Table of Contents
Analyst Comment – House of Fraser – a new lease of life
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- Poles apart
- The top end
- What is he buying?
- Stores and closures
- What needs doing?
- Will it work?
Retail Sales
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- Key points
- Retail sales
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- Figure 1: Retail sales trends, 2017/18
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- Figure 2: UK retail sales y/y growth, BRC vs ONS, July 2016-July 2018
- John Lewis
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- Figure 3: John Lewis Department Stores: year-on-year growth, May 2017-Aug 2018
- Inflation
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- Figure 4: Annual percentage change in the consumer price index for selected product groups, 2017-18
- Inflation and wages
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- Figure 5: Real wages growth: wages growth vs inflation, Jan 2015-Jul 2018
- Confidence
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- Figure 6: Mintel Financial confidence tracker, January 2016-July 2018
- Looking forward
Sector Focus – Electricals
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- The sector – What’s included
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- Figure 7: Electrical goods market by product, 2017
- Spending on electrical goods
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- Figure 8: Spending on electrical products, annual % change, 2013-18
- Figure 9: Spending on electrical products by detailed subsector, annual % change, 2012-18
- Inflation
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- Figure 10: Inflation in electrical goods by broad category, 2017-18
- Electrical goods specialists
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- Figure 11: Y/y growth in electrical specialists’ sales, 2015-18
- Performance of the store based specialists
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- Figure 12: All electrical retailers relative to all retail sales, 2014-18
- Channels of distribution
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- Figure 13: Distribution of spending on electrical goods, 2017
- Store based retailers losing share
- Where next?
Launch Activity and Innovations
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- UK: Iceland introducing 13 vegan-friendly foods to its stores
- UK: Lidl testing first fruit and vegetable boxes
- UK: Tesco to unveil discount chain
- UK: Barbour to launch new young fashion brand
- UK: Debenhams to launch in-store gym at Sutton branch
Headlines for the Month
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- Convenience stores
- Grocers
- Other food specialists
- Clothing retailing
- Department stores
- DIY retailing
- Furniture retailing
- Home shopping
News Analysis – Food and Drink
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- Co-ops
- UK: Co-op considering sale of insurance arm
- Convenience stores
- UK: McColl’s like-for-like sales down 2.7%
- Grocers
- UK: Aldi
- Suppliers contacted regarding ‘no deal’ Brexit
- UK: Asda
- …the first supermarket to join Microfibre Consortium
- …260 jobs at risk as Asda warehouse faces closure
- UK: Iceland and The Range partner up
- UK: Lidl
- …plans to build 3,000 homes and a school
- …World Cup drives record breaking sales for Lidl
- UK: M&S expands Click & Collect service
- UK: Morrisons introduce ‘quiet hour’ for autistic shopping
- UK: Sainsbury’s to offer food-to-go range in selected WH Smith stores
- UK: Tesco
- …facing £4bn bill as equal pay claims hit 1,000
- …UK chief executive steps down due to illness
- Other food specialists
- UK: Greggs total sales up 5.2%
- UK: Hotel Chocolat revenue increases 12%
News Analysis – Clothing and Footwear
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- UK: Bonmarché report uplift in first quarter sales
- UK: Boux Avenue launches activewear range
- UK: Bravissimo full year sales up 3.4%
- UK: Burberry
- …destroys £28.6 million worth of stock
- …Q1 sales up
- UK: H&M team up with interior brand
- UK: Hugo Boss opening first standalone Hugo store
- UK: Joules Group revenues rise 18.4%
- UK: Matalan reveals strong first quarter revenue growth
- UK: New Look profits rise during its first quarter
- UK: Next second-quarter sales up 2.8%
- Footwear retailing
- UK: Pavers launch new charity initiative
News Analysis – Mixed Goods
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- UK: B&M
- …diversifies board with two female appointments
- …trading update
- UK: Poundworld
- …employees face redundancy as further 40 stores set to close
- …founder of Poundland reportedly considering a return to the high street
- …brand could be saved
- UK: The Original Factory Shop CVA gets the go-ahead
- Multi-sector retailing
- UK: M&S
- Threat of even more store closures
- …making further cuts to management roles
- …partners with True as part of digital innovation drive
- …partnership with Founders Factory aims to invest in start-ups
- …strikes deal with Octopus Energy
- UK: Mothercare raises funds with share offer
- Department stores
- UK: Debenhams
- …credit rating downgraded
- …under pressure as credit insurers reduce cover
- UK: House of Fraser
- …C. Banner rescue deal falls through
- …CVA to face legal challenge
- …rescue deal faces delay
- …landlords dispute regarding House of Fraser’s CVA proposals reaches agreement
- …bought by Sports Direct for £90m
- UK: John Lewis
- …set for biggest revamp of its stores
- …unveils its biggest fashion collection to date
- …the John Lewis Partnership selects finalists to join retail tech innovation programme
- UK: Pressure on auditing watchdog to publish report on BHS audit
News Analysis – Household Goods
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- DIY retailing
- UK: B&Q
- …changes one loyalty scheme to push for lower prices
- …kitchens and bathrooms business creates 800 jobs
- …slashing prices to lure new customers
- UK: Homebase owner plans a CVA
- UK: Travis Perkins report 4.6% decline in pre-tax profits
- Electrical retailing
- UK: Dixons Travel opens first Belfast store
- Furniture retailing
- UK: DFS profit warning
- UK: Dunelm witnesses strong online sales performance (+41.8%)
- UK: IKEA
- …vows to remove all single-use plastic straws from products and restaurants by October
- …new store to open on Tottenham Court Road
- UK: ScS report full-year trading in line with expectations
News Analysis – Online
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- UK: Amazon
- …and first UK public sector procurement deal
- …UK tax bill lowest in five years
- UK: ASOS revenue up 22%
- UK: Ocado first-half revenue up, but earnings down
- UK: Reshaping of Shop Direct board leads to departure of retail director Jon Rudoe
- UK: WhereWolf app launches first UK pop-up store
News Analysis – Other Retail
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- Health & beauty retailing
- UK: Holland & Barrett to launch vegan stores
- Book and stationery retailing
- UK: Card Factory Group sales up 3.2%
- UK: The Works enters the stock market in £100 million float
- Sports and leisure goods retailing
- UK: Evans Cycles reduces losses
- UK: Sports Direct profits drop by 72%
- Jewellers
- UK: Tiffany opening new Covent Garden Store
- Garden centres
- UK: Wyevale sells eight garden centres to Blue Diamond
- Opticians
- UK: French optician to launch in the UK
- Toys and games retailing
- UK: Games Workshop annual report shows profits nearly double
- UK: six Toys ‘R’ Us stores sold for £30.5 million
- Miscellaneous specialist retailing
- UK: Pets at Home reports 8.1% revenue growth
- Shopping centres
- UK: Boxpark to open on Brighton seafront
- UK: Coal Drops Yard confirms opening date of October 26
- UK: Hammerson sells two retail parks
- UK: ICON outlet reveals first signings for opening in 02 centre
- UK: Intu half-year performance hailed as resilient
News Analysis – Economy
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- UK: BRC
- …retail sales slowed in July
- …like-for-like retail sales up 1.1% in June 2018
- …heatwave drives food price inflation
- UK: June retail sales up by 4.4%
- UK: retail footfall down 0.9%
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