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European Retail Briefing - February 2011

European Retail Briefing is a monthly briefing providing news and analysis that includes company results, store openings, cross-border moves, M & A activities, executive changes and property developments. Additionally each month, European Retail Briefing focuses on a key issue or specific European retail sector. The month's retail news is then analysed sector by sector, making this an invaluable resource for all with an interest in the European retail industry.

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Table of contents

  1. Analyst Comment

    • Inflation looms over European food retail
      • Inflation: The return
        • Price rises will be passed on
          • The grocers will lead the way
          • Headlines for the Month

            • Food retailers
              • Clothing retailers
                • Multi-sector retailing
                  • DIY
                    • Health and beauty
                      • Furniture retailing
                        • Sports and leisure goods
                          • Jewellers
                            • Economy
                            • 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, 2009-11
                                • Spain
                                  • Figure 9: Spain: Retail sales trends, 2009-10
                                • Inflation
                                  • Figure 10: Spain: Inflation, 2009-11
                                • UK
                                  • Figure 11: Retail sales trends, 2009-10
                                • Inflation
                                  • Figure 12: UK: Annual percentage change in Consumer Price Index for selected product groups, 2009-11
                              • DIY Retailing in Europe

                                  • Market size and performance
                                    • Specialists’ retail sales
                                      • National attitudes to DIY
                                        • The European competitive landscape
                                          • Market shares
                                            • Figure 13: Europe: Leading DIY retailers share of all European retail sales, 2009
                                          • Outlook for DIY retailing
                                          • Groupe Adeo

                                              • Figure 14: Groupe Adeo: Sales as share of DIY retailers’ sales in Europe, 2006-10
                                              • Figure 15: Groupe Adeo (France): Sales as share of DIY retailers’ sales in France, 2006-10
                                            • Strategic evaluation
                                              • Continuing on the growth trend
                                                • Multi-format increases expansion potential
                                                  • Eastern Europe, the key for future growth?
                                                    • Recent history
                                                      • Financial performance
                                                          • Figure 16: Groupe Adeo: Sales performance, 2005-10
                                                          • Figure 17: Groupe Adeo: Estimated European sales performance, 2009
                                                        • Store portfolio
                                                            • Figure 18: Groupe Adeo: Outlet data, 2005-10
                                                          • Retail offering
                                                            • e-commerce and home shopping
                                                            • News Analysis

                                                              • Grocers
                                                                • Belgium: Ahold to enter Belgium market in March
                                                                  • Belgium: Colruyt meets Q3 targets
                                                                    • Belgium: Delhaize reports modest fourth quarter growth
                                                                      • France: Auchan to launch convenience store
                                                                        • France: Carrefour
                                                                          • …emerging markets improves end of year results
                                                                            • …shares rise in split speculation
                                                                              • …ends year well with domestic resurgence
                                                                                • …nears full control of Cdiscount
                                                                                  • France: Leclerc's sales increase 5.1% in 2010
                                                                                    • Latvia: Maxima Grupe sees fall in turnover
                                                                                      • Netherlands: Ahold sees solid fourth quarter
                                                                                        • Portugal: Jerónimo Martins sees yearly growth
                                                                                          • Russian Federation: Dixy Group sees profits increase
                                                                                            • Russian Federation: Magnit 2010 sales up
                                                                                              • Russian Federation: O'Key sees strong fourth quarter and full year results
                                                                                                • Russian Federation: Seventh Continent acquires Mosmart
                                                                                                  • Russian Federation: Vester reports strong full-year sales
                                                                                                    • Russian Federation: X5 reports strong sales
                                                                                                      • Sweden: Axfood reports strong full-year results
                                                                                                        • Sweden: ICA Group net sales fall
                                                                                                          • Switzerland: Coop Schweiz reveals strong 2010 results
                                                                                                            • Switzerland: Migros turnover down
                                                                                                              • UK: Asda Income Tracker: average family's spending power falls
                                                                                                                • UK: Asda sells 39 Netto stores as part of OFT disposal deal
                                                                                                                  • UK: M&S appoints Tesco's Laura Wade-Gery
                                                                                                                    • UK: Morrisons
                                                                                                                      • …in talks with George Davies
                                                                                                                        • …retail boss to step down
                                                                                                                          • …sees like-for-likes up 1%
                                                                                                                            • …to complain about Asda's ads
                                                                                                                              • UK: Nisa Today’s Group
                                                                                                                                • …reports strong Christmas trading figures
                                                                                                                                  • …reports double digit growth
                                                                                                                                    • UK: Sainsbury's
                                                                                                                                      • …abandons plans to move headquarters to King's Cross
                                                                                                                                        • …appoints non-exec from Google
                                                                                                                                          • …market share up, but Morrisons' falls
                                                                                                                                            • …opens Fresh Kitchen
                                                                                                                                              • …reports Christmas high
                                                                                                                                                • …to source all Fairtrade cotton from supplier in India
                                                                                                                                                  • UK: Tesco
                                                                                                                                                    • …completes sale and leaseback of 21 shops
                                                                                                                                                      • …launches 20% off sale
                                                                                                                                                        • …launches daily dozen price campaign
                                                                                                                                                          • …reports slight Christmas growth
                                                                                                                                                            • …to open new DC for dotcom and Express
                                                                                                                                                              • UK: The Co-op
                                                                                                                                                                • …appoints Gill Bar as marketing director
                                                                                                                                                                  • …sales fall due to bad weather
                                                                                                                                                                    • …to create 1,700 store management jobs
                                                                                                                                                                      • UK: Waitrose
                                                                                                                                                                        • …reaches £5bn sales
                                                                                                                                                                          • …to introduce 'Little' stores
                                                                                                                                                                            • Clothing retailing
                                                                                                                                                                              • Croatia: H&M launches new store in Zagreb
                                                                                                                                                                                • Denmark: Bestseller increases its share in ASOS
                                                                                                                                                                                  • France: Camaïeu sees like-for-likes decline 10%
                                                                                                                                                                                    • France: LVMH predicts strong year ahead
                                                                                                                                                                                      • France: Mim to develop via partnerships
                                                                                                                                                                                        • France: Vente-privee UK sales rise 114%
                                                                                                                                                                                          • Italy: Benetton warns raw material costs may hurt margins
                                                                                                                                                                                            • Romania: H&M opens first Romanian store
                                                                                                                                                                                              • Spain: Inditex chairman Amancio Ortega steps down
                                                                                                                                                                                                • Sweden: H&M profits rise 13% for the year
                                                                                                                                                                                                  • UK: Alexon sales up but issues profit warning
                                                                                                                                                                                                    • UK: Aquascutum narrows losses
                                                                                                                                                                                                      • UK: Aurora to outsource distribution and IT functions
                                                                                                                                                                                                        • UK: Bestseller increases Asos stake to over 20%
                                                                                                                                                                                                          • UK: Burberry
                                                                                                                                                                                                            • …launches evolving spring ad campaign
                                                                                                                                                                                                              • …to move into Regent Street Habitat store
                                                                                                                                                                                                                • UK: French Connection
                                                                                                                                                                                                                  • …opens Facebook store
                                                                                                                                                                                                                    • …pre-tax profits expected to rise
                                                                                                                                                                                                                      • UK: H&M to launch sustainable clothing range
                                                                                                                                                                                                                        • UK: Hermes increases forecast for 2010
                                                                                                                                                                                                                          • UK: Hobbs secures £14m investment
                                                                                                                                                                                                                            • UK: Jack Wills to expand further overseas
                                                                                                                                                                                                                              • UK: Jacques Vert festive sales rise
                                                                                                                                                                                                                                • UK: Matalan Christmas like-for-likes decline 4.5%
                                                                                                                                                                                                                                  • UK: Moss Bros sells Hugo Boss franchise for £16.5m
                                                                                                                                                                                                                                    • UK: Mulberry Christmas like-for-likes up 70%
                                                                                                                                                                                                                                      • UK: New Look sales fall over Christmas
                                                                                                                                                                                                                                        • UK: Peacocks Group sales and profits rise
                                                                                                                                                                                                                                          • UK: Phase Eight potentially bought out by private equity firm
                                                                                                                                                                                                                                            • UK: Primark Christmas sales up
                                                                                                                                                                                                                                              • UK: Reiss on track for 40% sales rise
                                                                                                                                                                                                                                                • UK: Republic gain Andy Bond as new chairman
                                                                                                                                                                                                                                                  • UK: SuperGroup
                                                                                                                                                                                                                                                    • …buys European franchisee to push international growth
                                                                                                                                                                                                                                                      • …Christmas sales rise
                                                                                                                                                                                                                                                        • …sees strong third quarter sales
                                                                                                                                                                                                                                                          • UK: Ted Baker sales rise 7.6%
                                                                                                                                                                                                                                                            • UK: Topshop plans to 'double' sales
                                                                                                                                                                                                                                                              • Footwear retailing
                                                                                                                                                                                                                                                                • UK: Barratts Priceless posts £6.1m profit
                                                                                                                                                                                                                                                                  • UK: Dune creates IT platform for expansion plans
                                                                                                                                                                                                                                                                    • UK: Jimmy Choo backers opt for sale
                                                                                                                                                                                                                                                                      • UK: Jones Bootmaker in £40m sale
                                                                                                                                                                                                                                                                        • Multi-sector retailing
                                                                                                                                                                                                                                                                          • France: Marks & Spencer to open store in Champs-Elysees
                                                                                                                                                                                                                                                                            • UK: Halfords' retail sales drop over Christmas
                                                                                                                                                                                                                                                                              • UK: Home Retail reports better than expected Christmas
                                                                                                                                                                                                                                                                                • UK: Kiddicare plans to repeat business
                                                                                                                                                                                                                                                                                  • UK: Marks & Spencer
                                                                                                                                                                                                                                                                                    • …appoints Tesco's Laura Wade-Gery
                                                                                                                                                                                                                                                                                      • …posts 2.8% Christmas like-for-like rise
                                                                                                                                                                                                                                                                                        • …to focus on clothing arm
                                                                                                                                                                                                                                                                                          • …top mCommerce league
                                                                                                                                                                                                                                                                                            • UK: Pets Corner profits up as it plans expansion
                                                                                                                                                                                                                                                                                              • UK: Poundworld to roll out multi-price store format
                                                                                                                                                                                                                                                                                                • UK: Thorntons' sales fall in cold weather
                                                                                                                                                                                                                                                                                                  • Department stores
                                                                                                                                                                                                                                                                                                    • UK: Beales narrows losses by third
                                                                                                                                                                                                                                                                                                      • UK: Debenhams like-for-likes slow
                                                                                                                                                                                                                                                                                                        • UK: Fortnum & Mason reports record Christmas
                                                                                                                                                                                                                                                                                                          • UK: Harrods break £1bn sales mark
                                                                                                                                                                                                                                                                                                            • UK: House of Fraser
                                                                                                                                                                                                                                                                                                              • …appoints director of ecommerce
                                                                                                                                                                                                                                                                                                                • …lose Landsbanki stake
                                                                                                                                                                                                                                                                                                                  • …sees strong Christmas trading
                                                                                                                                                                                                                                                                                                                    • UK: John Lewis
                                                                                                                                                                                                                                                                                                                      • …appoints new buying director
                                                                                                                                                                                                                                                                                                                        • …sees continuing strong trade
                                                                                                                                                                                                                                                                                                                          • …sees weekly sales fall
                                                                                                                                                                                                                                                                                                                            • …to open in-store spas
                                                                                                                                                                                                                                                                                                                              • UK: Laura Ashley FY profits to be "significantly higher" than expected
                                                                                                                                                                                                                                                                                                                                • UK: Selfridges finalises de Bijenkorf deal
                                                                                                                                                                                                                                                                                                                                  • UK: The Original Factory Shop reports Christmas like-for-likes up 5%
                                                                                                                                                                                                                                                                                                                                    • DIY retailing
                                                                                                                                                                                                                                                                                                                                      • Finland: Kesko reports poor fourth quarter
                                                                                                                                                                                                                                                                                                                                        • Germany: Praktiker ends year with weak Q4
                                                                                                                                                                                                                                                                                                                                          • Sweden: Clas Ohlson sees December sales rise
                                                                                                                                                                                                                                                                                                                                            • UK: Kingfisher's trade chain Screwfix opens to public
                                                                                                                                                                                                                                                                                                                                              • UK: Topps Tiles' Christmas sales up
                                                                                                                                                                                                                                                                                                                                                • Electrical retailing
                                                                                                                                                                                                                                                                                                                                                  • Europe: Best Buy Europe sees two more senior departures
                                                                                                                                                                                                                                                                                                                                                    • Germany: Metro Group sees successful 2010
                                                                                                                                                                                                                                                                                                                                                      • UK: Best Buy UK online boss to leave
                                                                                                                                                                                                                                                                                                                                                        • UK: Carphone Warehouse sees like-for-likes rise over Christmas
                                                                                                                                                                                                                                                                                                                                                          • UK: Comet
                                                                                                                                                                                                                                                                                                                                                            • …begins redundancy consultations as it consolidates service centres
                                                                                                                                                                                                                                                                                                                                                              • …directors leave after dire trading
                                                                                                                                                                                                                                                                                                                                                                • …like-for-likes down 7.3%
                                                                                                                                                                                                                                                                                                                                                                  • UK: Dixons sees sales suffer from snow
                                                                                                                                                                                                                                                                                                                                                                    • UK: Everything Everywhere to test stores under own name
                                                                                                                                                                                                                                                                                                                                                                      • UK: Jessops Christmas like-for-likes up 3%
                                                                                                                                                                                                                                                                                                                                                                        • UK: O2 Retail to close 40 stores in 2011
                                                                                                                                                                                                                                                                                                                                                                          • Music and video goods retailing
                                                                                                                                                                                                                                                                                                                                                                            • UK: HMV
                                                                                                                                                                                                                                                                                                                                                                              • …appoints KPMG amid bank concerns
                                                                                                                                                                                                                                                                                                                                                                                • …begins to close stores
                                                                                                                                                                                                                                                                                                                                                                                  • …sees buyers circling
                                                                                                                                                                                                                                                                                                                                                                                    • …suppliers hit by credit insurance cut
                                                                                                                                                                                                                                                                                                                                                                                      • UK: Music Sales: 98% of singles now purchased online
                                                                                                                                                                                                                                                                                                                                                                                        • Furniture retailing
                                                                                                                                                                                                                                                                                                                                                                                          • UK: Bathstore receive bids from Change Capital
                                                                                                                                                                                                                                                                                                                                                                                            • UK: Carpetright sales fall and it warns on profits
                                                                                                                                                                                                                                                                                                                                                                                              • UK: Cath Kidston sales rise 52%
                                                                                                                                                                                                                                                                                                                                                                                                • UK: Dunelm Christmas like-for-likes fall
                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Habitat to exit Regent Street
                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Homestyle profits down but Reid acquisition boosts turnover
                                                                                                                                                                                                                                                                                                                                                                                                      • UK: The Conran Shop sales rise over pre-VAT period
                                                                                                                                                                                                                                                                                                                                                                                                        • Home shopping
                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Amazon
                                                                                                                                                                                                                                                                                                                                                                                                            • …acquires LoveFilm
                                                                                                                                                                                                                                                                                                                                                                                                              • …boosts fashion offer with lingerie launch
                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Argos to partner with PayPal
                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Asos sales up 59%
                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Ebay reports strong Christmas due to fashion division
                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Figleaves.com expands delivery options and drop boxes
                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Flying Brands warns on profits
                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Ideal Shopping Direct improves 2010 sales
                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: M and M Direct sees sales rise
                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: N Brown
                                                                                                                                                                                                                                                                                                                                                                                                                                • …acquires Slimma and Splendour
                                                                                                                                                                                                                                                                                                                                                                                                                                  • …sees Christmas sales up
                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Ocado
                                                                                                                                                                                                                                                                                                                                                                                                                                      • …ends year with strong Christmas trading sales
                                                                                                                                                                                                                                                                                                                                                                                                                                        • …reports profit and reduces full year losses
                                                                                                                                                                                                                                                                                                                                                                                                                                          • …shares rise as bid speculation increases
                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Shop Direct Christmas sales up 5%
                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: The Hut sales up 70% in 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Health and beauty retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Belgium: Omega confident about 2011 after strong 2010 results
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Boots UK like-for-likes up in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Feelunique.com sales up 50% over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Holland & Barrett like-for-likes up 2.3% in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Superdrug like-for-likes up 1.7% over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: The Perfume Shop Christmas like-for-likes up 2%
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: British Bookshops & Stationers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …axes 40 staff
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …becomes first retail casualty of 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Foyles to open first shop outside London in 70 years
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Office Depot ties up with Dixons for PC World shop-in-shops
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: The Book Depository sees strong first half
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Waterstone's to close 11 shops on Sunday
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: WH Smith
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • …like-for-likes fall 5%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …buys 22 British Bookshops & Stationers shops
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Sports and leisure goods retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Ireland: JD Sports acquires Champion Sports
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Blacks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …sale talks break down
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • …sees two bidders remain
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Go Outdoors reveals record year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: JD Sports
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …considers buying JJB
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …invests £1m in Kukri purchase
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Kitbag sales rise to record over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Snow + Rock appoints Neil McCausland as non-exec chairman
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Jewellers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Switzerland: Richemont sees third quarter sales rise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Aurum reports 'outstanding' Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: HPJ Jewellers bought out of administration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Signet UK sales fall over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Toys and games retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Game
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • …like-for-likes improve over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …signs deal with Microsoft to sell downloads in store
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Games Workshop sees sales fall
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Hamleys
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • …potentially bought by Qataris
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …up for sale
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Europe: Retail sales: Estonia, Lithuania and Latvia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Germany: German retail sales fall
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: BRC
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • …reports retail like-for-likes up 2.3% in January
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • …reports retail sector like-for-likes fell 0.3% in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Consumer confidence rises in fourth quarter
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Consumer price inflation rises to 3.7% in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: ONS show strong retail sales for December 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Scottish Q4 retail sales outgrow rest of Europe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Shop price inflation rises to 2.5%

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        European Retail Briefing - February 2011

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