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European Retail Briefing - March 2021

ANALYST COMMENT – THE COVID-19 PANDEMIC PRESENTS NEW PROSPECTS IN ONLINE GROCERY
Figure 1: Albert Heijn’s temporary home delivery service, May 2020
Delivery boxes: a new opportunity
Figure 2: Carrefour online family kits, Spain
Figure 3: Morrisons food boxes, UK
Figure 4: Waitrose food box, UK
Figure 5: Asda cupboard filler food box, UK
Figure 6: M&S essentials food box, UK
Online shopping could help cash-strapped shoppers control spending
Figure 7: Carritus, Spain
Grocery delivery services speed up
High delivery charges pose a threat to online grocery
Profitability concerns dampen optimism
EUROPEAN RETAIL SALES
Key points
Retail sales
Figure 8: Major European economies: Year-on-year retail sales value growth, 2019-21
Figure 9: Major European economies: Year-on-year retail sales volume growth, 2019-21
Inflation
Figure 10: Major European economies: All items CPI, 2019-21
Figure 11: Major European economies: Food price inflation, 2019-21
LAUNCH ACTIVITY AND INNOVATIONS
France: Cora unveils new unified ecommerce platform
Italy: Esselunga launches laEsse format in Rome
France: Monoprix tests virtual reality technology in store
HEADLINES FOR THE MONTH
Grocers
Clothing retailing
Multi-sector retailing
Department stores
Online
Health and beauty retailing
Sports and leisure goods retailing
NEWS ANALYSIS – FOOD AND DRINK
 CONVENIENCE STORES
UK: Costcutter trial new loyalty app
UK: Morrisons and McColl’s extend partnership for another three years
 GROCERS
Belgium: Lidl to expand presence with 23 new stores by 2022
France: Auchan sees ‘successful turnaround’ despite falling sales
France: Carrefour grows sales by 7.8%
Germany: Aldi Nord and Aldi Süd to sell COVID-19 tests
Germany: Edeka
...to takeover 44 Real stores
...tests automated convenience formats at Renningen train station
Germany: Kaufland launches online with newly acquired Real
Germany: Rewe achieves €75 billion in sales
Netherlands: Ahold Delhaize sales up 18.7% in Q4
Netherlands: Albert Heijn and Selecta to open unmanned stores
Portugal: DIA looking to repurpose Clarel stores
Portugal: Jerónimo Martins net profit drops 20% but starts 2021 with ‘renewed confidence’
Spain: DIA losses narrow following business reorganisation
Switzerland: Coop sees a ‘stable profit’ of €499.2 million
UK: Aldi invests in £22 million on new and refurbished London stores
UK: Asda
...sale to Issa Brothers completed for £6.8 billion
...festive sales up 5.1% as customers’ trade up
...owners consider selling fashion label George
...risks 5,000 roles ahead of restructuring plans
UK: Lidl launches Whatsapp Customer Care messaging for ‘on-the-go’ shoppers
UK: Morrisons offers takeaway service from new Camden store
UK: Sainsbury’s
...price match Aldi on 240 products
...to cut 500 roles including from its clothing division Tu
...will not accept business rates relief extension
UK: Tesco
...risks store managers’ jobs as part of restructuring process
...Tesco supermarkets in Thailand and Malaysia rebranded to Lotus
UK: Waitrose opens new fulfilment centre as it expands online delivery services
 OTHER FOOD AND DRINK SPECIALISTS
UK: Hotel Chocolat sees ‘superb’ half-year results as revenues grow 11%
NEWS ANALYSIS – CLOTHING AND FOOTWEAR
 CLOTHING RETAILING
Germany: C&A join Zalando’s Connected Retail Program
Italy: United Colors of Benetton unveils new sustainability concept store
UK: Belstaff sales up 29% pre-COVID
UK: Burberry to voluntarily return £6m in business rates relief
UK: French Connection begins formal sale process
UK: Inditex profits fall in a 'difficult' year
UK: Mango adds Intimissimi to offering as part of new marketplace model
UK: Moss Bros does not expect to ‘return to pre-COVID-19 levels in the short-term’
UK: Primark expects £1.1 billion loss in sales due to store closures
UK: Ted Baker revenue down 47% following weekly demand for occasion wear
UK: Urban Outfitters sales rise 25% thanks to virtual shopping service
 FOOTWEAR RETAILING
UK: Clarks sees revenue drop 6.4% thanks to ‘challenging trade’ in the UK
UK: Shoe Zone sees a loss of £14.6m due to store closures
NEWS ANALYSIS – MIXED GOODS
 MULTI-SECTOR RETAILING
Russia: Fix Price considers floatation with the aim of listing in March
UK: B&M revenues up 22% in Q3 thanks to customers ‘stockpiling’
UK: Halfords
...calls for legalisation of e-scooters on roads amid rising demand
...to repay £10.7 million of furlough support
UK: Home Bargains increases turnover by 13% thanks to new store openings
UK: Infarm rolls out larger-scale vertical farming option for retailers
UK: M&S
...boss warns ‘unbearable’ business rates will lead to thousands of more job losses
...reveals new sustainable denim range
...rolls out credit option for loyalty members
...rolls out new online websites in 46 markets
 DEPARTMENT STORES
Spain: El Corte Inglés risks 3,000 jobs as it begins restructuring process
UK: Debenhams to close Scottish stores leading to 647 redundancies
UK: Frasers Group
...warns of £100m hit from lockdown
...reviews store estate despite business relief extension
...opens kidswear stores
UK: John Lewis
...to roll out ‘hundreds’ of shop-in-shops inside Waitrose stores
...looks to close more stores
...offers online credit scheme to customers
NEWS ANALYSIS – HOUSEHOLD GOODS
 DIY RETAILING
UK: Travis Perkins to complete demerger from Wickes in Q2
UK: Homebase to open three small-format stores
UK: Kingfisher to launch B&Q stores in Saudi Arabia
 FURNITURE RETAILING
UK: DFS interim revenues up 17.3% amid ‘resilient’ market
 HOMEWARES RETAILING
UK: Cox & Cox sales up 75% bolstered by strong Christmas trading in the final quarter
UK: Dunelm deputy chair to sell £211m stake to ‘broaden his investment portfolio’
NEWS ANALYSIS – ONLINE
France: Picnic to enter France
Poland: Amazon enters Poland with dedicated website
UK: Amazon set to open first contactless store in Ealing
UK: Angling Direct online sales up 40%
UK: Asos relaunches Topshop and Topman on its website
UK: Deliveroo confirms intention to float
UK: Farfetch and The Restory team up to launch Farfetch Fix
UK: In The Styles expected to float in March
UK: Made.com thinking about next strategic options and considers possible IPO
UK: Moonpig expects full-year revenue to double
UK: N Brown closes Figleaves website and headquarters
UK: Ocado rivals dedicated aisles for B Corp-certified suppliers
UK: Virgin Wines makes its stock market debut after £110m valuation
NEWS ANALYSIS – OTHER RETAIL
 HEALTH AND BEAUTY RETAILING
France: L’Oréal sales down 6.3% but online rises 62%
Italy: Douglas to close 128 stores as part of restructuring plan
Italy: Kiko set to open 300 new stores by 2023
UK: Boots to cut 300 roles from Nottingham HQ
UK: Essie teams up with L’Oréal to launch new AR tool ‘Essie On Hand’
 SPORTS AND LEISURE GOODS RETAILING
Germany: Adidas set to sell reebok as part of its five-year strategy
UK: Evans Cycle to cut 300 jobs
 GARDEN CENTRES
UK: Dobbies sales rise 51% amid lockdown
 PETS AND PET PRODUCTS RETAILING
UK: Pets at Home increases profit guidance after strong fourth quarter
 SHOPPING CENTRES
UK: Westfield owner to focus on UK estate as it reduces its presence in the US
NEWS ANALYSIS – ECONOMY
UK: January sales down 2.3% amid national lockdown
UK: Non-essential retail to open in April according to roadmap
UK: BRC reports 9.5% growth in retail sales for February

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