Table of Contents
Analyst Comment
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- Tough times ahead
- Consumers under pressure
- DSG
- The Internet
- Confidence still strong
The Month in UK Retailing
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- Co-ops (retail)
- Co-op in £80m pharmacy acquisition
- Grocers
- Grocers fined for dairy price fixing
- Somerfield unveils expansion plans
- Supermarkets judged in animal welfare league
- Tesco
- …boss unveils global sales target
- …as it considers Czech Plus business
- …then posts strong Q3 figures
- …as it launches IT support service
- Off-licences
- Threshers and Oddbins
- …merger rumours emerge
- …before they deny reports
- Clothing retailing
- Alexon issues profit warning
- Arcadia criticised for not joining ethical trade group
- Matalan FY profits up 8.5%
- Moss Bros
- …issues profit warning
- …as Baugur considers bid
- …while Laura Ashley builds stake
- Peacocks plans international expansion
- TK Maxx to launch homewares chain
- Footwear retailing
- JJB acquires Original Shoe Company
- Mixed goods retailing
- Woolworths under pressure to renegotiate debt
- Multi-sector retailing
- Alliance Boots posts £504 million H1 profit
- HMV
- …sees losses narrow
- …and continues rolling out Fopp stores
- Laura Ashley reports 10.8% fall in LFLs
- M&S not ruling out return to continental Europe
- Department stores
- Debenhams
- …renegotiates debt
- …as MRG takes 7% stake
- …as Landmark-owner considers joint bid
- DIY retailing
- Kingfisher
- …sees weaker UK demand hurt profits
- …and offloads B&Q Taiwan joint venture
- Topps Tiles reports drop in FY profit
- Travis Perkins updates trading
- Carpet retailing
- Carpetright sales affected by UK slowdown
- Furniture retailing
- MFI to spend £125m on overhaul
- ScS issues profit warning
- Home shopping
- Asos H1 profit soars
- Findel posts strong H1 profit
- Health and beauty retailing
- Co-op in £80m pharmacy acquisition
- Sports and leisure goods retailing
- JD Group improves LFLs, warns on tougher trading
- JJB
- …LFLs up 1.6%
- …as it acquires Original Shoe Company
- Sports Direct
- …sees Ashley plan to increase stake
- …as Sports Direct posts weak H1
- Jewellers
- Signet warns on FY profit
- Theo Fennel boss seeks international expansion
- Toys and games retailing
- Game
- …provisionally cleared for Gamestation takeover
- …as strong performance continues
Executive Appointments
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- Baugur targets Shepherdson
- Bhs chairman to step down
- Blacklock to leave Waterstone’s
- Cheesewright leaves Asda for Wal-Mart Canada
- Hobbs appoints new creative director
- Hudson quits M&S
- Morrisons appoints new executives
- New CEO for The Body Shop
- New Look chairman retires
- Primark on the hunt for new buying director
- Spindler appointed to Debenhams’ board
- Theo Fennell appoints new chief executive
- TK Maxx appoints new MD
- Waitrose appoints new spirit buyer
Product Development – Fruit and Vegetables
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- Asda
- Iceland
- Marks & Spencer
- Morrisons
- Sainsbury’s
- Somerfield
- Tesco
- Waitrose
Advertising News
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- New Campaigns
- HMV launches biggest-ever Christmas campaign
- Sainsbury’s directs customers to festive site
- Account gains/losses
- Miles Calcraft Briginshaw Duffy retains Waitrose advertising account
- BLM gets D&A brief
Retail Advertising Review
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- Advertising expenditure
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- Figure 1: Total advertising expenditure by all advertisers (£m), Oct 2003-Oct 2007
- Figure 2: Total advertising expenditure by all retail advertisers (£m), Oct 2003-Oct 2007
- Use of media
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- Figure 3: Use of media by retail and all advertisers (%), Oct 2003-Oct 2007
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- Figure 4: Use of media by retail and all advertisers (£m), Oct 2003-Oct 2007
- Top 25 retail advertisers
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- Figure 5: Top 25 retailers by adspend (£), Sep 2007-Oct 2007
- Food
- Furniture
- DIY
- Variety Retailers
- Optical
- Other
- Nielsen Media Research/definitions
Retail Sales and Inflation
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- Retail sales
- Office for National Statistics
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- Figure 6: Retail sales trends: Nov 2006-Nov 2007
- Figure 7: Non seasonally adjusted % value change on previous year, Nov 2006-Nov 2007
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- Figure 8: Seasonally adjusted % volume change on previous year, Nov 2006-Nov 2007
- Significant features of the latest ONS statistics
- Confederation of British Industry
- British Retail Consortium
- Retail price inflation trends
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- Figure 9: Annual percentage change in retail price index for selected product groups: Nov 2006-Nov 2007
- Figure 10: Annual percentage change in retail price index for selected product groups: Nov 2006-Nov 2007
- Retail Prices Index
- Consumer Prices Index
- British Retail Consortium: Shop Price Index
Sector Analysis – Electricals
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- Sales trends
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- Figure 11: Electrical specialist retailers, sales trends, 1998-2007 Q3
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- Figure 12: Electrical retailers as % of all retail sales: 1997-2007
- Retail price inflation
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- Figure 13: Indices of retail prices for product categories, 2000-07 (Jan 1987=100)
- Consumer expenditure
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- Figure 14: Consumer expenditure on selected product categories (£m), 1998-2007 Q2
- Electrical retailers: latest trends
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- Figure 15: Outlet numbers operated, by leading electrical retailers, 2003-06
Sector News Review: Electrical Retailing
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- July
- DSGi
- ...mulls franchises in UK
- …as Dixons expands offer
- August
- DSGi
- …moves into Turkey
- …and joins Setanta-sellers
- September
- Kesa sees profits fall in H1
- DSG reports sales growth in first quarter
- October
- Carphone Warehouse increases connections in Q2
- DSG increases LFLs in H1, Italy still problematic
- November
- Carphone Warehouse reports strong profits in H1
- Kesa sales growth slows in Q3
- December
- Kesa on the verge of BUT sale
- DSGi
- …reports first-half results
- …as new DSG boss will boost online presence
Sector Advertising Review – Electricals
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- Advertising expenditure
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- Figure 16: Total advertising expenditure by electrical retailers, Oct 2003-Oct 2007
- Use of media
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- Figure 17: Use of media by electrical retailers and all retailers (%), Oct 2006 and Oct 2007
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- Figure 18: Use of media by electrical retailers and all retailers (£m), Oct 2006 and Oct 2007
- Top ten electrical retail advertisers
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- Figure 19: Top ten electrical retailers by adspend, Oct 2006 and Oct 2007
- Retailer focus
- Comet
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- Figure 20: Comet, media use by adspend and as share of total, Oct 2006-Oct 2007
- Figure 21: Comet, top brands by adspend, Oct 2007
- PC World
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- Figure 22: PC World, media use by adspend and as share of total, Oct 2006-Oct 2007
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- Figure 23: PC World, top brands by adspend, Oct 2007
- Currys
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- Figure 24: Currys, media use by adspend and as share of total, Oct 2006-Oct 2007
- Figure 25: Currys, top brands by adspend, Oct 2007
- Empire Direct
- Although Sony’s retail arm was the fourth-highest advertising electrical retailer in October 2007, an accurate breakdown of the company’s media use and top brands by adspend are not available. As a result, here we will examine the fifth-highest advertiser, Empire Direct.
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- Figure 26: Empire Direct, media use by adspend and as share of total, Oct 2006-Oct 2007
- Figure 27: Empire direct, top brands by adspend, Oct 2007
- Nielsen Media Research/definitions
Report Focus: Convenience Retailing
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- Convenience store retailing
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- Figure 28: Convenience store sales as a percentage of all food store sales, 2002-07
- Independents flee to join symbols
- Huge investments and growing expertise
- Who is using convenience stores?
- Tesco Express, Spar and Co-op dominate the sector
- Four main shopper types
- Mixed views on multiples in the sector
- Retail sales through convenience stores
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- Figure 29: Retail sales through convenience stores, at current and constant prices, 2002-12
- Smaller households and busy lifestyles will continue to spur on growth
- Convenience stores retail sales to account for a fifth of all food retailing sales by 2008
- Consumers: who, where and why
- Trends in convenience store use
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- Figure 30: Frequency of purchase from convenience stores, 1999-2007
- Frequency of purchase
- Six in ten adults use regularly
- Potential to drive up visit frequency
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- Figure 31: Frequency of purchase from convenience stores, August 2007
- Frequent users (42%)
- Weekly users (20%)
- The less frequent and non-users
- Convenience stores bought from
- Tesco Express tops the charts
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- Figure 32: Convenience stores used in the last 12 months, August 2007
- Tesco Express shoppers
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- Figure 33: Convenience stores used in the last 12 months, by gender, age and socio-economic group, August 2007
- Sainsbury’s Local
- Co-op Welcome
- M&S Simply Food
- C-store shopping by main grocery store used
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- Figure 34: Convenience stores used in the last 12 months, by store used for main grocery shopping, August 2007
- Profiles of leading convenience store retailers
- Spar UK Ltd
- Background
- Strategic evaluation
- Financial performance
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- Figure 35: Spar UK, turnover, 2003-07
- Store portfolio
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- Figure 36: Spar UK, store numbers, 2003-07
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- Figure 37: Spar stores, by region, 2007
- Retail offering
- Operational issues
- Advertising and marketing
- e-commerce and home shopping
- Musgrave
- Background
- Strategic evaluation
- Financial performance
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- Figure 38: Musgrave Plc, financial performance, 2002-06
- Store portfolio
- Budgens
- Londis
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- Figure 39: Musgrave, retail outlet data, 2002-06
- Retail offering
- Budgens
- Londis
- Operational issues
- Advertising and marketing
- e-commerce and home shopping
- Costcutter
- Background
- Strategic evaluation
- Financial performance
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- Figure 40: Costcutter, store turnover and store numbers, 2002-06
- Store portfolio
- Retail offering
- Operational issues
- Advertising and marketing
- e-commerce and home shopping
- Industry Insights
- Challenges of fresh products
- Lagging behind in fair trade and organic
- Competition triggering more investment
- Creating the right package
- How the independents fare
- The Future
- A trend towards local shopping
- Greater focus on local services
- Lifestage factors
- Consolidation in the sector will continue
- Symbol groups are poised for further growth
- Franchising likely to grow
- All the basics must be right
- Differentiate to progress
- Brand building
- Price and margin management
- Forecourt sector will continue to forge ahead
- Outlook
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