Table of Contents
Analyst Comment
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- Slowdown, not recession
- More heat than light
- Non-comparable periods
- Different results
- Why so different?
- Where now?
The Month in UK Retailing
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- Bakers (retail)
- Greggs blames weather for slowing rise in LFLs
- Thorntons posts Q3 sales rise
- Co-ops (retail)
- OFT accuses retailers of tobacco price-fixing
- Co-op:
- …FY profits grow
- …clashes with Soil Association
- Grocers
- Grocers accused of further price-fixing by OFT
- Competition Commission findings
- Asda drops opposition to proposed code of conduct
- Morrisons:
- …receives apology from OFT over dairy fixing
- …announces plans to cut plastic bag use
- Sainsbury’s:
- …to launch Tu home brand
- …CEO to collect £6.5m bonus
- …reports FY results
- Tesco:
- …to sell property website
- …launches website for Polish immigrants
- … to be thwarted by Hunter over Dobbies plans?
- …buys South Korean Homever stores for £958m
- …objects to Ocado’s price claims grow
- Waitrose to open 100 convenience stores
- Off-licences
- Thresher to close 30 Scottish stores
- Clothing retailing
- Austin Reed plans expansion, following sales rise
- Burberry sees sales growth
- Ethel Austin:
- …collapses into administration
- …receives 40 potential bids
- Fat Face signs for eight new stores
- Internacionale:
- …goes into administration
- …sold to unnamed buyer
- Jaeger’s FY sales rise 16%
- MK One
- …put up for sale by Baugur
- …sold to Hilco
- Matalan sets aside £20m for revamp
- Mosaic reports FY loss, on sales up 49%
- Baugur may sell Moss Bros stake
- Next reports drop in Q1 sales
- ABF H1 profit boosted by Primark
- Footwear retailing
- Private equity firms bid for LK Bennett
- Mixed goods retailing
- Home Retail Group FY sales/profits rise, warns of outlook
- Instore cuts FY loss
- Multi-sector retailing
- Boots’ Pessina to accelerate growth
- HMV reports 7.3% rise in FY LFLs
- M&S:
- …faces dispute over Rose investment
- …chief sells sing-a-long stake
- …to cut staff bonuses
- …FY profits reach £1bn
- Electrical retailing
- DSGi:
- … could close 200 outlets, cuts dividend
- …to close stores in strategic move
- Furniture retailing
- Land of Leather:
- …reports Q3 LFLs plunge
- …fined by FSA
- ScS issues new profit warning
- Home shopping
- Asos forecasts profit boost, after sales soar
- Findel issues profit warning
- N Brown delivers strong FY results
- Book and stationery retailing
- Clinton Cards Q3 LFLs up
- Endless goes shopping for The Works
- WH Smith posts full-year profit rise
- Sports and leisure goods retailing
- OFT scolds Sports Direct over purported store closures
- JJB:
- …posts 5.3% drop in Q1 LFLs
- …to axe 800 following profit plunge
- Jewellers
- Signet posts 2.5% decline in like-for-like Q1 sales
- Toys and games retailing
- Game Group reports FY sales up
- Miscellaneous specialist retailing
- Pets at Home reveals FY success
Executive Appointments
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- Austin Reed appoints first menswear designer
- Brantano hires new MD
- Brantano chief exits
- Robert Dyas appoints ex-MFI director as new CEO
- Hamleys chief exits after posting 15.5% LFLs jump
- Instore hires new finance director
- Kingfisher’s finance director announces resignation
- Liberty finance director departs
- Galvin quits MK One
- Morrisons appoints new non-food executive
- New Look in management shuffle
- Pier’s managing director steps down
- SRG looks for new chief
- SRG appoints new MD
- Wallis appoints three new execs
- Whistles poaches Topshop directors
Product Development – Beverages
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- Asda
- Marks & Spencer
- Sainsbury’s
- Somerfield
- Tesco
Advertising News
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- New campaigns
- Asda outsources search and display campaign
- Iceland signs Katona
- Morrisons to adopt environmental marketing strategy
- Waitrose to launch new ad campaign
- Account gains/losses
- Holland & Barrett appoint WCRS
Retail Advertising Review
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- Advertising expenditure
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- Figure 1: Total advertising expenditure by all advertisers (£m), Feb 2004-Feb 2008
- Figure 2: Total advertising expenditure by all retail advertisers (£m), Feb 2004-Feb 2007
- Use of media
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- Figure 3: Use of media by retail and all advertisers (£m), Feb 2007-Feb 2008
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- Figure 4: Use of media by retail and all advertisers (%), Feb 2007-Feb 2008
- Top 25 retail advertisers
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- Figure 5: Top 25 retailers by adspend (£), Jan 2008-Feb 2008
- Food
- Furniture
- Optical Retailers
- DIY
- 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: Mar 2007-Mar 2008
- Figure 7: Non seasonally adjusted % value change on previous year, Mar 2007-Mar 2008
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- Figure 8: Seasonally adjusted % volume change on previous year, Mar 2007-Mar 2008
- Significant features of February’s 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: Mar 2007-Mar 2008
- Figure 10: Annual percentage change in retail price index for selected product groups: Mar 2007-Mar 2008
- Retail Prices Index
- Consumer Prices Index
- British Retail Consortium: Shop Price Index
Sector Analysis – Non-Food Specialists
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- Sales trends
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- Figure 11: Non-food specialist retailers, sales trends, 1998-2008 Q1
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- Figure 12: Non-food specialist retailers as % of all retail sales: 1999-2008 (e)
- Retail price inflation
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- Figure 13: Indices of retail prices for product categories, 2000-08 (Jan 1987=100)
- Breakdown of sales by sub-sector
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- Figure 14: Non-food specialists: Breakdown of sales by sub-sector, 2000-07
- Consumer expenditure
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- Figure 15: Consumer expenditure on selected product categories (£m), 1998-2007
- Chemists: latest trends
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- Figure 16: Health and beauty retailers’ sales, 2003/04-2006/07
- Books, newspapers & stationery: latest trends
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- Figure 17: Booksellers’ and stationers’ operating profits, 2003/04-2007/08
- Floor coverings: latest trends
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- Figure 18: Floor coverings retailers’ operating profits, 2003/04-2006/07
- Photographic & optical goods, office supplies stores: latest trends
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- Figure 19: Photographic retailers’ Sales, 2003/04-2006/07
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- Figure 20: Number of outlets in leading opticians chains, UK, 2003, 2005 and 2007
- Other
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- Figure 21: Sports and outdoor leisure retailers’ sales, 2003/04-2006/07
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- Figure 22: Toys and games retailers’ operating profits, 2003/04-2006/07
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- Figure 23: Jewellers’ operating profits, 2003/04-2006/07
Sector News Review: Non-Food retailing
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- December
- 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
- January
- Book and stationery retailing
- Clinton Cards LFLs up 2.5% over Christmas
- Sports and leisure goods retailing
- Blacks Leisure reports promising Christmas sales
- JD records excellent Christmas performance
- JJB
- …agrees to settle over football shirts
- …and issues profit warning
- Which? names JD/JJB worst UK retailers
- Sports Direct expects “difficult” market
- Jewellers
- Signet suffers over Christmas
- Theo Fennell’s December sales up 2%
- Toys and games retailing
- Game’s Christmas sales soar
- Games Workshop reports H1 loss
- February
- Book and stationery retailing
- Borders chief plans review
- The Works crashes into administration
- WH Smith LFLs down 2%
- Sports and leisure goods retailing
- JJB
- …to support Nike’s takeover of Umbro
- …and sells Soccer Domes
- Sports Direct invests £20m in Chinese venture
- Jewellers
- Signet reports FY sales slide
- Toys and Games Retailing
- Hamleys LFLs up 11.3% during Christmas
- Miscellaneous specialist retailing
- Halfords chief to join Coles, LFLs up 2%
- March
- Sports and leisure goods retailing
- Blacks hit by accounting probe, suspends director
- Sports Direct “in-line” to meet expectations
- Toys and games retailing
- Game increases FY profit forecast
- April
- Book and stationery retailing
- Clinton Cards posts strong H1 figures
- The Works on brink of sale
- WH Smith buys hospital shops
- Sports and leisure goods retailing
- JD Group reports strong FY results
- Toys and games retailing
- Toyzone:
- … enters administration
- … rescued from administration
- Jewellers
- Signet FY profit down 17%
- Miscellaneous specialist retailing
- Halfords reports strong FY LFLs
- Garden centres
- Dobbies posts mixed results
- May
- Book and stationery retailing
- Clinton Cards Q3 LFLs up
- Endless goes shopping for The Works
- WH Smith posts full-year profit rise
- Sports and leisure goods retailing
- OFT scolds Sports Direct over purported store closures
- JJB:
- …posts 5.3% drop in Q1 LFLs
- …to axe 800 following profit plunge
- Jewellers
- Signet posts 2.5% decline in like-for-like Q1 sales
- Toys and games retailing
- Game Group reports FY sales up
- Hamleys chief exits after posting 15.5% LFLs jump
- Miscellaneous specialist retailing
- Pets at Home reveals full-year success
Sector Advertising Review – Non-Food Specialists
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- Advertising expenditure
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- Figure 24: Total advertising expenditure by non-food retailers, Feb 2004-Feb 2008
- Use of media
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- Figure 25: Use of media by non-food retailer and all retailers (%), Feb 2007-Feb 2008
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- Figure 26: Use of media by non-food retailers and all retailers (£), Feb 2007-Feb 2008
- Books and stationery retailers
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- Figure 27: Top ten books & stationery retailers by adspend, Feb 2007 & Feb 2008
- Company analysis – Staples
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- Figure 28: Staples, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 29: Staples, top brands by adspend, Feb 2008
- Sports and leisure goods retailers
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- Figure 30: Top ten sports & leisure goods retailers by adspend, Feb 2007 & Feb 2008
- Company analysis – JD Sports
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- Figure 31: JD Sports, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 32: JJB, top brands by adspend, Feb 2008
- Jewellers
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- Figure 33: Top ten jewellers by adspend, Feb 2007 & Feb 2008
- Company analysis – Tiffany & Co
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- Figure 34: Tiffany & Co, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 35: Tiffany & Co, top brands by adspend, February 2008
- Garden centres
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- Figure 36: Top ten garden centres by adspend, Feb 2007 & Feb 2008
- Company analysis – Wyevale
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- Figure 37: Wyevale Garden Centres, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 38: Wydevale Garden Centres, top brands by adspend, Feb 2008
- Chemists (health & beauty retailers)
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- Figure 39: Top ten chemists by adspend, Feb 2007 & Feb 2008
- Company analysis – Superdrug
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- Figure 40: Superdrug, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 41: Superdrug, top brands by adspend, Feb 2008
- Toys and games retailers
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- Figure 42: Top five toys and games retailers by adspend, Feb 2007 & Feb 2008
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- Figure 43: Top video games retailers by adspend, Feb 2007 & Feb 2008
- Company analysis – Toys R Us
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- Figure 44: Toys R Us, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 45: Toys R Us, top brands by adspend, Feb 2008
- Optical retailers
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- Figure 46: Top Ten optical goods retailers by adspend, Feb 2007 & Feb 2008
- Company analysis – Specsavers
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- Figure 47: Specsavers, media use by adspend and as share of total, Feb 2007 & Feb 2008
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- Figure 48: Specsavers, top brands by adspend, Feb 2008
- Miscellaneous retailers
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- Figure 49: Top two miscellaneous retailers by adspend, Feb 2007 & Feb 2008
- Company analysis – Halfords
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- Figure 50: Halfords, media use by adspend and as share of total, Feb 2007 & Feb 2008
- Figure 51: Halfords, top brands by adspend, Feb 2008
Report Focus: Footwear Retailing
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- Market growth, at what price?
- Footwear feeling the pinch
- Not all bad
- Footwear going walkabout
- Fashion drivers
- Let’s hear it for the boys
- Don’t forget comfort
- Too cheap?
- Clarks stands out
- New channels
- The future
- Consumers: how much, where and why
- Cheap shoe myth?
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- Figure 52: How much they spend on a pair of shoes, February 2008
- It’s not all about the money
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- Figure 53: How much they spend per pair of shoes, by gender, age and socio-economic groups, February 2008
- Spending by leading retailers
- Where and by whom
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- Figure 54: Where they buy footwear, February 2008
- Stores with focus have a clearer target
- Mixed purchasing pattern
- Male fashion stores
- Holding onto existing customers
- Young are open to new ideas
- Value footwear exposed
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- Figure 55: Where they buy footwear, by gender, age and socio-economic groups, February 2008
- Why?
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- Figure 56: What they think of shoe shopping, February 2008
- A world of treats and indulgence
- Sales appeal to all
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- Figure 57: What they think of shoe shopping, by gender, age and socio-economic groups, February 2008
- Attitudes to shoe shopping by leading retailers
- Sales – a time for investment and indulgence
- Profile of leading retailers
- C&J Clark (UK)
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- Figure 58: C&J Clark Group: Group financial performance, 2002-07
- Russell & Bromley
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- Figure 59: Russell & Bromley, group financial performance, 2002-06
- Schuh
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- Figure 60: Schuh, group financial performance, 2003-07
- Industry Insight
- Running to keep up
- Some like it cheap
- Online on target
- The future
- Spending struggling to grow
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- Figure 61: UK: Spending on footwear, 2002-07
- Bigger share for non-specialists
- Changes need to be made
- The transition from manufacturing to retailing
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- Figure 62: Footwear specialists sales, UK, 2002-07
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- Figure 63: Footwear specialist sales and spending on footwear, 2008-13, at current and constant 2008 prices, excl VAT, 2003-13
- Looking ahead
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