European Retail Briefing - September 2009

ANALYST’S COMMENT
 NEW LAW CAPS GROCERS’ EXPANSION IN RUSSIA
New law limits growth
Early reactions negative
Not all bad news
For now – uncertainty
HEADLINES FOR THE MONTH
Food retailers
Clothing retailers
Multi-sector
Department stores
DIY
Electricals
Furniture retailing
Health and beauty
Miscellaneous
RETAIL SALES REVIEW
 FRANCE
Figure 1: France: Retail sales trends, 2008-09
Inflation
Figure 2: France: Inflation, 2008-09
 GERMANY
Figure 3: Germany: Retail sales trends, 2008-09
Inflation
Figure 4: Germany: Inflation, 2008-09
 ITALY
Figure 5: Italy: Retail sales trends, 2008-09
Inflation
Figure 6: Italy: Inflation, 2008-09
 NETHERLANDS
Figure 7: The Netherlands: Retail sales trends, 2008-09
Inflation
Figure 8: The Netherlands: Inflation, 2008-09
 SPAIN
Figure 9: Spain: Retail sales trends, 2008-09
Inflation
Figure 10: Spain: Inflation, 2008-09
 UK
Figure 11: Retail sales trends, 2008-09
Inflation
Figure 12: UK: Annual percentage change in Retail Price Index for selected product groups, 2008-09
EUROPEAN RETAIL: BACKGROUND
Figure 13: Europe: Population, by country, 2008
Figure 14: Europe: GDP, by country and per capita, 2008
Figure 15: Europe: Consumer expenditure, by country and per capita, 2008
Figure 16: Europe: Retail sales, by country and per capita, 2008
RETAILING IN THE NETHERLANDS
 THE DUTCH RETAIL SCENE
 THE NETHERLANDS IN FIGURES
Population
Figure 17: The Netherlands: Population trends, 2005-09
Figure 18: The Netherlands: Population, by age group, 2008 and 2009
Figure 19: The Netherlands: Households, January 2008
Economy
Figure 20: The Netherlands: Gross domestic product, 1999-2009
Figure 21: The Netherlands: Consumer prices, 2003-08
Figure 22: The Netherlands: Consumer expenditure, 1999-2008
 DUTCH RETAILING IN FIGURES
Figure 23: The Netherlands: Retail sales, 2004-09
Figure 24: The Netherlands: Breakdown of retail sales, by type of retailer, 2004-08
Figure 25: The Netherlands: Retail enterprises, 2003-07
Figure 26: The Netherlands: Outlet numbers, 2004-08
Figure 27: The Netherlands: Retail employment, 2004-08
Figure 28: The Netherlands: Retail employment, by type of retailer, 2006-08
NEWS ANALYSIS
 BAKERS (RETAIL)
UK: Greggs enjoys profit increase
UK: Thorntons’ FY profits down 4.5%
 CO-OPS (RETAIL)
UK: Co-op launches legal service ad campaign
 GROCERS
Estonia: Comarket rebrands as ABC Supermarkets
France: Auchan
… signs €800 million financing deal
… sees H1 profit dip 17.8%
France: Carrefour
… posts H1 loss
… Carrefour enters Iran
… in Russian expansion drive
France: Casino H1 profit up 0.8%
Germany: Aldi appoints new UK boss
Germany: Tengelmann reports FY results
Lithuania: Maxima sales fall 9.2%
Netherlands: Ahold profits plummet 42%
Norway: Reitan posts sales increase
Russian Federation: Lenta founder sells 35% stake to TPG and VTB
Russian Federation: Magnit enjoys H1 profit boost
Russian Federation: Seventh Continent H1 profit halves
Russian Federation: X5 Q2 profit up 87%
Slovenia: Mercator H1 profit halves
Sweden: ICA and Apoteket plan link-up
Turkey: BIM posts solid H1 results
UK: Asda
… posts strong Q2 sales
… branches into life insurance market with LV
UK: Sainsbury's
… opens largest Northern Irish store
… announces Scottish expansion plans
… to triple games marketing budget
UK: Tesco
… sets up weather team
… seals partnership with Fortis
UK: Morrisons H1 profits soar 45%
 OFF-LICENCES
UK: Majestic Wine halves minimum bottle purchase
 OTHER FOOD SPECIALISTS
UK: Holland & Barrett receives approval for Julian Graves takeover
 CLOTHING RETAILING
Denmark: IC Companys sees FY sales dip 4%
Germany: Escada to file for insolvency
Spain: Inditex receives approval for Indian joint venture
Sweden: H&M suffers LFLs dip
UK: Adams appoints new chief
UK: Ann Summers hires new marketing manager
UK: Ben Sherman Losses widen
UK: High & Mighty sold to N Brown
UK: Jaeger completes Aquascutum purchase
UK: Alexon to relaunch Ann Harvey
UK: Matalan to create 1,800 jobs
UK: Mackays sees profit fall
UK: Primark expects FY LFLs up 7%
 FOOTWEAR RETAILING
UK: Bolliger to retire from Clarks chief executive role
 MIXED GOODS RETAILING
UK: Wilkinson posts record FY sales
 MULTI-SECTOR RETAILING
Finland: Kesko eyes Russian market
Germany: Arcandor
… abandons hope of anchor investor
… divisions could remain operational
UK: HMV posts results, buys 7Digital stake
UK: Home Retail posts better-than-expected Q2 results
UK: Laura Ashley H1 sales up 6%
UK: M&S starts search for new chief
 DEPARTMENT STORES
UK: Debenhams demands improved terms from suppliers
UK: Fenwick posts solid FY results
UK: Harrods sees FY sales rise 9%
UK: House of Fraser sees profits soar 16% in H1
 DIY RETAILING
UK: Kingfisher rushed to reveal H1 profits after data leak
UK: Focus saved from administration
Robert Dyas names new chairman, concludes debt deal
 ELECTRICAL RETAILING
Poland: DSG denies Electro World sale
Russian Federation: M.Video H1 profit slumps 15%
UK: DSGi sales down 6%
UK: Kesa group saled dip despite rise at Comet
 CARPET RETAILING
UK: Allied Carpets announces redundancies
 FURNITURE RETAILING
Sweden: Ikea to resume Russian expansion
 HOME SHOPPING
UK: Findel fundraising receives strong backing
UK: Littlewoods launches in Europe
UK: Moonpig doubles profits
 HEALTH AND BEAUTY RETAILING
Germany: Celesio profit edges up in Q2
Germany: Douglas Holding records Q3 loss
Poland: Torfarm H1 profit up
Switzerland: Galenica buys OM Pharma
UK: Lloyds Pharmacy to provide high street healthcare
 SPORTS AND LEISURE GOODS RETAILING
UK: Sports Direct ups profit forecast as sales jump
 JEWELLERS
UK: Signet
… suffers Q2 LFLs drop
… Q2 profit jumps thanks to cost cuts
UK: Theo Fennell swings to £3.3 million FY loss
 TOYS AND GAMES RETAILING
UK: Hamleys FY losses mount
 ECONOMIC NEWS
Europe: Euro retail sales down in July
Ireland: Irish retail sales revive in June
UK: Retail sales “continue to rise”, says BRC
UK: ONS: 24% of retailers did not pass on VAT cut
UK: London retail sales up in July, says BRC
UK: CBI: Retail sales dip in August
UK: BRC reports dip in August retail LFLs