Table of Contents
Analyst Comment
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- Tesco and Booker to merge
- Why?
- Increased buying power
- What it could mean for the convenience sector
- Does it make sense?
Retail Sales
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- Key points
- Retail sales
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- Figure 1: Retail sales trends, 2016/17
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- Figure 2: UK retail sales y/y growth, BRC vs ONS, Nov 2015-Dec 2016
- John Lewis
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- Figure 3: John Lewis: year-on-year growth, Jan 2015-Feb 2017
- Inflation and wages
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- Figure 4: Real wages growth: Wages growth vs inflation, 2012-17
- Inflation
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- Figure 5: Annual percentage change in the consumer price index for selected product groups, 2016-17
- Looking forward
Sector Focus – Clothing
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- Clothing specialists underperform the retail sector
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- Figure 6: Annual % change in clothing retail sales, non-seasonally adjusted, by month, Jan 2015-Dec 2016
- Consumer spending on clothes is on the rise
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- Figure 7: Consumer spending on clothing, at current prices, non-seasonally adjusted, Q1 2014-Q3 2016
- Christmas trading update
- Unexpected change in fortunes for M&S and Next
- Specialists benefit from taking a full price stance
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- Figure 8: Performance of clothing retailers in the UK over the Christmas period, 2016-17
- Online-only retailers outperform
- Other non-specialists perform well too
- Market set to become more challenging in 2017
- British sourcing could be an option to explore
Headlines for the Month
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- Grocers
- Clothing retailers
- Department stores
- Multi-sector retailing
- DIY retailing
- Home shopping
- Health and beauty retailing
- Economy
News Analysis – Food and Drink
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- Convenience stores
- UK: Spar warns of slowdown in the convenience sector
- Grocers
- UK: Aldi steps up to fifth in the UK grocery market
- UK: Iceland reports strong Christmas trading period
- UK: Lidl boasts “most successful” Christmas ever
- UK: Morrisons
- …like-for-likes rise 2.9%
- …partners with food sharing app
- UK: Sainsbury’s and Argos like-for-likes up 1.0%
- UK: Sir Ken Morrison passes away
- UK: Supermarkets criticised for wasteful food deals online
- UK: Supermarkets partake in project encouraging people to eat less meat
- UK: Tesco
- …Christmas results lifted by fresh food sales
- …introduces PayQwiq payment to entire estate
- …launches one-hour delivery in London
- …to purchase Booker Group for £3.7bn
- UK: The Co-op's Richard Pennycook to stand down
- UK: Waitrose reportedly closing up to six stores
- Other food and drink specialists
- UK: Conviviality Retail returns to profit in the second half
- UK: Greggs ends the year ahead of expectations
- UK: Hotel Chocolat shoppers trade up to higher-priced gifts
- UK: Majestic Wine sales up but profits dip
News Analysis – Non-food
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- Clothing retailing
- UK: Abercrombie & Fitch creates new store format
- UK: Agent Provocateur receives high level of bidder interest
- UK: Ann Summers reports surging sales over Christmas
- UK: Bhs investigation could last until 2019
- UK: Bonmarché sales rise 3.3%
- UK: Burberry's UK retail sales surge 40%
- UK: Fat Face delivers 7.9% growth in full-price sales
- UK: H&M
- …expands Weekday fascia
- …profits fall amid increased markdown
- …sales slow over Christmas
- UK: Hobbs sales rise 3.9%
- UK: Hugo Boss Q4 revenues decline 3%
- UK: Jack Wills reports modest like-for-like growth
- UK: Jaeger seeks investors amid strategic turnaround
- UK: Jimmy Choo boosted by strong growth in Asia
- UK: Joules
- …delivers strong Christmas trading results
- …performs well over the first half
- UK: Matalan full-price sales rise 29.1%, but total sales fall
- UK: Moss Bros like-for-likes rise 6.1%
- UK: Mothercare UK sales return to growth
- UK: New Look
- …hires new digital director
- …sales and profits drop in Q3
- UK: Pep&Co to raise retail prices
- UK: Primark sales up driven by increased selling space
- UK: Radley delivers rise 9% over Christmas
- UK: Reiss turnaround leads to 19.7% sales rise
- UK: Snapchat extends retailers' advertising limit
- UK: Stradivarius to launch menswear this week
- UK: SuperGroup report strong trading result in H1
- UK: Ted Baker's retail sales surge 17.9%
- UK: Topshop sales fall by around 11% over Christmas
- UK: Under Armour looking to purchase French Connection store
- Footwear retailing
- UK: Office profits hit by sale to Truworths
- UK: Shoe Zone profits rise 1.1%
- Multi-sector retailing
- UK: GHM discount stores will become Poundland shops
- UK: John Lewis sales rise 4.9% during Christmas trading period
- UK: Marks and Spencer clothing sales return to growth
- UK: Poundland to cease trading online
- Department stores
- UK: Debenhams
- …Christmas performance boosted by beauty and gifting
- …to stock modest fashion brand
- UK: Fortnum & Mason December results boosted by online
- UK: House of Fraser
- …reports strong online performance
- …to anchor £300m Chester project
- UK: John Lewis sales rise 4.9% during Christmas trading period
- DIY retailing
- UK: Bunnings
- …ends zero-hour contracts
- …first UK store opens its doors
- UK: Screwfix opens 500th store
- UK: Topps Tiles reports soft results
- Electrical retailing
- France: Fnac gains approval to open on Sundays
- Germany: Media-Markt launches technology rental service
- UK: BrightHouse to close 28 stores following tough trading
- UK: Dixons Carphone reports 8% growth
- UK: GAME suffers a decline amid lack of new launches
- Carpet retailing
- UK: Carpetright returns to quarterly UK growth
- Furniture retailing
- UK: DFS on track with 7% sales growth
- UK: Dreams prepares for £400m sale
- UK: Habitat trials new standalone format in Leeds
- UK: Ikea
- …acquires stake in recycling plant
- …plans most sustainable store in Greenwich
- UK: ScS like-for-like orders rise 2.7%
- Homewares retailing
- UK: Dunelm
- …like-for-like store sales fall 3.1%
- …Q2 sales rise 6.6%
- UK: Wyevale Gardens launches new website
- Home shopping
- UK: Amazon Go reportedly looking for London store space
- UK: AO sales grow in Q3 but warn on future uncertainty
- UK: Asos sales surge 36%
- UK: Boohoo
- …gains approval for Nasty Gal acquisition
- …revenues surge 55%
- UK: Findel strengthens in the second half
- UK: N Brown revenues rise 4.1%
- UK: Ocado
- …retail sales rise 13.6%
- …sells salad from underground London farm
- UK: Overseas online interest in British brands on the rise
- UK: Shop Direct
- …owners reportedly mulling sale or flotation
- …9% sales growth driven by Very
- UK: Sofa.com sales jump 28% following showroom openings
- UK: Visits to UK retail websites reach 4.6 billion in December
- UK: Yoox Net-a-Porter IL sales advance 2.3%
- Health and beauty retailing
- UK: L'Oreal considering selling The Body Shop
- UK: Superdrug sales boosted by make-up trends
- Luxury goods retailing
- UK: Louis Vuitton global revenues rise by 5%
- UK: MatchesFashion boosted my mobile app sales
- UK: New West End Company reports strong Chinese New Year sales
- Book and stationery retailing
- UK: Card Factory ends the year up 0.4% like-for-like
- UK: Waterstones generates first pre-tax profit for seven years
- UK: WH Smith travel revenues offset declines in high street
- Sports and leisure goods retailing
- UK: JD reports a strong Christmas period
- Jewellers
- UK: Pandora
- …revenues rise 21% in 2016
- …rolls out digital receipts
- UK: Signet
- …UK division falls into a like-for-like decline
- …restructures to focus on omnichannel
- Toys and games retailing
- UK: Hornby's turnaround plan progresses
- UK: The Entertainer
- …develops new franchise partner
- ….Christmas sales climb 13.5%
- UK: Toy prices set to rise around 15%
- Automotive retailing
- UK: Halfords retail sales accelerate in Q3
- Pet retailing
- UK: Pets at Home merchandise sales softer than anticipated
- Shopping locations
- UK: Centre:mk announces £60m investment
- UK: High street footfall rises for first time in five years
- UK: Intu reports increase in festive footfall
- UK: Outlet village operator reports 6.7% sales rise
- Economy
- UK: Retail sales growth slows to 0.1% in January
- UK: Retail sales rise by 7.1% in December
- UK: Retail sales up 1.0% in December
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