European Retail Briefing - July 2010

ANALYST COMMENT
 EDGING AWAY FROM HARD DISCOUNT
Domestic difficulties
A new format
Problems elsewhere
The end of the road for Hard Discount?
HEADLINES FOR THE MONTH
Food retailers
Clothing retailers
Mixed goods
Multi-sector
DIY
Electricals
Furniture
Health and beauty
RETAIL SALES REVIEW
Key points
 FRANCE
Figure 1: France: Retail sales trends, 2009-10
Inflation
Figure 2: France: Inflation, 2009-10
 GERMANY
Figure 3: Germany: Retail sales trends, 2009-10
Inflation
Figure 4: Germany: Inflation, 2009-10
 ITALY
Figure 5: Italy: Retail sales trends, 2009-10
Inflation
Figure 6: Italy: Inflation, 2009-10
 NETHERLANDS
Figure 7: The Netherlands: Retail sales trends, 2009-10
Inflation
Figure 8: The Netherlands: Inflation, 2009-10
 SPAIN
Figure 9: Spain: Retail sales trends, 2009-10
Inflation
Figure 10: Spain: Inflation, 2009-10
 UK
Figure 11: Retail sales trends, 2009-10
Inflation
Figure 12: UK: Annual percentage change in Consumer Price Index for selected product groups, 2009-10
NEWS ANALYSIS
 GROCERS
France: Carrefour set for $1bn Asian assets sale
Ireland: Musgrave sales down 3%
Netherlands: Sligro buys Sanvier for €50m
Russian Federation: Magnit reports Q2 sales boost
Russian Federation: X5 sales up 18% in Q2
UK: Asda grocery share declines
UK: Buffett increases Tesco stake
UK: Retailers must re-evaluate, Asda chairman says
UK: Sainsbury's
…reports sales increase
…launches new ad campaign
…aims for schoolwear boost
…reshuffles executive roles
UK: Tesco
…quarterly sales up 6.9%
…plans property sell-off
…raises £950m through store sale
…to open standalone London clothing store
…to purchase Fresh & Easy suppliers
UK: Waitrose
…buys Channel Island supermarkets
…ends EAT talks
 CLOTHING RETAILING
UK: Alexon sales down 5%
UK: American Apparel restructures debt
UK: Gap plans Chinese expansion
UK: H&M records soaring profits in Q2
UK: Jacques Vert posts ‘strong set of results’
UK: Mamas & Papas enters US with Toys R Us link-up
UK: Matalan posts rise in profits
UK: Primark sales rise 17%
UK: Republic acquired by private equity group
UK: Ted Baker posts 20% sales increase
UK: USC back in the black
UK: Victoria’s Secret to open London store
 FOOTWEAR RETAILING
UK: Schuh posts record results
UK: Tom Hunter puts Office up for sale
 MIXED GOODS RETAILING
Netherlands: Maxeda to sell fashion division
UK: Wilkinson doubles profits
 MULTI-SECTOR RETAILING
Germany: Metro to take time over Kaufhof sale
UK: M&S LFLs increase 6%
 DEPARTMENT STORES
UK: Beales reports improved profits
UK: Debenhams LFLs drop 0.4%
UK: Harrods to open own-label boutiques
UK: John Lewis reports sales increase
 DIY RETAILING
Germany: Hornbach posts solid results
UK: B&Q to open city centre stores
UK: Travis Perkins buys BSS Group for £557.6m
 MUSIC AND DVD RETAILING
UK: HMV
…mulls Waterstones sale
…posts 17% rise in profits
 ELECTRICAL RETAILING
Germany: Media Saturn outlines Turkish expansion plans
UK: Best Buy UK chief stands down
UK: Comet plans UK store refurbishment
UK: DSGi increases profits by 61%
UK: Investor buys stake in Kesa
 CARPET RETAILING
UK: Carpetright reports soaring profits
 FURNITURE RETAILING
France: Conforama posts solid Q1 results
 HOME SHOPPING
UK: Amazon launches UK grocery offer
UK: Ideal Shopping
…enjoys sales boost
…to enter pet accessory market
UK: Isis invests in Getting Personal
UK: My-Wardrobe receives £6m investment
UK: N Brown Group
…buys Figleaves
…reports 'subdued' trading
UK: Ocado
…confirms IPO
…anticipates £1.18bn IPO valuation
…hits out at funding claims
UK: The Hut Group launches Washbag.com
 HEALTH AND BEAUTY RETAILING
Germany: Celesio and Phoenix merge Dutch operations
UK: Superdrug losses narrow
UK: The Fragrance Shop posts LFLs increase
 BOOKS AND STATIONERY RETAILING
UK: Clinton Cards issues profit warning
 SPORTS AND LEISURE GOODS RETAILING
UK: JJB reports sales improvement
UK: Tiso back in the black
UK: Trespass plans major expansion
 JEWELLERS
UK: Theo Fennell reduces losses
 TOYS AND GAMES RETAILING
UK: Hamleys posts first profit for six years
 VIDEO GAMES RETAILING
UK: Game Group suffers sales drop, appoints new chief
 MISCELLANEOUS SPECIALIST RETAILING
UK: Pets at Home profits soar 36%
 LUXURY GOODS RETAILING
UK: Mulberry sales up 23%
ELECTRICALS RETAILING
 EURONICS INTERNATIONAL
Figure 13: Euronics: estimated sales as share of electrical retailers sales in europe, 2005-09
Strategic evaluation
Recent history
Figure 14: Euronics: European members and websites, by country of operation, 2010
Financial data
Figure 15: Euronics International: Sales by country, 2001-09
Figure 16: Euronics International: Sales by country, 2005-06 and 2008
Store portfolio
Figure 17: Euronics International: Outlet data, 2004-08
Retail offering
Figure 18: Euronics international, sales mix by purchase volume, 2009
e-commerce