European Retail Briefing - January 2012

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

Inflation

Germany

Inflation

Italy

Inflation

Netherlands

Inflation

Spain

Inflation

UK

Inflation

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

The economy

Outlook

2012 and the retailers