European Retail Briefing - August 2013

ANALYST COMMENT
Showrooming – the red herring of e-commerce
Footwear
Figure 1: The consumer: How they usually buy footwear, selected statements, May 2013
Beauty products
Figure 2: The consumer: How they buy usually beauty products, November 2012
EUROPEAN RETAIL SALES
Key points
Retail sales
Figure 3: Major European economies: Year on year retail sales value growth, 2012-13
Figure 4: Major European economies: Year on year retail sales volume growth, 2012-13
Inflation
Figure 5: Major European economies: All items CPI, 2012-13
Figure 6: Major European economies: Food price inflation, 2012-13
ASIA-PACIFIC RETAIL HANDBOOK: CHINA RESOURCES ENTERPRISE LTD (RETAIL)
China Resources Enterprise Ltd (retail)
Company background
Company performance
Figure 7: China Resources Enterprise Ltd (Retail): Financial performance, 2008-12
Figure 8: China Resources Enterprise Ltd (Retail): Distribution of supermarket revenues, by region, 2009 and 2012
Store portfolio
Figure 9: China Resources Enterprise Ltd (Retail): Outlet data, 2008-12
Figure 10: China Resources Enterprise Ltd (Retail): Outlet numbers by region, 2009 and 2012
Retail offering
E-commerce
HEADLINES FOR THE MONTH
Grocers
Clothing retailing
Multi-sector retailing
DIY retailing
Electrical retailing
Health and beauty retailing
Economy
NEWS ANALYSIS
 CO-OPS
UK: The Co-op
…loses market share
…hires new food trading director
…refreshes its own-brand food range
 GROCERS
Belgium: Delhaize Group release second quarter results
Europe: Slow pace of horse meat investigation aggravates MP's
Europe: Tengelmann Group announces full year results for 2012
France: Carrefour reports results for Q2 2013
France: Casino cleared for Monoprix acquisition
Portugal: Jerónimo Martins experiences strong second quarter growth
UK: Asda
…expects 75% of Christmas shoppers to shop through multichannel methods
…to increase round pound deals this Christmas
UK: EasyJet founder to launch new EasyFoodstore
UK: Grocers to face possible fines of up to £1 billion
UK: Iceland to increase share of non-food market
UK: Morrisons
…boss calls for online sales tax
…to invest in technology overhaul
…finalises deal with Ocado to launch online grocery
…renames Wimbledon store ‘Murriwins’
…to team up with B&Q
UK: Sainsbury’s
…appeals ASA decision on Price Promise
…launches marketing offensive after ASA rejects complaint
…attacks Tesco over unfair price promise
…to extend “by Sainsbury’s” brand
…to launch limited edition "regal" babywear line
UK: Tesco
…plans to increase click and collect across third party sellers
…set to overtake HMV as top DVD retailer
…to cull senior management team
…share sale director steps down
…to launch new TV marketing campaign
…to open an F&F flagship store
…to open new shopping and leisure destination
…to trial new family restaurant
…tops fresh food poll
…trials tyre fitting service
UK: Waitrose
…posts first half sales jump of 11%
…continues its gardening push
…to launch food collection lockers
…to launch in-store restaurant
…Aldi and The Co-operative commit to ‘Price it Right’ campaign
…to open Aylesbury store on 8 August
 OTHER FOOD SPECIALISTS
UK: Whittard’s new website focuses on heritage
UK: Thorntons posts rise in Q4 sales
 OFF-LICENCES
UK: Bargain Booze
…owner set to float on AIM
…sees its share prices rocket
 CLOTHING RETAILING
Europe: LVMH sees sales growth
Sweden: H&M reports increase in sales in June 2013
UK: Blue Inc buys old Republic stores for womenswear push
UK: Bonmarché reports profit one year after pre-pack administration
UK: Burberry
…like-for-likes rise 13%
…makes two new appointments for international growth
…rolls out click-and-collect
UK: Fat Face to launch in the US as EBITDA jumps 29%
UK: Heatwave catches out fashion chains
UK: Internaçionale acquired in prepack administration by owners
UK: Jack Wills
…makes loss
…global head of ecommerce to depart
UK: Matalan boss leaves as founder’s son takes over
UK: Next sees profits rise by £10 million following summer sale
UK: Nicole Farhi saved from administration
UK: Orlebar Brown seeks global expansion
UK: Primark posts Q3 results
UK: Retailers see increased sales in heatwave
UK: SuperGroup
…posts year-end results
…sets its sights on Turkey, South America and Singapore
UK: TM Lewin enters South Africa in Edcon franchise deal
UK: White Stuff sees return to form as profits rise
 MIXED GOODS RETAILING
UK: Poundstretcher relaunches transactional website
UK: Wilkinson announces full-year results
 MULTI-SECTOR RETAILING
Europe: Metro AG sees sales fall
Ireland: M&S to close Irish stores
UK: Argos launches online mobile phone store
UK: Laura Ashley opens first hotel
UK: Marks & Spencer sees slowdown in clothing sales decline
 DEPARTMENT STORES
UK: Debenhams recruits high profile designer Todd Lynn
UK: Fenwick acquires another former Selfridges buyer
UK: Fortnum & Mason increases its floor space for Christmas
UK: Harrods opens luxurious new wine department
UK: House of Fraser launches new evening delivery service
UK: John Lewis Partnership
…appoints new deputy chairman Mark Price
…to trial online personal shopper service
…retail director appointed chair of UK China Visa Alliance
…sees sales return to growth
UK: Selfridge’s opens first new toy shop in over a decade
 DIY RETAILING
Europe: Praktiker to declare bankruptcy
UK: B&Q owner Kingfisher records high sales during heatwave
UK: Homebase puts Irish business into administration
UK: Kingfisher sees sales rise as weather improves
UK: Robert Dyas sees profits and sales rise under Theo Paphitis
UK: Travis Perkins
…hires Costa Coffee MD
…sees profits jump 7.3% despite sales fall
 GARDEN CENTRES
UK: Dobbies
…chief executive exits the business
…appoints new boss
 ELECTRICAL RETAILING
Germany: Rewe sells 16 ProMarkt stores to Expert
UK: BrightHouse sees profits rise
UK: Carphone Warehouse posts Q1 results
UK: Dixons launches same day delivery service
UK: Maplin hires specialist to refine online offering
UK: Tesla to open store in Westfield London
 HOMEWARES RETAILING
UK: Tiger to open first store in Central London
 MUSIC AND VIDEO GOODS RETAILING
UK: HMV
…loses market share to supermarkets
…hires former Vodafone Chief executive for digital launch
…to return to original store
 CARPET RETAILING
UK: Carpetright sees sales decline
 FURNITURE RETAILING
UK: DFS relaunches website in the face of increased tablet traffic
UK: Dreams set to make 100 redundancies in restructuring programme
UK: IKEA appoints new UK and Ireland Boss
 HOME SHOPPING
UK: Amazon
…reports second quarter loss
…stops free delivery on items under £10
UK: Asos
…announces resignation of Kate Bostock
…director of human resources exits the company
UK: Boden
…appoints new global brand director
…hires its first ecommerce director to drive online sales
UK: Findel sales increase 3.9% in first quarter
UK: Littlewoods launches childrenswear advertising
UK: My-Wardrobe.com founder leaves company
UK: Styloko hires new marketing director
UK: TM Lewin to launch online in Czech Republic
 HEALTH AND BEAUTY RETAILING
Europe: The Body Shop like-for-like sales up by 0.5% in first half
Europe: Dayli closes 355 stores in Austria
 BOOK AND STATIONERY RETAILING
UK: WH Smith to step up sales of electronic cigarettes
 SPORTS AND LEISURE GOODS RETAILING
UK: Mountain Warehouse reports full-year results
UK: Nike to open first full-price store in Broughton Shopping Park
UK: Reebok to return to retail
UK: Sports Direct
…facing legal action for zero hours contracts
…founder to invest in luxury online business
…pays out to full time employees
…reports 'record year'
…to merge its Republic and USC brands
 JEWELLERS
UK: Signet UK chief executive exits
 OPTICIANS
UK: Optical Express founder David Moulsdale saves the company from collapse
 TOYS AND GAMES RETAILING
UK: ModelZone
…collapse leaves debts of £11 million
…sees Deloitte start shutting its stores
…to lose another 10 stores
…wholesale business Amerang taken out of administration by Ripmax
 MISCELLANEOUS SPECIALIST RETAILING
UK: Halfords post Q1 results
UK: Mothercare
…considers the sale of loss making Early Learning Centre
…Q1 like-for-likes down
 SHOPPING CENTRES
UK: Gatwick Airport sees new shops open as part of £21 million revamp
 ECONOMY AND PROPERTY
UK: Argos and other retailers sign up to MasterCard’s new e-wallet
UK: Asda, Next, B&Q and Arcadia to sue Visa over credit card fees
UK: BRC:
…retail searches on tablets climbs by 132%
…retailers see best July sales in seven years
UK: Consumer confidence at highest level since 2010
UK: European Commission implements landmark cap on processing fees
UK: Hammerson boss David Atkins calls for review of rates system
UK: ONS: Retail sales up 2.2% in June 2013
UK: Retailers see increased sales in heatwave
UK: Rising jobs in retail sector indicate recovery
UK: Sharing data helps retailers reduce loss prevention