European Retail Briefings - December 2005

NEWS ANALYSIS
 GROCERS
Europe: Aldi expands into eastern European market
France: Carrefour
…confirms job cuts
…issues bond for maturing 2006 debt
…overhauls own-brand
France: Leclerc moves into opticals
Germany: Aldi launches mobile price plan
Germany: Wal-Mart to buy Norma?
Netherlands: Ahold
…settles US class-action lawsuit
…but sees slow third-quarter sales
Poland: Carrefour to boost Champion in Poland
Portugal: J Martins unveils expansion plans
UK: Asda reveals mini store plans
UK: Sainsbury’s speeds up pharmacy programme
UK: Whittard bought out by Baugur
Julian Graves posts excellent year
UK: Tesco retains strength in Q3
UK: Safeway leaves the retailing stage
 OFF-LICENCES
UK: Unwins teeters on the brink
 CLOTHING RETAILING
Europe: Actif issues profit warning
Spain: Inditex continues to shine
Sweden: Stella collection boosts H&M
UK: Bhs store refurb plans announced
UK: Woes continue for French Connection
UK: Mango sees UK turnaround
UK: Mulberry maintains good form
UK: Primark
…battles to replenish stock
…and looks to hit Oxford Street
UK: Ted Baker extends Eastern presence
 MIXED GOODS RETAILING
Ireland: Dunnes posts good full-year profit
 MULTI-SECTOR RETAILING
Finland: Kesko offloads Finnish outlets
France: PPR
…loses CFO Ross McInnes
…and appoints replacement
Germany: Karstadt to clear debt in 2006
Germany: Metro offloads Praktiker locations
Netherlands: Vendex loses “Royal” prefix
Slovenia: New boss at Mercator
Sweden: IKEA to publish loyalty magazine
UK: John Lewis own-brand to take off
UK: Marks & Spencer
…signs up to celebrity
…and turns on the style
…adding restaurant offer
…and winning tax ruling
 DEPARTMENT STORES
UK: Allders revives furniture brands
UK: F&M down on full-year
UK: Beauty sales boost Harrods
UK: Selfridges solid in 2005
 DIY RETAILING
Germany: Metro offloads Praktiker locations
UK: Kingfisher continues to struggle in Q3
UK: Focus invests to cut costs
UK: Topps back on song
 ELECTRICAL RETAILING
UK: DSG faces up to harsh UK retail scene
UK: Kesa shows fighting spirit in Q3
 CARPET RETAILING
UK: Carpetright profit confirms poor first half
 FURNITURE RETAILING
UK: Tiles R Us in administration
UK: Tough times at MFI
UK: Land of Leather delivers in H1
UK: ScS finds FY figures comfortable viewing
 HOME SHOPPING
UK: Asos
…sees sales rocket
…but is hit by Hemel explosion
UK: Pressure mounts at Findel
UK: Kleeneze weighs down ERH
 SPORTS AND LEISURE GOODS RETAILING
Ireland: Lifestyle Sports bought for €60m
 HEALTH AND BEAUTY RETAILING
UK: Superdrug to deliver the goods
 BOOK AND STATIONERY RETAILING
UK: Borders rebrands Books Etc stores
UK: Ottakar’s
…takeover bid referred
…amid profit fears
 JEWELLERS
UK: Baugur acquires MW Group
 TOYS AND GAMES RETAILING
UK: Retailers see PSP shortages
UK: Game hit by mature technology
UK: Suitors circle Gamestation
 MISCELLANEOUS SPECIALIST RETAILING
UK: Halfords
…profit confirms good half
…while supplier terms tightened
ECONOMIC NEWS
Australia: Retail sales push forward
China: High street sales climb in November
Germany: Retail sales assent stops temporarily in October
Japan: Consumer confidence fails to boost retail in October
UK: Sales slump in November, says CBI
…but BRC reports a climb during the month
…and the ONS offers hope to the high street
US: Retail sales edge upward
MARKET ANALYSIS: ELECTRICAL RETAILING IN EUROPE
UK buys the most
Figure 1: Europe: European electricals market share by country, 2003
Figure 2: Europe: European consumer spending on electricals, 2003
…but Norway leads per Capita
Figure 3: Europe: Per capita consumer spending on electricals by market, 2003
Specialists prosper in the UK
Figure 4: Europe: Electrical specialists’ sales, 2003
Figure 5: Europe: Electricals specialists’ share of all electricals spending, 2003
Media-Saturn and Dixons fight it out for number one
Dixons comes second
Figure 6: Europe: Leading electricals retailers, 2003
European Share
Figure 7: Europe: Top 25 electricals retailers’ share of electrical retail sales, 2003
Outlook
Forecasts
Figure 8: European retail sales forecasts, 2005-08
Dixons dominant in UK, Kesa fails to gain
Figure 9: UK: Leading retailers, 2002/03
Figure 10: UK: Leading retailers’ market shares, 2002/03
COMPANY PROFILE: KESA ELECTRICALS
What is it? The bare facts
Trading Names
Sales grow, but profit is fairly flat
Figure 11: Kesa Electricals: Financial data, 1999/2000-2003/04
Figure 12: Kesa: Electricals sales, by country, 2001/02-2003/04
Most recent performance
Darty
Figure 13: Darty: Financial and outlet data, 1999/2000-2003/04
Recent performance
Comet
Figure 14: Comet: Financial and outlet data, 1999/2000-2003/04
Recent performance
BUT
Figure 15: BUT: Financial and outlet data, 1999/2000-2003/04
Recent performance
Other businesses
Figure 16: New Vanden Borre, BCC and Datart: Financial and outlet data, 1999/2000-2003/04
Most recent performance
Products
Figure 17: Kesa Electricals: Product mix, 2002/03