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UK Retail Briefing - July 2013

ANALYST COMMENT
 C-STORES
High footfall vs low footfall
Neighbourhood stores
One Stop
Time to build
An integrated future
RETAIL SALES – BACKGROUND AND OUTLOOK
Key points
Retail sales trends
Figure 1: Retail sales trends, 2012-13
BRC data for June
Figure 2: UK retail sales y/y growth, BRC vs ONS, 2011-13
John Lewis
Figure 3: John Lewis: Year-on-year growth, 2012-13
Inflation and wages
Figure 4: RPI vs Average Weekly Earnings growth, 2008-12
Inflation
Figure 5: Annual percentage change in the consumer price index for selected product groups, 2012-13
Looking forward
SECTOR FOCUS – CLOTHING AND FOOTWEAR
What we think
Consumer Tracker: Clothing demand holds up
Figure 6: The consumer: Trends in activities done and consider to do – shopping for clothing and footwear, June 2012-June 2013
Figure 7: The consumer: Trends in what extra money is spent on, Jun 12-Jun 13
Figure 8: Trends in what extra money is spent on, three-month averages, 2011-13
Spending and retail sales
Specialists sales
Figure 9: Retail sales: Year-on-year growth, January 2012-May 2013
Figure 10: Retail sales (incl. VAT), 2008-12
Consumer spending
Figure 11: Consumer spending: Year-on-year growth in selected categories, Q2 2012-Q1 2013
Figure 12: Consumer spending (incl. VAT), 2008-12
Inflation
Figure 13: Consumer prices inflation: annual % change, June 2012-May 2013
The specialist retailers
Clothing
Figure 14: Leading clothing specialists’ revenues, 2011-12
Footwear
Figure 15: Leading footwear specialists’ revenues, 2011-12
HEADLINES FOR THE MONTH
Convenience stores
Grocers
Off-licences
Other food specialists
Clothing retailing
Footwear retailing
Multi-sector retailing
Department stores
DIY retailing
Electrical retailing
Carpet retailing
Furniture retailing
Homewares retailing
Home shopping
Health and beauty retailing
Book and stationery retailing
Sports and leisure goods retailing
Economy
NEWS ANALYSIS
 CO-OPS
Co-op Bank
…to plug £1.5 billion capital hole
…launches new 'Tweet for a table' campaign
 CONVENIENCE STORES
Nisa to supply half of Martin McColl c-stores
Sainsbury's opens £30m distribution centre to support convenience store expansion
Tesco’s One Stop buys 33 Alfred Jones stores
Waitrose opens in Victoria
 GROCERS
Aldi continues to grow market share
Asda
…announces further expansion of multichannel offering
…Asda Income tracker: Families worse off in May 2013
…takes on Aldi in price war
…trials 360 degree laser checkout
Morrisons
…renames Wimbledon store ‘Murriwins’
…chief architect for online grocery to stand back
Sainsbury’s
…grows market share
…reports 0.8% sales growth in Q1
…to relaunch Tu clothing brand
…unveils Mobile by Sainsbury’s
Tesco
…creates new group digital officer role
…hires agriculture director from NFU after horsemeat scandal
…sublets space to gym operator
…to open £5 million Eco Metro Store in London
Lidl store partners with Subway
Whole Foods to focus on small store strategy
 OFF-LICENCES
Majestic Wine posts rise in profits despite sales dip
 OTHER FOOD SPECIALISTS
Holland & Barrett posts 30% rise in profits
Pret a Manger owner eyes stake in Hotel Chocolat
SSP appoints Kate Swann as new boss
Thorntons
…expects improved full-year profit
…to trial in store kiosks
 CLOTHING RETAILING
Ark to enter administration
Bestseller reviews UK retail business
Bonmarché reports profit one year after pre-pack administration
Bosideng appoints new London-based head of design
Burberry like-for-likes rise 13%
Coast managing director to step down from role
Coast, Oasis and Warehouse include iPad technology in stores
Gumball 3000 seeks London Flagship store
Hobbs
…to launch first accessories-only concession
…profits up 1.3%
Hunter appoints former Burberry designer
Internacionale files intention to appoint administrators
Jaeger appoints new CEO
Jane Norman to reposition itself
Jigsaw poaches John Lewis’ Peter Ruis
Matalan full-year profits up 10%
Miss Selfridge to launch in US
Moss Bros announces new commercial and operations director
Mulberry
…creative director exits
…posts 2012 full-year results
New Look announces changes to senior management
Nicole Farhi goes into administration
Phase Eight
…posts year end results
…to open at Whiteley
…unveils expansion plans
Radley restructures senior management team
River Island opens its largest store in Marble Arch
SuperGroup
…appoints new international director
…to move into the denim market
Ted Baker
…founder sells £20.4m worth of shares
…reports 33% sales increase
TM Lewin
…could be sold
…hires KPMG to oversee sale
 FOOTWEAR RETAILING
Christian Louboutin opens men's boutique in Selfridges
Schuh posts rise in pre-tax profits for 2012
Shoon bid for Jane Shilton falls through
 SHOPPING CENTRES
Westfield launches My Westfield app
Jubilee Place in Canary Wharf expands with nine new retailers
 MIXED GOODS RETAILING
Poundland
…to open 11 shops in 11 days
…announces funding deal with Barclays
The Original Factory Shop
…hires Tony Page as chief executive
…sees EBITDA rise by 30%
 MULTI-SECTOR RETAILING
Argos
…appoints EMI executive as new digital director
…appoints Tesco.com executive to head customer fulfilment
…reports 2% like-for-like increase in Q1
Laura Ashley
…reports 0.6% slip in like-for-likes
M&S
…sees decline in clothing sales slow
…post first quarter results
…reveals plans for new distribution centre
…to create 1,400 work placements for young people
 DEPARTMENT STORES
Beales reports operating loss due to exceptional costs
Debenhams posts Q3 results
Fenwick announces new appointments to senior management team
Fortnum & Mason opens pop-up shop in Hyde Park
House of Fraser posts Q1 results
John Lewis
…to open at Heathrow’s Terminal 2
…to double the number of Kuoni concessions
 DIY RETAILING
B&Q trials tool upcycling scheme in Bristol
Screwfix to expand store portfolio in 2013
Topps Tiles sees like-for-likes decline in Q3
 ELECTRICAL RETAILING
Currys and PC World sell software downloads
Carphone Warehouse Group's
…like-for-like sales up 4.6%
…announces collaboration with Kate Moss
…to sell flagship store to G-Star Raw
Darty's revenues decline
Dixons
…partners with Visa for digital wallet scheme
…posts full year results
 MUSIC AND VIDEO GOODS RETAILING
HMV
…headquarters to relocate to Blackfriars
…loses market share to supermarkets
…to return to original Oxford Street store
 CARPET RETAILING
Carpetright reports rise in pre-tax profits
 FURNITURE RETAILING
Barker & Stonehouse launch in London
Bathstore to launch smaller store format
CSL launches Lowest Price Guarantee
Conran Shop managing director exits the business
DFS
…reports profits up 8.5%
…trials new compact store format
Dwell
…bought out of administration
…set to fall into administration
…to call in administrators
OKA profits and sales up
 HOMEWARES RETAILING
Cath Kidston to launch new services
Dunelm like-for-likes up 1.7% for the year
 HOME SHOPPING
Achica appoints chief operating officer
Asos
…posts third quarter results
…to extend Primark range to 140 pieces
…to introduce 15-minute delivery windows
Boohoo considers sale of minority stake
Direct Wines hires new commercial director
eBay to launch full-priced fashion site
Iceland to launch online offering
N Brown’s like-for-like sales up 7.8%
Ocado reports pre-tax loss in H1 2013
Park Group raises £4.4m to fund next-phase growth
The Hut Group reports profit for 2012
Waitrose relationship with Ocado set to change
Wiggle profits and sales up
 HEALTH AND BEAUTY RETAILING
Superdrug posts £1.4m operating loss
The Fragrance Shop posts record year-end results
 BOOK AND STATIONERY RETAILING
Card Factory put up for sale
WH Smith
…pilots franchise model
…sales decline in its third quarter
…to launch in Russia’s railway stations
 SPORTS AND LEISURE GOODS RETAILING
JD Sports
…appoints former Reiss director as Bank managing director
…buys Ark out of administration
…posts 7% rise in like-for-likes
Nike to open more UK stores
Sports Direct
…buys HMV Oxford street store
…closes 20 Republic stores
…in talks with Tesco over space sharing
…looks to acquire Farhi
 JEWELLERS
Signet UK chief executive exits
 TOYS AND GAMES RETAILING
Disney store reports growth in sales
Game opens Xbox store
ModelZone
…poised to enter administration
…cuts 20 head office jobs
 MISCELLANEOUS SPECIALIST RETAILING
Halfords
…post Q1 results
…runs bike trade-in event for communities in Africa
Kiddicare overhauls in-store experience
Mothercare former boss pockets £5m in shares and pay
 ECONOMY
BRC:
…footfall down 0.7% in May
…like-for-like sales increase in June 2013
CBI: Retail sales expected to pick up in July following flat year
ONS: retail sales up in May 2013

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