European Retail Briefings - November 2008

HIGHLIGHTS: NOVEMBER 2008
Grocers
Multi-sector retailing
Clothing retailing
Department stores
Electrical stores
NEWS ANALYSIS
 GROCERS
Belgium: Delhaize reports solid Q3 results
Germany: Tengelmann posts 2.5% sales increase
Netherlands: Ahold posts Q3 results
Netherlands: Schuitema sales drop 4.5% in Q3
Portugal: Jeronimo Martins
… says home market will suffer consumption downturn
… maintains short-term forecast
Russian Federation: Magnit and Seventh Continent first in line for government loan
Sweden: Axfood suffers fall in nine-month profits
UK: Aldi sales set to reach £2bn
UK: Asda suffers profit drop after OFT fines
UK: Morrisons well-positioned for future growth, says Bolland
UK: Sainsbury's and Asda cut prices... again!
UK: Tesco
… suppliers say demands are too 'aggressive'
… cuts sales growth guidance in economic gloom
… seeks to arrange £1bn loan
… asks suppliers to wait 30 days for payment
… plans Discounter range expansion
UK: Waitrose
… to open first store outside the UK
… copies "dine for £10" promotion
US: Publix suffers Q3 profit drop
US: Supervalu records 14% Q2 profit drop
 OFF-LICENCES
UK: Majestic Wine suffers profit slump
 CLOTHING RETAILING
Iceland: Baugur plans deal with Sir Philip Green
Netherlands: Sales up 30% at Tommy Hilfiger
UK: Ann Summers appoints new managing director
UK: Arcadia
… reports operating profit is down 6%
… owner to double size of Topshop chains
… outlines strategy for fiscal 2009
UK: Burberry reports 13% H1 sales increase
UK: Jaeger chair: Weather, not the economy, is fashion's foe
UK: Mark One owner secures funding
UK: Next suffers decline in LFLs
UK: Peacocks reports sales, profit boost
UK: Primark records 17% FY profit increase
US: Gap opens first Factory Stores in Canada
US: Sears to close 12 stores
 MASS MERCHANDISER
US: Wal-Mart raises sales outlook despite downturn
 DOLLAR STORES
US: Dollar Tree posts Q3 sales boost
 MIXED GOODS RETAILING
UK: Home Retail Group suffers H1 losses
UK: Mothercare
… records robust first-half results
… launches US social networking site
UK: Poundland launches shopping website
UK: Woolworths
…sells nine stores to Tesco
… stakeholder fails to up share
… seeks advice on business plan from Deloitte
… appoints new CFO
 MULTI-SECTOR RETAILING
Finland: Kesko posts lower-than-expected profits in Q3
Germany: Rewe and Coop to create wholesale giant
UK: Alliance Boots
… opens first UAE store
… awards its £50m media planning and buying business
UK: HMV
… acquires Gamerbase
… calls digital pitch
UK: M&S
… appears to lead the way towards ethical retailing
… reports 34.1% H1 profit slump
… signs to Wolverhampton development scheme
 DEPARTMENT STORES
UK: Debenhams
… FY profits slump 17%
… chair enthusiastic re: TPG Bauger bid
… appoints Sharp to deputy chief
UK: Fenwick posts FY profit boost
UK: House of Fraser
… distances itself from Icelandic crisis
… shareholders have first option on stake
UK: John Lewis
… plans £20m Bluewater store overhaul
… to open first store outside the UK
… launches multi-million pound Christmas campaign
US: Macy's profit drop to exceed forecast
US: Saks to close Club Libby Lu
 HEALTH AND BEAUTY RETAILING
US: CVS
… launches Beauty 360 store
… to buy Longs after it guarantees shares
 BOOKS AND STATIONERY RETAILING
US: Office Depot reports $6.7m loss in Q3
 ELECTRICAL RETAILING
Europe: Best Buy Europe targets sales increase
UK: DSG puts Electro World up for sale
UK: PC World launches fancy dress competition on Facebook
US: Best Buy expands in China
US: Circuit City
… mulls closure of 150 shops
… to cut 7,000 jobs to stay afloat
 DIY RETAILING
UK: B&Q to launch eco-friendly products
UK: Travis Perkins nine-month sales up 3.3%
US: RadioShack posts better-than-expected Q3 profit
 CARPET RETAILING
UK: Carpetright posts H1 results and announcesSleepright acquisition
 FURNITURE RETAILING
UK: Habitat closes more stores to reduce losses
UK: Ikea and "Ideal Home" team up for Christmas
 HOMEWARES RETAILING
UK: Dunelm records sales increase
UK: Rosebys
… closes further 24 stores
… offloads stores to Edinburgh Woollen Mill subsidiary
 HOME SHOPPING
UK: Findel reports robust H1 sales
UK: Flying Brands suffers 19% slump in Q3 sales
UK: Ideal Shopping Direct
… issues profit warning
… appoints Hancox as CEO
UK: Littlewoods moves online and cuts 400 jobs
UK: Ocado taps shareholders for further £40m
US: Amazon
…lowers Q4 sales targets
… launches consumer electronics shop for Canada
US: eBay to launch fixed-price value range
 FOOTWEAR RETAILING
US: Shoe Pavilion closes remaining 64 stores
 SPORTS AND LEISURE GOODS RETAILING
UK: JD in talks to buy JJB's assets
UK: JJB Sports
… reveals rescue plans
… in asset sale talks
… in stakes deal with Sports Direct
 JEWELLERS
UK: Signet reports Q3 sales slump
 GARDEN CENTRES
UK: Wyevale
… under scrutiny from HBOS
… e-commerce and marketing director resigns
ECONOMIC NEWS
Europe: Retail sales fall in September
Germany: Retail sales decline 3.8% in September
Ireland: Retail sales see biggest drop since 1984
UK
Retail sales slump in October, says BRC
Retail sales down for seventh consecutive quarter, says CBI
September retail sales down, says ONS
US: September retail sales slide 1.2%
MARKET ANALYSIS: HEALTH AND BEAUTY RETAILING
 FRANCE
Market in brief
The future
Market size and performance
The competitive landscape
Figure 1: France: Health and beauty retailers’ sales as share of all retail sales, 2002-12
Evaluation
Figure 2: France: Health and beauty retailers evaluation, 2006/07
 GERMANY
Market in brief
The future
Market size and performance
The competitive landscape
Figure 3: Germany: Health and beauty retailers’ sales as share of all retail, 2002-12
Evaluation
Figure 4: Germany: Health and beauty retailers, evaluation, 2006/07
 ITALY
Market in brief
A mixed picture for the future
Market size and performance
Specialists’ sector struggles
Figure 5: Italy: Retail sales, 2002-12
Evaluation
Figure 6: Italy: Health and beauty specialists’ evaluation, 2006/07
 SPAIN
Market in brief
Outlook
Market size and performance
Market leaders and market share
Evaluation
Figure 7: Spain: Health and beauty specialists’ evaluation, 2006/07
 UK
Market in brief
The future
Market sizes, performance and structure
Channels of distribution
Figure 8: UK health and beauty market, channels of distribution, 2006
Market leaders
Evaluation
Figure 9: UK: Health and beauty specialists, evaluation, 2008
COMPANY PROFILE: ROSSMANN
Figure 10: Rossmann: Sales as share of health & beauty specialists’ sales in Europe, 2002-06
Figure 11: Rossmann: Sales as share of health & beauty specialists’ sales in Germany, 2002-06
Strategic evaluation
Background
Financial performance
Figure 12: Rossmann: Group financial performance, 2002-07
Store portfolio
Figure 13: Rossmann: Outlet data, 2002-07
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
e-commerce and home shopping