European Retail Briefing - October 2012

ANALYST COMMENT
Assessing consumer confidence
Figure 1: Europe: Consumer confidence, leading countries, Aug-Sep 2012
Figure 2: Europe: Consumer confidence, lagging countries, Aug-Sep 2012
Retail sales growth
Figure 3: Year-on-year retail sales growth, leading countries, Jul-Aug 2012
Figure 4: Year-on-year retail sales growth, lagging countries, Jul-Aug 2012
Confidence versus retail sales growth
Figure 5: Europe: Consumer confidence versus year-on-year retail sales growth, three month average, Jun/Jul-Aug/Sep 2012
Growth by sector
Figure 6: Europe: Year-on-year retail sales growth rates in selected retail sectors, Jan 2011-Jul/Aug 2012
RETAIL SALES REVIEW
Key points
 FRANCE
Figure 7: France: Retail sales, 2011-12
Inflation
Figure 8: France: Inflation, 2011-12
 GERMANY
Figure 9: Germany: Retail sales trends, 2011-12
Inflation
Figure 10: Germany: Inflation, 2011-12
 ITALY
Figure 11: Italy: Retail sales trends, 2011-12
Inflation
Figure 12: Italy: Inflation, 2011-12
 NETHERLANDS
Figure 13: The Netherlands: Retail sales trends, 2011-12
Inflation
Figure 14: The Netherlands: Inflation, 2011-12
 SPAIN
Figure 15: Spain: Retail sales trends, 2011-12
Inflation
Figure 16: Spain: Inflation 2011-12
 UK
Figure 17: UK: Retail sales trends, 2011-12
Inflation
Figure 18: UK: Inflation, 2011-12
HEADLINES FOR THE MONTH
Grocers
Clothing retailing
Footwear retailing
Department stores
Multi-sector retailing
DIY retailing
Home shopping
Health and beauty retailing
Sports and leisure goods retailing
Toys and games retailing
NEWS ANALYSIS
 CONVENIENCE STORES
UK: Asda a possible candidate for Costcutter alliance
Co-op invests £7 million in David Sands store conversion plan
Waitrose to revamp convenience stores
 GROCERS
Europe: Tesco launches online grocery shopping in Slovakia
France: Carrefour
… testing self-scan via smartphones
…to swap stores with Intermarché
France: Casino to launch contactless payments
Germany: Ahold opens first store in Germany
Germany: Metro
… issues profit warning
… taken off the DAX
Netherlands: Albert Heijn tells suppliers to cut prices to help fund its expansion
UK: Aldi reports 450% boost in operating profit
UK: Asda
… faces system error with Price Guarantee Scheme
…reports 6% rise in profits for 2011
…to launch click-and-collect service
UK: Booths eyes expansion
UK: Morrisons
… appoints new managing director for M Local format
…prepares for online launch
…to launch clothing range
UK: Sainsbury's
… Q2 like-for-likes boosted by Paralympic sponsorship
…to introduce minimum basket spend online
UK: Tesco
… appoints new group technical director
…has a long way to go, but overhaul is underway
…launches first all-LED store
…reports 11.6% fall in profits
…secures planning consent for Norfolk store
…to lead digital revolution
UK: Waitrose grabs highest grocery market share in its history
 OFF-LICENCES
UK: Bargain Booze reports 7.7% decline in pre-tax profits
 OTHER FOOD SPECIALISTS
UK: Holland and Barrett expands omnichannel outlets
UK: Thorntons
… reports 1.7% decline in like-for-like sales
…reports fall in sales and pre-tax profit
 CLOTHING RETAILING
Europe: Aurora launches andotherbrands.com in Sweden and the Netherlands
Europe: H&M reports 4% fall in like-for-likes
Europe: Profits soar at Prada
Europe: Sixty Group
… fighting for survival
…in midst of crisis talks
Europe: Versace launches e-commerce site
Europe: Warnaco plans multimillion pound expansion in Europe
France: Karl Lagerfeld store to open
France: Lancel appoints D&G director as new CEO
Spain: Inditex reports 32% increase in H1 earnings
Sweden: H&M Q3 results fall short of predictions
UK: All Saints
… appoints Burberry vice president as new Chief Executive
…chairman exits business
UK: Armani Group take control of UK operations
UK: Burberry reports sales slowdown
UK: Coast opens new flagship store in Manchester
UK: East reports dramatic fall in pre-tax profits
UK: French Connection reports pre-tax loss of £6.3 million
UK: G-Star in line for Regent Street store
UK: Jack Wills sees sales figures rise
UK: Jacques Vert appoints former John Lewis director as group trading director
UK: Jane Norman to open new store
UK: Karen Millen appoints two new retail directors
UK: Matalan to create 5,000 Christmas jobs
UK: Mini Velvet opens 12th standalone store
UK: Moss Bros profits stabilise
UK: New Look reports 30% rise in profits
UK: Next reports first half results
UK: Primark
… opens new store on London’s Tottenham Court Road
…reports 17% boost in sales
UK: Reiss introduces WiFi and iPads to its store
UK: River Island
… reports 25% fall in pre-tax profits
…set to launch accessories range designed by bloggers
UK: Stella McCartney sees profits soar
UK: SuperGroup
… reports 1.7% increase in Q1 like-for-likes
…shareholders rebel
UK: Ted Baker reports 10.4% profit boost
UK: Thomas Pink introduces one-touch technology
UK: Zara’s UK profits soar
 FOOTWEAR RETAILING
UK: Brantano reports £3.7 million pre-tax loss
UK: Hotter Shoes ramps up store opening schedule
UK: Jones Group appoints president of global footwear and accessories
UK: Kurt Geiger sees earnings edge up
UK: LK Bennett appoints new Chief Executive
UK: Schuh to launch kids' brand
 DEPARTMENT STORES
Germany: Karstadt opens second K TOWN store in Cologne
Ireland: Gordon Brothers buys Clerys
UK: Allders to close
UK: John Lewis Partnership
… reports 60% rise in profits
…and M&S to open at new development in York
UK: Debenhams
… opens new store in Chesterfield
…appoints Google’s head of retail as non-executive director
…reports profit growth
…to increase floor space at Westfield Bradford store
UK: Harvey Nichols to open Christmas pop-up at Merry Hill
UK: House of Fraser reports 1.7% rise in H1 like-for-likes
 MIXED GOODS RETAILING
UK: Argos reports rise in sales
UK: B&M
… goes up for sale
…seeks European expansion
UK: Poundland
… opens new distribution centre
…to create 2,000 jobs over the Christmas period
 MULTI-SECTOR RETAILING
Germany: Douglas reports 1.7% rise in sales
UK: Laura Ashley reports sales growth
UK: M&S
… to create 1,000 jobs with new distribution centre
…to create 20,000 temporary Christmas jobs
…to open 12 more bank branches by the end of 2012
 MUSIC AND VIDEO RETAILING
UK: HMV sales continue to fall
 DIY RETAILING
Europe: Kingfisher opens 1,000 international stores
Germany: Hornbach grows its share in German market
Germany: Praktiker avoids insolvency
UK: B&Q to make 15% of head office staff redundant
UK: Kingfisher announces interim results
UK: Topps Tiles expected to meet profit target
 ELECTRICAL RETAILING
Europe: Dixons appoints managing director for Northern Europe operations
Europe: Darty's CEO to step down
UK: Dixons to close Dixons.co.uk business
UK: Maplin appoints new commercial director
 CARPET RETAILING
UK: United Carpets bought in pre-pack administration deal
 FURNITURE RETAILING
Sweden: Ikea appoints new CEO
 HOMEWARES RETAILING
UK: Lakeland reports fall in profit but rise in turnover
 HOME SHOPPING
Europe: PPR nears sale of Redcats catalogue arm
Germany: Neckermann to close
UK: Amazon to hire 10,000 Christmas staff at UK packing centres
UK: ASOS
… appoints new chairman
…hires former M&S retail chief
…sales increase 15%
UK: Boden hit by cotton price increase
UK: eBay partners with Nectar for customer loyalty programme
UK: Findel reports 7.9% boost in group sales in H1
UK: Ocado
… launches DIY and car care lines
…increases focus on price
…reports 10% rise in Q3 sales
UK: Profits climb at Abel & Cole as sale speculation mounts
UK: The Hut reports 54% increase in sales in H1
 HEALTH AND BEAUTY RETAILING
Europe: Dia acquires German firm Schlecker's Iberian drugstores
UK: Alliance Boots to acquire 12% stake in Chinese pharmaceutical company
UK: The Body Shop in takeover talks
 BOOK AND STATIONERY RETAILING
UK: Clintons’ owner receives bid to take company private
UK: Paperchase opens first airport store
UK: WH Smith offers free WiFi
 SPORTS AND LEISURE GOODS RETAILING
Germany: Adidas lowers 2015 sales forecast for Reebok
UK: Decathlon rules out bid for JJB Sports
UK: JD Sports reports 85% fall in H1 profit
UK: JJB Sports
… acquires new bidder
…calls in administrators
…expected to be acquired by Sports Direct
UK: Jon Moulton pulls out of the race to buy JJB
UK: Sports Direct
… deal for JJB stores now imminent
…closes in on JJB Sports
… acquires 20 JJB Sports stores
…undercuts stockists’ prices
 JEWELLERS
UK: Claire's Accessories suffers as demand decreases
 CHARITY SHOPS
UK: Oxfam trials new store design concept
 OPTICIANS
UK: Optical Express subsidiary falls into administration
 TOYS AND GAMES RETAILING
UK: Game to lose Gamestation fascia
UK: Hamleys
… acquired by Groupe Ludendo
…to open first store in Wales
 MISCELLANEOUS SPECIALIST RETAILING
UK: Go Outdoors’ Chief Executive takes up product-focused role
UK: Countrywide invests £2 million in lowering prices
UK: Halfords
… appoints new Chief Executive
…reports boost in Q2 revenue
UK: Kiddicare unveils £200m sales vision
UK: Mothercare appoints new director of retail operations
 SHOPPING CENTRES
UK: Bluewater reports 6.6% rise in sales in September
UK: Westfield Stratford City attracts 47 million visitors in first year
UK: Westfield submits plans for £1 billion redevelopment of Croydon
UK: Whitely Shopping Centre attracts new tenants
 ECONOMY
UK: BRC: September like-for-like retail sales up 1.5%
UK: Consumer spending increases by 3%
UK: Inflation rate slows to 2.5%
UK: London’s Luxury sector grows
UK: ONS: Olympic Games cause 0.2% decline in retail sales
UK: Retail sales growth halved after Lehman Brothers collapse
UK: Retail sales growth set to remain stagnant for 2012
UK: Sunday trading reform losing momentum
UK: UK consumers slow to adopt apps for purchases
UK: Retailers launch pop-up shops
EUROPEAN RETAIL HANDBOOK 2011/12: GREECE
 THE GREEK RETAIL SCENE
 GREECE IN FIGURES
Population
Figure 19: Greece: Estimated population, 2007-11
Figure 20: Greece: Estimated population, by age group, 2007-11
Figure 21: Greece: Population by region, 2011
Economy
Figure 22: Greece: Gross domestic product, 2002-11
Figure 23: Greece: Consumer prices index, 2007-11
Figure 24: Greece: Households consumption expenditure, 2002-11
Figure 25: Greece: Breakdown of households consumption expenditure, 2007-10
 GREEK RETAILING IN FIGURES
Figure 26: Greece: Retail sales, 2007-12
Figure 27: Greece: Breakdown of retail sales (excl VAT), 2007-11
 FOOD RETAILING IN GREECE
Figure 28: Greece: Food retailers’ sales (excl VAT), 2007-11
Figure 29: Greece: Major food retailers, 2011
 NON-FOOD RETAILING IN GREECE
Figure 30: Greece: Mixed goods retailers’/department stores' sales (excl VAT), 2007-11
Figure 31: Greece: Identified leading department store retailers, 2011
Figure 32: Clothing, footwear, and textiles specialists’ sales (excl VAT), 2007-11
Figure 33: Greece: Identified leading clothing, textiles and footwear retailers, 2011
Figure 34: Greece: Household goods specialists’ sales (excl VAT), 2007-11
Figure 35: Greece: Identified leading household goods retailers, 2011
Figure 36: Other specialists’ retail sales (excl VAT), 2007-11
Figure 37: Greece: Major miscellaneous non-food retailers, 2011
Figure 38: Greece: Non-store retailers' sales (excl VAT), 2007-11
Figure 39: Greece: Selected major non-store retailers, 2011
 MAJOR RETAILERS IN GREECE
Figure 40: Greece: Identified leading retailers, 2011
 MAJOR SHOPPING MALLS
Figure 41: Greece: Leading shopping centres, 2012