOTHING
Figure 4: European clothing sector: Clothing specialists’ sales forecasts by country, 2004-09
Competition to intensify
New EU states offer scope for retailers
As do the undeveloped markets
Figure 5: European clothing sector: Forecast sector sales growth, by country, 2004-09
COMPANY PROFILE: BENETTON
What is it? The bare facts
 FINANCIAL DATA
Figure 6: Benetton: Share of European clothing specialists’ sales, 2000-04
Figure 7: Benetton: Financial data, 2000-04
Figure 8: Benetton: Group sales by geographical area, 2000-04
Figure 9: Benetton: Group sales by commercial activity, 2002-04
 OUTLETS
Figure 10: Benetton: Global outlet data, 2000-04
Figure 11: Benetton: European store coverage, 2004
Figure 12: Benetton: European outlet data by major European countries, May 2005
 PRODUCTS
Menswear
Womenswear
Sisley

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