Table of Contents
Analyst Comment
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- Price wars
- Tesco’s £200m of cuts
- Asda’s £100m of cuts
- Morrisons and the £1bn
- What’s really happening
- Price stability
Retail Sales – Background and Outlook
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- Key points
- Retail sales trends
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- Figure 1: Retail sales trends, 2013-14
- BRC data for January
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- Figure 2: UK retail sales y/y growth, BRC vs ONS, 2012-14
- John Lewis
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- Figure 3: John Lewis: Year-on-year growth, 2013-14
- Inflation and wages
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- Figure 4: The income squeeze: Wages growth vs inflation, 2008-13
- Inflation
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- Figure 5: Annual percentage change in the consumer price index for selected product groups, 2013-14
- Looking forward
Sector Focus – DIY and Furniture Retailing
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- What we’ve seen
- DIY specialists: Benefitting from Help To Buy
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- Figure 6: DIY and hardware specialists’ sector sales: Annual % change, January 2012-January 2014
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- Figure 7: DIY and hardware specialists’ sector sales (incl. VAT), 2009-14
- Furniture specialists: losing out to non-specialists?
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- Figure 8: Furniture and lighting specialists’ sector sales: annual % change, January 2012-January 2014
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- Figure 9: Furniture and lighting specialists’ sector sales (incl. VAT), 2009-14
- Consumer spending: Lighter categories see gains in 2013
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- Figure 10: Consumer spending: Estimated annual % change, by category, 2013
- The consumer: Spending on the home jumps
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- Figure 11: Trends in activities done and consider to do – Spend money on my home (new kitchen, redecorate, new furniture etc), June 2012-January 2014
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- Figure 12: Trends in activities done in past three months – Spend money on my home (new kitchen, redecorate, new furniture etc), by average age and affluence, January 2014
- Younger consumers want to spend on their home
- What it means
Headlines for the Month
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- Co-ops
- Convenience stores
- Grocers
- Clothing retailing
- Mixed goods retailing
- Multi-sector retailing
- Department stores
- DIY retailing
- Electrical retailing
- Home shopping
- Economy
News Analysis – Food and Drink
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- Co-ops
- Co-op
- …plans convenience store expansion
- …surveys public regarding its future
- …2013 losses to be over £2bn
- …documents leaked over Co-op salary increases
- Convenience stores
- McColl’s launches initial public offering
- Spar gets boost from television campaign
- Grocers
- Aldi
- …and Lidl further store expansion plans
- …beats Waitrose for first time in supermarket poll
- Asda
- …announces additional £100m in price cuts
- …sees drop in like-for-like sales in fourth quarter
- …to introduce 130 more hybrid checkouts
- Morrisons
- …looking for sale to private equity firms
- …shares surge due to founding family buyout rumour
- …to take on Aldi and Lidl with price cuts
- Sainsbury’s
- …and Co-op follow Tesco and reduce milk prices
- …finance director expects continued discounter growth
- …launches UK’s first ‘grown by women’ coffee
- …Waitrose and discounters see market share growth
- Tesco
- …appoint George Dymond
- …customers' passwords leaked online
- …reveals profit of online grocery business
- …to introduce ‘digital wallet’
- …to make changes to middle management
- …to reset UK margins
- …finance director could be on the way out
- …Warren Buffett decreases stake in Tesco
- Waitrose
- …staff to carry tablets
- …and Nisa are next retailers to lower milk prices
- Specialist food retailers
- Thorntons first half profits increase
News Analysis – Non-food
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- Clothing retailing
- Primark sees 4% increase in like-for-like sales
- TJX Europe plans 40 new stores
- Bolongaro Trevor receives £1 million funding
- CEO of Hobbs to step down from role
- Coast to restructure as it goes for double-digit growth
- Karen Millen to open new Knightsbridge flagship store
- Mulberry appoints Louis Vuitton executive
- New Celtic Sheepskin & Co boss to take company “back to its roots”
- New Look
- …aims to expand before IPO
- …chairman Alistair McGeorge to depart
- …reports sales increase
- Topshop to give customers virtual front row experience of London Fashion Week
- Footwear retailing
- Shoe Zone announces full-year sales increase
- Mixed goods retailing
- Tiger sees 45% increase in turnover
- Poundland
- …given £750m valuation
- …confirms plans to launch an IPO
- The Works has best January sales ever
- Three retailers set to float in coming weeks
- Multi-sector retailing
- M&S could offer share buyback to reassure investors
- Department stores
- Eleven Paris creates new Kate Moss collection exclusively for Selfridges
- John Lewis
- …announces weekly sales increase
- …launches new JLAB technology incubator
- …posts strong performance in 2013
- …sees sales increase despite weather
- DIY retailing
- Wickes reports sales increase but drop in profits
- Electrical retailing
- BrightHouse reports revenue growth
- Dixons and Carphone Warehouse confirm merger talks
- Montagu puts Maplin up for sale
- Carpet retailing
- United Carpets sees like-for-like sales increase
- Furniture retailing
- Bathstore
- …to go up for sale
- …website sees dramatic improvement
- DFS to provide financial support to furniture brand Dwell
- Homewares retailing
- Dunelm interim results show 4.8% revenue growth
- Home shopping
- UK: Amazon rebrands LoveFilm service
- Ao.com
- …valued at £1.2bn on London Stock Exchange
- …asks suppliers for transparency
- …sees shares soar after stock market debut
- Asos improves online delivery options
- Blue Inc overhauls its online business
- Boohoo
- …IPO to be valued at £500 million
- …plans overseas expansion from IPO proceeds
- …former Shop Direct chief executive joins Boohoo board
- Lovehoney to launch new Frisky Business TV series
- Marks and Spencer re-launches website
- Moonpig.com owner planning IPO
- My-Wardrobe launches ‘try it, keep it, buy it’
- Ocado to launch new kitchen and barbecue range
- PoundPanda closes from heavy online traffic
- Shop Direct tests augmented reality
- UK online retail sees strongest January performance since 2009
- Online spend up 18% y-o-y in January 2014
- UK shopping by smartphone continues to increase
- Health and beauty retailing
- Superdrug to launch three new store designs
- The Body Shop appoints new retail director
- Books and stationery retailing
- Smiggle launches in the UK
- Sports and leisure goods retailing
- Sports Direct announces profit rise in third quarter
- Miscellaneous specialist retailing
- Mothercare’s CEO Simon Calver resigns
- Pets at Home
- …IPO valued between £1.05 billion and £1.3 billion
- …moves forward with float
- …appoints new directors in preparation for flotation
- …private equity owner to potentially make £200m as a result of float
- Economy
- Footfall increases as shoppers look to shopping centres to avoid the weather
- January 2014 sees strongest sales growth since March 2010
- ONS reports strong retail growth for January
- Retailer store expansion stunted in 2013
- Shop prices fall for tenth consecutive month
- Local Data Company shop vacancy rate falls in February
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