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European Retail Briefing - September 2013

ANALYST COMMENT
 REFURBISHING THE STORE ESTATE
Carrefour
New stores are not enough
Keeping track of the customer base
Leclerc
Customers becoming more demanding
EUROPEAN RETAIL SALES
Key points
Retail sales
Figure 1: Major European economies: Year on year retail sales value growth, 2012-13
Figure 2: Major European economies: Year-on-year retail sales volume growth, 2012-13
Inflation
Figure 3: Major European economies: All items CPI, 2012-13
Figure 4: Major European economies: Food price inflation, 2012-13
LUXURY GOODS RETAILING
 PRADA GROUP
What we think
Prada brand soars in 2012 – but the group sees a slowing trend
Asian growth proves volatile
Increasingly focused on Prada brand and leather goods
The Prada brand is popular among mid-market shoppers
Intellectual property strategy
A recent convert to e-commerce
Company background
Company performance
Figure 5: Prada: Group financial performance, 2008/09-2012/13
Figure 6: Prada: Group net revenue breakdown, by channel, 2009/10-2012/13
Figure 7: Prada: Group net revenue breakdown, by region, 2009/10-2012/13
Customer profile
Figure 8: UK: Brand profile, by gender, age, and socio-economic group, May 2013
e-commerce and social media
HEADLINES FOR THE MONTH
Grocers
Clothing retailing
Department stores
DIY retailing
Electrical retailing
Home shopping
Health and beauty retailing
NEWS ANALYSIS
 CO-OPS
UK: Co-op
…sees fall in first half profits
…to launch online grocery website
 CONVENIENCE STORES
UK: Waitrose adds 10 convenience stores to London portfolio
 GROCERS
Austria: Lidl Austria appoints new managing director
Belgium: Delhaize Group hires new CEO
Europe: Ahold
…appoints new chief human resources officer
…profits top estimates
France: Auchan first-half sales rise
France: Carrefour releases first half results
France: Leclerc
…abandons Coopernic
…begins selling optical products
Germany: Edeka South - West appoints new managing director
Russian Federation: Dixy sees July sales rise 21%
Russian Federation: Magnit sees growth in Europe
UK: Asda
…drops Saatchi & Saatchi
…funds a retail degree for staff
…hires VCCP for its advertising
…offers online delivery pass to challenge rivals
…records slow sales growth
…store vision to rival Tesco Watford
UK: Morrisons
…and Argos sign up to personal marketing service
…unveils Nutmeg TV ad
UK: Sainsbury’s outpaces big four rivals
UK: Tesco
…and Next hit back at claims made about their labour sources
…criticised by ASA over advert
…ditches store as it listens to locals
…to introduce till cash monitoring system
UK: Waitrose
…buys The Good Food Guide
…proposes using GPS tracking for click-and-collect
…to help young offenders
 OTHER FOOD SPECIALISTS
UK: Harris + Hoole takes former Jessops sites
UK: Countrywide eyes AIM listing as profits rise
 OFF-LICENCES
UK: Conviviality Retail acquires Wine Rack
 CLOTHING RETAILING
Europe: Stradivarius launches online store
France: Esprit posts first annual loss
France: Hermes sees rise in first-half profit
Lithuania: H&M opens first store in Lithuania
UK: Abercrombie & Fitch sales fall
UK: Government demands use of plus size mannequins
UK: Hanro signs for first UK store
UK: Jane Norman to close Oxford Street store
UK: Matalan to launch new sports fascia
UK: McQueen sales high after royal dress success
UK: New Look sees profits surge as like-for-like sales edge up
UK: Peacocks to sell kids clothing in garden centres
UK: Primark
…owner raises profit expectations
…to end online trial
UK: River Island returns to Singapore
UK: Six retailers to open stores in Canary Wharf’s Jubilee palace
UK: SuperGroup's positive sales reflect “enduring appeal”
UK: Taking Shape to enter UK market
UK: TK Maxx to open new store in Covent Garden
UK: Topshop to expand U.S. presence
UK: Uniqlo launches children’s clothing range
UK: Victoria’s Secret set to open Bluewater store
 FOOTWEAR RETAILING
UK: LK Bennett owners consider sale
 MIXED GOODS RETAILERS
UK: B&M rewards buyers’ faith
 MULTI-SECTOR RETAILING
UK: Home Retail sees departure of Terry Duddy
UK: Marks & Spencer
…hires store environment chief
…hit by glitches at distribution centre
…increases its efforts to solve IT glitches
…loses customer insight boss
…trials new accessories department
…launches new ‘leading ladies’ campaign
 DEPARTMENT STORES
Netherlands: Bijenkorf
…shuts five stores leaving Primark to benefit
…to restructure estate
Spain: El Corte Inglés
…offers Click & Car service
…sees profits drop 18%
UK: Debenhams
…adds two new designers to roster
…ups marketing activity with use of augmented reality
UK: House of Fraser trials virtual queue system
UK: John Lewis
…insurance business part of new advertising campaign
…to pay out £40 million to underpaid staff
…labels electricity costs
…sales up by 6.6%
…to launch upmarket in-store restaurant
UK: John Lewis
…views an opening in Westfield London
 DIY RETAILING
Germany: Praktiker to be broken up
UK: B&Q makes 180 redundancies
UK: Homebase launches first co-buying initiative
UK: Kingfisher hires Marks & Spencer’s Plan A director to lead Net Positive Plan
 ELECTRICAL RETAILING
Ireland: Carphone Warehouse and Harvey Norman in partnership
UK: BrightHouse launches new payment model
UK: Comet
…to be re-launched under new name
…Clive Coombes backtracks on Comet re-launch
…former owner recoups £54 million
…new Comet brand investigated by Deloitte
UK: Dixons to sell off French and Turkish business arms
 FURNITURE RETAILING
UK: Dreams hires new chief executive
UK: Dwell’s creditors to receive no payout
UK: Furniture retailers investigated by OFT
UK: Jysk takes three former Dreams stores
UK: The Range to open 5 new stores by 2016
 HOMEWARES RETAILING
UK: Brissi hires big names to its board
UK: Cath Kidston sees rise in full year profits of 13%
 HOME SHOPPING
Germany: Asos investor Bestseller takes stake in rival company
UK: Amazon increases mobile app presence
UK: Asos
…hires new sourcing director
…signs contract for management of distribution centre
UK: Boohoo.com eyes float
UK: Damartex aquires Coopers of Stortford
UK: DRL steps up flotation plans
UK: Figleaves.com to launch erotic boutique
UK: Game eyes growth in online video game market
UK: Girl Meets Dress receives venture capital funding
UK: Richard Desmond moves into contract publishing with Very magazine
UK: Tesco to launch iPad-style tablet
 HEALTH AND BEAUTY RETAILING
Europe: Celesio sees profits surge by over 50%
UK: Boots boss Alex Gourlay to move to Walgreens
 BOOK AND STATIONERY RETAILING
UK: Card Factory to refinance following attempted sale
UK: Staples launches back to school advertising campaign
UK: WHSmith full-year profits “in line with expectations"
 MUSIC RETAILING
UK: HMV
…creditors to lose £250 million
…hires new director for its Pure loyalty programme
 SPORTS AND LEISURE GOODS RETAILING
UK: JD Sports looking to expand its Pro performance fascia
UK: Sports Direct to enter FTSE 100
 JEWELLERS
UK: Pandora to open largest global store in Oxford Street
 TOYS AND GAMES RETAILING
UK: ModelZone to leave the high street
 MISCELLANEOUS SPECIALIST RETAILING
UK: Go Outdoors sees rise in sales
 ECONOMY
UK: BRC releases retail sales figures
UK: Retailers could face business rates increases of £300 million
UK: Scottish sporting successes boost retail sales in July
UK: Shop prices fall 0.5% due to discounting in stores
UK: UK retail sales jump 1.1% in July

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