UK Retail Briefing - June 2010

ANALYST COMMENT
 HOW ARE THE MIGHTY FALLEN!
Victims of the banks
A long list
The silver lining
HEADLINES OF THE MONTH
RETAIL SALES – BACKGROUND AND OUTLOOK
Retail sales trends
Figure 1: Retail sales trends, 2009-10
BRC and ONS out of line - again
Figure 2: UK retail sales y/y growth, BRC vs ONS, 2008-10
John Lewis
Figure 3: John Lewis: Year-on-year growth, 2008-10
Inflation and wages
Figure 4: RPI vs Wage rate growth, 2008-10
The RPI eases back
Figure 5: Annual percentage change in Retail Price Index for selected product groups, 2009-10
Looking forward
SECTOR ANALYSIS – MISCELLANEOUS NON-FOOD SPECIALISTS
Classifications
 SALES TRENDS
Figure 6: Non-food specialist retailers, sales trends, 2000-10 (Jan-May)
Booksellers, newsagents and stationers
Figure 7: Booksellers, newsagents and stationers, sales trends, 2000-10 (Jan-May)
Figure 8: Books, news and stationery retailers as % all retail sales, 2000-09
Figure 9: Leading booksellers and newsagents, 2005/06-2009/10
Health and beauty
Figure 10: Health and beauty retailers, sales trends, 2000-10 (Jan-May)
Figure 11: Health and beauty retailers as % all retail sales, 2000-09
Figure 12: Leading health and beauty retailers, 2005/06-2009/10
Miscellaneous
Figure 13: Miscellaneous specialist retailers, sales trends, 2000-10 (Jan-May)
Figure 14: Miscellaneous specialist retailers as % all retail sales, 2000-09
Figure 15: Other miscellaneous specialists: Leading players, 2005/6-2009/10
NEWS ANALYSIS
 BAKERS (RETAIL)
Hotel Chocolat looks to raise £5 million via 'chocolate bond'
Thorntons issues another profit warning
 CO-OPS (RETAIL)
Co-op trials electricals
 CONVENIENCE STORES
Henderson reports solid results
 GROCERS
Asda
…appoints Clarke as new chief
…purchases Netto for £778 million
…staff to receive £47 million
…struggles in Q1
Sainsbury's
…profits rise 17.5%
…invests in new technology to beat the weather
…aims for larger share of clothing market
Spar International sales climb 5.5%
Tesco
…quarterly sales up 6.9%
…employees receive record share payout
…chief set to retire
Waitrose
…LFLs up 3.4%
…to enter Bahrain
…and Ocado sign new 10-year deal
 OFF-LICENCES
Majestic enjoys sales fizz
 CLOTHING RETAILING
Bhs launches electricals website
East Clothing returns to profits
Ethel Austin relanched as Life & Style
French Connection LFLs fall
Green confident on Bhs future despite loss
Jaeger reports solid FY results
Laura Ashley reports revenue increase
Monsoon plans large China expansion
Moss Bros LFLs up 12.6%
Mulberry signs new London flagship store lease
New Look posts impressive FY results
Peacocks
…mulling over sale
…sale process set to begin
Phase Eight in MBO
SuperGroup to signs franchise agreement in UAE
Ted Baker posts 20% sales increase
Topshop eyes Chicago opening
 MIXED GOODS RETAILING
Argos, Homebase sales fall
B&M Bargains benefits from downturn
Mothercare sales pass the £1 billion mark
The Original Factory Shop up for sale
 HEALTH AND BEAUTY RETAILING
Alliance Boots
…sees profits surge
…to open Advantage Card to other retailers
 MULTI-SECTOR RETAILING
M&S
…posts "satisfactory" results
…reports on Plan A performance
 DEPARTMENT STORES
Beales buys Robbs of Hexham
John Lewis
…reports ‘buoyant sales’
…reveals new 'At Home' stores
Liberty sales rise 40%
TJ Hughes abandons sale process
 DIY RETAILING
Kingfisher posts mixed results
Robert Dyas invests £3 million in repositioning and new ad campaign
Topps Tiles posts poor profits
Travis Perkins LFLs down 1.7%
 FURNITURE RETAILING
Habitat appoints executive chairman
 HOME SHOPPING
Asos profits soar 44%
Flying Brands buys Flowers Direct out of administration
Ideal Shopping enjoys sales boost
N Brown Group buys Figleaves
Net-a-Porter to launch men's site
Ocado hires five banks
 BOOKS AND STATIONERY RETAILING
Clinton Cards suffers sales drop
WH Smith sales dented by ash cloud
 SPORTS AND LEISURE GOODS RETAILING
JD Sports acquires Sonetti
JD Sports Fashion sales increase
JJB suffers £68.8 million loss
 ELECTRICALS RETAILING
DSGi LFLs up 6%
Kesa blames weak sales on 'extremely poor weather'
 JEWELLERS
Aurum posts strong FY results
Signet Q1 revenue up 6.2%
 MISCELLANEOUS SPECIALIST RETAILING
Halfords profits up 26.7%
 LUXURY GOODS RETAILING
Burberry reports strong results
 MISCELLANEOUS
Delivery process ‘frustrating’ online shoppers
Football reduces footfall, study claims
 ECONOMY
London retail sales growth slows in April
London retail sales rise in May, says BRC
ONS: Retail sales rise 1.1% in April
UK retail sales down in May, says CBI
UK retail sales rebound in May, says BRC