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European Retail Briefing - January 2012

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

    • PPR aiming to sell its assets
      • What we’ve seen
        • Redcats embraces the 21st Century
          • Fnac faces a tougher climate
            • A new strategy to arrest the slide
              • Anglo-Saxon experience suggests risks
                • What it means
                • Retail Sales Review

                  • Key points
                    • France
                      • Figure 1: France: Retail sales trends, 2010-11
                    • Inflation
                      • Figure 2: France: Inflation, 2010-11
                    • Germany
                      • Figure 3: Germany: Retail sales trends, 2010-11
                    • Inflation
                      • Figure 4: Germany: Inflation, 2010-11
                    • Italy
                      • Figure 5: Italy: Retail sales trends, 2010-11
                    • Inflation
                      • Figure 6: Italy: Inflation, 2010-11
                    • Netherlands
                      • Figure 7: The Netherlands: Retail sales trends, 2010-11
                    • Inflation
                      • Figure 8: The Netherlands: Inflation, 2010-11
                    • Spain
                      • Figure 9: Spain: Retail sales trends, 2010-11
                    • Inflation
                      • Figure 10: Spain: Inflation, 2010-11
                    • UK
                      • Figure 11: UK: Retail sales trends, 2010-11
                    • Inflation
                      • Figure 12: UK: Annual percentage change in Consumer Price Index for selected product groups, 2010-11
                  • Headlines for the Month

                    • Grocers
                      • Clothing
                        • Footwear
                          • Multi-sector retailing
                            • Department stores
                              • Mixed goods
                                • DIY
                                  • Electricals
                                    • Music and video
                                      • Furniture
                                        • Home shopping
                                          • Health and beauty
                                            • Sports and leisure goods
                                              • Jewellers
                                                • Toys and games
                                                • News Analysis

                                                  • Grocers
                                                    • Czech Republic: Tesco launches online grocery shopping service in Prague
                                                      • France: Carrefour
                                                        • …confirms G&G bid
                                                          • …underperforms in horrible year
                                                            • France: Casino in negotiations to supply the Alsace Co-op's c-stores
                                                              • France: Intermarché to buy Altis off Eroski
                                                                • Germany: Aldi Nord reports weakening sales in 2010
                                                                  • Germany: Edeka
                                                                    • …Netto Discount brand to expand
                                                                      • …to phase out Netto City format
                                                                        • Germany: Rewe to revamp Penny chain
                                                                          • Hungary: Aldi launches marketing campaign in Hungary
                                                                            • Hungary: Auchan to acquire Cora stores
                                                                              • Italy: Migros to expand in Italy
                                                                                • Latvia: Iki and Cento operator ruled insolvent
                                                                                  • Netherlands: Albert Heijn to create online marketplace
                                                                                    • Poland: Maxima enters Polish market
                                                                                      • Portugal: Jeronimo Martins' growth driven by Poland
                                                                                        • Russian Federation: Rewe's Billa considers acquisition of local chain
                                                                                          • Russian Federation: X5 Retail to launch online site next year
                                                                                            • Slovenia: Mercator suspends sale of Agrokor
                                                                                              • Switzerland: Spar breaks the billion barrier
                                                                                                • UK: Asda outperforms rivals over Christmas
                                                                                                  • UK: Booths sales up as shoppers entertain over Christmas
                                                                                                    • UK: Morrisons
                                                                                                      • …M Savers to hit shelves in January
                                                                                                        • …plans 2012 expansion
                                                                                                          • …reports Christmas sales rise as it eyes Best Buy sites
                                                                                                            • UK: Sainsbury's sees 'record-breaking' Christmas
                                                                                                              • UK: Tesco
                                                                                                                • …enters F&F partnership in Saudi Arabia
                                                                                                                  • …extends Home Efficiency offering by selling boilers
                                                                                                                    • …reports "disappointing" Christmas with like-for-likes falling 2.2%
                                                                                                                      • UK: The Co-operative Group
                                                                                                                        • …adds 28 stores after acquiring David Sands
                                                                                                                          • …posts Christmas sales uplift
                                                                                                                            • UK: Waitrose
                                                                                                                              • …enjoys festive sales rise
                                                                                                                                • …reports 'very strong' Christmas trading
                                                                                                                                  • …to introduce contactless payments
                                                                                                                                    • Off-licences
                                                                                                                                      • UK: Majestic Wine posts Christmas sales rise
                                                                                                                                        • Clothing retailing
                                                                                                                                          • Austria: Primark to open first store in Austria
                                                                                                                                            • Europe: Inditex sales growth slows on warmer weather
                                                                                                                                              • Europe: TJX Europe President to depart
                                                                                                                                                • France: PPR e-commerce chief departs
                                                                                                                                                  • Germany: Esprit launches new concept in Cologne
                                                                                                                                                    • UK: American Apparel opens more concession in Selfridges
                                                                                                                                                      • UK: Aurora Fashions reports 13% like-for-like rise this winter
                                                                                                                                                        • UK: Blue Inc
                                                                                                                                                          • …enjoys positive Christmas
                                                                                                                                                            • …preparing to buy 21 D2 stores
                                                                                                                                                              • …tops UK shopping centre ranking
                                                                                                                                                                • UK: Bravissimo performance driven by Pepperberry
                                                                                                                                                                  • UK: Burberry reports rising sales due to outerwear and leather goods
                                                                                                                                                                    • UK: D2 fashion chain collapses into administration
                                                                                                                                                                      • UK: Howies bought back by management
                                                                                                                                                                        • UK: Jacques Vert
                                                                                                                                                                          • …and Irisa to share back office
                                                                                                                                                                            • …received bid from Sun European
                                                                                                                                                                              • UK: Jaeger full year profits fall
                                                                                                                                                                                • UK: La Senza
                                                                                                                                                                                  • …acquired by Alshaya UK
                                                                                                                                                                                    • …restructuring plans
                                                                                                                                                                                      • UK: Moss Bros sees rise in like-for-likes
                                                                                                                                                                                        • UK: Mulberry appoints new chief executive
                                                                                                                                                                                          • UK: N Brown reports like-for-likes rise 2%
                                                                                                                                                                                            • UK: New Look reports strong Christmas trading
                                                                                                                                                                                              • UK: Next sales up due to strong Directory performance
                                                                                                                                                                                                • UK: Paul Smith sees profits for the full year rise
                                                                                                                                                                                                  • UK: Peacocks
                                                                                                                                                                                                    • …considering selling off Bonmarche
                                                                                                                                                                                                      • …struggles as RBS pulls out of rescue deal
                                                                                                                                                                                                        • UK: SuperGroup
                                                                                                                                                                                                          • …Christmas sales rise
                                                                                                                                                                                                            • …profits fall despite LFL lift
                                                                                                                                                                                                              • UK: Ted Baker delivers "excellent" Christmas performance
                                                                                                                                                                                                                • UK: The Kooples opens first UK outlet store
                                                                                                                                                                                                                  • UK: Triumph considers bid for La Senza stores
                                                                                                                                                                                                                    • UK: Victoria's Secret owner in line to buy La Senza
                                                                                                                                                                                                                      • UK: White Stuff reports 2% year-on-year rise
                                                                                                                                                                                                                        • Footwear retailing
                                                                                                                                                                                                                          • Poland: Foot Locker opens first store in Poland
                                                                                                                                                                                                                            • UK: Barratts Priceless
                                                                                                                                                                                                                              • …sees more than 1,600 jobs go
                                                                                                                                                                                                                                • …stores acquired by Ziff
                                                                                                                                                                                                                                  • …to close 18 stores before Christmas 2011
                                                                                                                                                                                                                                    • UK: Schuh sees strong year
                                                                                                                                                                                                                                      • Multi-sector retailing
                                                                                                                                                                                                                                        • Germany: Douglas confirms talks with financial investors
                                                                                                                                                                                                                                          • Germany: Metro reports sales fall and cancels plans for Kaufhof
                                                                                                                                                                                                                                            • UK: Marks & Spencer
                                                                                                                                                                                                                                              • …reports stronger food sales while general merchandise suffers
                                                                                                                                                                                                                                                • …increases opening hours and delivery service for Christmas
                                                                                                                                                                                                                                                  • UK: Laura Ashley sees like-for-likes rise
                                                                                                                                                                                                                                                    • Miscellaneous specialists
                                                                                                                                                                                                                                                      • UK: Greggs reports boosted Christmas sales
                                                                                                                                                                                                                                                        • UK: Halfords sees like-for-likes drop of 4.8%
                                                                                                                                                                                                                                                          • UK: Mamas and Papas enters red
                                                                                                                                                                                                                                                            • UK: Albemarle & Bond to open 25 stores this year
                                                                                                                                                                                                                                                              • UK: Mothercare
                                                                                                                                                                                                                                                                • …sales rise driven by promotions
                                                                                                                                                                                                                                                                  • …sees private equity firms circle for bids
                                                                                                                                                                                                                                                                    • UK: Past Times
                                                                                                                                                                                                                                                                      • …closes 47 stores
                                                                                                                                                                                                                                                                        • …enters administration
                                                                                                                                                                                                                                                                          • …officially in administration
                                                                                                                                                                                                                                                                            • UK: Pets at Home posts "robust" half-year trading
                                                                                                                                                                                                                                                                              • UK: QD reports solid Christmas and plans expansion
                                                                                                                                                                                                                                                                                • UK: Thorntons
                                                                                                                                                                                                                                                                                  • …issues profit warning
                                                                                                                                                                                                                                                                                    • …suffers poor Christmas performance
                                                                                                                                                                                                                                                                                      • Department stores
                                                                                                                                                                                                                                                                                        • UK: Debenhams has strong Christmas
                                                                                                                                                                                                                                                                                          • UK: Fortnum & Mason reports record sales
                                                                                                                                                                                                                                                                                            • UK: Harvey Nichols launches new concept store in Liverpool One
                                                                                                                                                                                                                                                                                              • UK: House of Fraser posts "pleasing" sales growth
                                                                                                                                                                                                                                                                                                • UK: John Lewis
                                                                                                                                                                                                                                                                                                  • …launches trend-led women's label JL Weekend
                                                                                                                                                                                                                                                                                                    • …reports successful sales week
                                                                                                                                                                                                                                                                                                      • …sales boosted by late delivery offer
                                                                                                                                                                                                                                                                                                        • …sales up 4.7% as it prepares for Christmas rush
                                                                                                                                                                                                                                                                                                          • …up on Christmas sales from last year
                                                                                                                                                                                                                                                                                                            • …sees strong sales week
                                                                                                                                                                                                                                                                                                              • UK: Selfridges launches last-minute Christmas shopping services
                                                                                                                                                                                                                                                                                                                • Mixed goods retailers
                                                                                                                                                                                                                                                                                                                  • UK: Argos
                                                                                                                                                                                                                                                                                                                    • …launches pop-up shops in London train stations
                                                                                                                                                                                                                                                                                                                      • …like-for-likes fall 8.8%
                                                                                                                                                                                                                                                                                                                        • UK: The Original Factory Shop reports growth
                                                                                                                                                                                                                                                                                                                          • UK: Poundland's Dealz store to have £1.20 pricing structure
                                                                                                                                                                                                                                                                                                                            • DIY retailing
                                                                                                                                                                                                                                                                                                                              • Ireland: Homebase reports €46m loss in Ireland
                                                                                                                                                                                                                                                                                                                                • UK: B&Q
                                                                                                                                                                                                                                                                                                                                  • …invests £12m in product ranges
                                                                                                                                                                                                                                                                                                                                    • …launches 'most aggressive' price campaign yet
                                                                                                                                                                                                                                                                                                                                      • UK: Focus DIY's customers, shoppers and unsecured creditors receive nothing
                                                                                                                                                                                                                                                                                                                                        • UK: Topps Tiles sales down 4.2% in first quarter
                                                                                                                                                                                                                                                                                                                                          • UK: Wickes
                                                                                                                                                                                                                                                                                                                                            • …further hit by low consumer confidence
                                                                                                                                                                                                                                                                                                                                              • …owner buys remaining Toolstation stake
                                                                                                                                                                                                                                                                                                                                                • UK: Robert Dyas reports strong Christmas run-up
                                                                                                                                                                                                                                                                                                                                                  • Electricals retailing
                                                                                                                                                                                                                                                                                                                                                    • Germany: Media Markt's online store opens
                                                                                                                                                                                                                                                                                                                                                      • Switzerland: Media-Saturn launches online
                                                                                                                                                                                                                                                                                                                                                        • UK: Best Buy big-boxes to close on 15 January
                                                                                                                                                                                                                                                                                                                                                          • UK: Dixons' reports falling like-for-likes over Christmas
                                                                                                                                                                                                                                                                                                                                                            • UK: Maplin reports strong December
                                                                                                                                                                                                                                                                                                                                                              • UK: Phones 4U reports sales rise in final quarter
                                                                                                                                                                                                                                                                                                                                                                • Music and video goods retailing
                                                                                                                                                                                                                                                                                                                                                                  • UK: HMV
                                                                                                                                                                                                                                                                                                                                                                    • …considers sale of live music arm on bad sales
                                                                                                                                                                                                                                                                                                                                                                      • …sales fall over Christmas
                                                                                                                                                                                                                                                                                                                                                                        • UK: Netflix to launch in UK and Ireland today
                                                                                                                                                                                                                                                                                                                                                                          • UK: Oakley Capital plans bid for HMV's live music arm
                                                                                                                                                                                                                                                                                                                                                                            • Carpet retailing
                                                                                                                                                                                                                                                                                                                                                                              • UK: Carpetright reports first half loss
                                                                                                                                                                                                                                                                                                                                                                                • UK: United Carpets pre-tax profits halve in first half
                                                                                                                                                                                                                                                                                                                                                                                  • Furniture retailing
                                                                                                                                                                                                                                                                                                                                                                                    • Denmark: JYSK continues with UK expansion plans
                                                                                                                                                                                                                                                                                                                                                                                      • Estonia: Ikea eyes Estonia and Latvia
                                                                                                                                                                                                                                                                                                                                                                                        • UK: CSL reports Christmas sales rise
                                                                                                                                                                                                                                                                                                                                                                                          • UK: DFS earnings fall but invests in growth
                                                                                                                                                                                                                                                                                                                                                                                            • UK: Dunelm growth continues in strong H1
                                                                                                                                                                                                                                                                                                                                                                                              • UK: Dwell to open first Welsh store at St David's
                                                                                                                                                                                                                                                                                                                                                                                                • UK: Ikea UK & Ireland gets first British boss
                                                                                                                                                                                                                                                                                                                                                                                                  • Home shopping
                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Asos to open data to external web developers
                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Brand Alley reports sales up 61%
                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Ocado
                                                                                                                                                                                                                                                                                                                                                                                                          • …enjoys late surge in Christmas sales
                                                                                                                                                                                                                                                                                                                                                                                                            • …warns on profits
                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Shop Direct posts Christmas sales rise
                                                                                                                                                                                                                                                                                                                                                                                                                • Health and beauty retailing
                                                                                                                                                                                                                                                                                                                                                                                                                  • Germany: Rossmann sees sales growth
                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Boots sees sales rise more than 3% in December
                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Feelunique's Christmas sales boosted by high-end brands
                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Lush Christmas "exceeds expectations"
                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Superdrug delivers "solid" festive growth
                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: The Fragrance Shop sees strong online sales over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                              • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Clinton Cards reports rising Christmas like-for-likes
                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Foyles
                                                                                                                                                                                                                                                                                                                                                                                                                                    • …reports Christmas sales up 20%
                                                                                                                                                                                                                                                                                                                                                                                                                                      • …reports continued profitability
                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Hallmark plans out international expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Ryman profits driven by ecommerce
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sports and leisure goods retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Blacks Leisure
                                                                                                                                                                                                                                                                                                                                                                                                                                                • …faces post-Christmas administration
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …in administration
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …moves closer to pre-pack administration
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Edinburgh Woollen Mill a surprise bidder for Blacks
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Go Outdoors and Mountain Warehouse join race for Blacks
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: JD Sports
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • …considers bid for Blacks
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • …formally acquires Blacks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • …in "advanced discussions" to buy Blacks
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …posts festive like-for-likes rise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: JJB improves performance over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Sports Direct
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • …pulls out of Blacks bid
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …sales up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Yeomans owner Granite buys Gelert
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Pro Bike wins backing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Jewellers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Denmark: Pandora appoints new chief executive
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Switzerland: Swatch reports record sales despite franc
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Folli Follie enjoys 64% increase in sales over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Signet UK sales rise 1.8% over Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Garden centres
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: The Garden Centre Group has "outstanding" Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Toys and games retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Game
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …like-for-likes fall as margins hit
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …set to appoint Deloitte for turnaround
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Games Workshop pre-tax profits rise
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Hawkin's Bazaar owner headed for administration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: The Entertainer outperforms toy market by 22.1%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: BRC:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • …'Christmas on a knife egde' as footfall drops
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …stronger Christmas "reflects one-off factors"
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Cost of retail crime rises 31%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: CPI
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • …at 4.2% in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …inflation falls in November
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Friday before Christmas to be the busiest shopping day of the year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: January shopper numbers fall
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Kantar reveals Sainsbury's market share highest since March 2003
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: New Year grocery discounting begins
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Online shopping spree leads to delivery chaos
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: ONS: Retail sales value up 4.6% in November
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Portas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …response will not be brought forward
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • …reveals 28 recommendations for high street revival
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • …to focus on planning and parking reforms to revive high street
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Scottish retail sales fall worst since 1999
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Shop price inflation hits 16-month low in December
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Shopper numbers up in week before Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Supermarkets now represent 36% of retail property pipeline
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: West End takings fall despite traffic-free weekend
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • European Retail Scene

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Concentration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 13: Sales of leading retailers, 2006-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 14: Leading retailers’ share of all European retailers’ sales, 2006-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • The economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Outlook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • 2012 and the retailers

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              European Retail Briefing - January 2012

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