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European Retail Briefing - June 2011

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

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Table of contents

  1. Analyst Comment

    • DIY: A Tough Climate
      • What we’ve seen
        • Mixed performance in the DIY retail sector
          • Leading retailers manage the situation
            • Figure 2: Performance of the leading retailers, Q1 2011
          • Who is losing out?
            • Greater opportunities lie further afield
              • What it means
              • Headlines for the Month

                • Grocers
                  • Clothing retailers
                    • Department stores
                      • DIY retailing
                        • Electricals retailing
                          • Health and beauty retailing
                          • Retail Sales Review

                            • Key points
                              • France
                                • Figure 3: France: Retail sales trends, 2010-11
                              • Inflation
                                • Figure 4: France: Inflation, 2010-11
                              • Germany
                                • Figure 5: Germany: Retail sales trends, 2010-11
                              • Inflation
                                • Figure 6: Germany: Inflation, 2010-11
                              • Italy
                                • Figure 7: Italy: Retail sales trends, 2010-11
                              • Inflation
                                • Figure 8: Italy: Inflation, 2010-11
                              • Netherlands
                                • Figure 9: The Netherlands: Retail sales trends, 2010-11
                              • Inflation
                                • Figure 10: The Netherlands: Inflation, 2010-11
                              • Spain
                                • Figure 11: Spain: Retail sales trends, 2010-11
                              • Inflation
                                • Figure 12: Spain: Inflation, 2010-11
                              • UK
                                • Figure 13: Retail sales trends, 2010-11
                              • Inflation
                                • Figure 14: UK: Annual percentage change in Consumer Price Index for selected product groups, 2010-11
                            • Retailing in the Asia Pacific Region

                                • China
                                  • Key facts
                                    • The Chinese retail scene
                                      • Human rights issues
                                        • Encouraging freedom
                                          • Reaping the rewards
                                            • Uncertainties remain
                                              • Rise of modern retail
                                                • Foreign retailers invest
                                                  • China in figures
                                                    • Population
                                                      • Figure 15: China: Population trends, 2001-10
                                                      • Figure 16: China: Population by age group and gender, 2009
                                                    • Economy
                                                      • Figure 17: China: Gross domestic product, 2001-10
                                                      • Figure 18: China: Household consumer expenditure, 2000-09
                                                      • Figure 19: China: Breakdown of household consumer expenditure by category and place of residence, 2006-09
                                                      • Figure 20: China: Inflation, 2001-10
                                                    • The Chinese retail market
                                                      • Figure 21: China: Retail sales, 2004-10
                                                      • Figure 22: China: Retail outlets and employees, 2008 and 2009
                                                      • Figure 23: China: Retail outlets, by format, 2009
                                                      • Figure 24: China: Retail data, by region, 2009
                                                      • Figure 25: China: Retail sales, by type of outlet, 2009
                                                      • Figure 26: Retail Sales by category of commodity, 2007 and 2008
                                                      • Figure 27: China: Top 100 retail chains, 2010
                                                    • High food investment
                                                      • Figure 28: China: Leading food retailers, 2010
                                                    • High disposable incomes increase discretionary spend
                                                      • Figure 29: China: Leading electrical specialists, 2010
                                                      • Figure 30: China: Leading department store operators, 2010
                                                    • Foreign players increasing
                                                      • Figure 31: China: Leading foreign retailers, 2010
                                                      • Figure 32: Bailian Group: Group financial performance, 2006-10
                                                      • Figure 33: Bailian Group: Outlet data, 2006-10
                                                  • News Analysis

                                                    • Grocers
                                                      • Europe: Spar reports solid full-year growth
                                                        • France: Carrefour plans Madrid listing for Dia and reiterates FY targets
                                                          • France: Intermarché opts for drive-thru e-commerce
                                                            • Denmark: Dansk Supermarked reports fall in Q1 sales
                                                              • France: Systeme-U acquires online grocer Telemarket
                                                                • Germany: Rewe
                                                                  • …launches premium format
                                                                    • …reports strong full-year results
                                                                      • Italy: Esselunga reports solid full year profit
                                                                        • Lithuania: Lidl negotiates land acquisition for new stores
                                                                          • Netherlands: Ahold
                                                                            • …loses CFO to Avon
                                                                              • …sees strong Q1 results, driven by US sales
                                                                                • Romania: Rewe appoints head of Billa
                                                                                  • Russian Federation: Magnit disappoints with Q1 profit, but sales grow
                                                                                    • Russian Federation: X5 Retail sales rise in first quarter
                                                                                      • Spain: Consum full year sales grow
                                                                                        • Switzerland: Migros reduces further prices
                                                                                          • UK: Asda
                                                                                            • …considers bid for Iceland
                                                                                              • …makes £27m food quality investment
                                                                                                • …opens converted Netto stores
                                                                                                  • …reports flat like-for-likes
                                                                                                    • …to open George clothing stores in Middle East
                                                                                                      • UK: Asda Income Tracker: Families £13 worse off
                                                                                                        • UK: Co-op
                                                                                                          • …members give £3m to charity
                                                                                                            • …relaunches Truly Irresistible in sales push
                                                                                                              • UK: Greggs sees continued total sales growth
                                                                                                                • UK: Haldanes files for administration
                                                                                                                  • UK: Heron Food sales rise but profits fall
                                                                                                                    • UK: Iceland Foods
                                                                                                                      • …goes on sale, with bids expected to reach £2bn
                                                                                                                        • …profits rise 20%
                                                                                                                          • UK: Morrisons
                                                                                                                            • …buys wholesale florist
                                                                                                                              • …prepares bid for Iceland
                                                                                                                                • …saves up promotions for shoppers' payday
                                                                                                                                  • UK: Sainsbury's
                                                                                                                                    • …expands Click & Collect network
                                                                                                                                      • …looking to attain growth 'beyond food'
                                                                                                                                        • …profits up 9%
                                                                                                                                          • …Shapland leaves
                                                                                                                                            • UK: Tesco
                                                                                                                                              • …appoints digital and marketing officer
                                                                                                                                                • …expands click-and-collect service
                                                                                                                                                  • …Japan boss takes UK role
                                                                                                                                                    • …looks to entice fashion brands
                                                                                                                                                      • …to launch new brands
                                                                                                                                                        • …trials in-store 'sat-nav' system
                                                                                                                                                          • UK: Waitrose
                                                                                                                                                            • …to launch healthy range
                                                                                                                                                              • …to launch high street cafe
                                                                                                                                                                • Ukraine: Metro reveals plans for rapid growth
                                                                                                                                                                  • Clothing retailing
                                                                                                                                                                    • France: Abercrombie & Fitch enters the French market
                                                                                                                                                                      • France: Hermes' sales rise 26%
                                                                                                                                                                        • France: LVMH re-purposes the Samaritaine building to include affordable housing
                                                                                                                                                                          • Italy: Prada valued at £9bn
                                                                                                                                                                            • Switzerland: Richemont profits rise
                                                                                                                                                                              • UK: American Eagle circles London for first UK stores
                                                                                                                                                                                • UK: Ann Summers to re-launch sex toys as part of re-branding strategy
                                                                                                                                                                                  • UK: Arcadia
                                                                                                                                                                                    • …marketing boss joins M&S
                                                                                                                                                                                      • …Green to sell Bhs stores to Primark
                                                                                                                                                                                        • UK: Aurora to extend 90-minute delivery option outside M25
                                                                                                                                                                                          • UK: Bravissimo profits hit by Pepperberry
                                                                                                                                                                                            • UK: Burberry
                                                                                                                                                                                              • …expects 40% profit rise
                                                                                                                                                                                                • …focuses on flagships as profits rise
                                                                                                                                                                                                  • UK: French Connection confident it will hit yearly targets
                                                                                                                                                                                                    • UK: George at Asda turns 21 and sparks new plans
                                                                                                                                                                                                      • UK: H&M
                                                                                                                                                                                                        • …sales rise with warm weather
                                                                                                                                                                                                          • …to open first UK concession in Selfridges
                                                                                                                                                                                                            • UK: Hobbs to launch contemporary sub-brand
                                                                                                                                                                                                              • UK: Jane Norman
                                                                                                                                                                                                                • …boss exits
                                                                                                                                                                                                                  • …up for sale
                                                                                                                                                                                                                    • UK: Kookai sales fall after repositioning
                                                                                                                                                                                                                      • UK: Life & Style on brink of administration
                                                                                                                                                                                                                        • UK: Mango changes logo to appeal to mature customers
                                                                                                                                                                                                                          • UK: Moss Bros reports like-for-likes up 8.2%
                                                                                                                                                                                                                            • UK: New Look profits fall sharply
                                                                                                                                                                                                                              • UK: Peacocks appoints Allan Leighton
                                                                                                                                                                                                                                • UK: Phase Eight reports 42% rise in pre-tax profits
                                                                                                                                                                                                                                  • UK: SuperGroup
                                                                                                                                                                                                                                    • …acquires Austin Reed Regent Street store
                                                                                                                                                                                                                                      • …growth slows in Q4
                                                                                                                                                                                                                                        • UK: TK Maxx slows expansion to cope with tougher trading
                                                                                                                                                                                                                                          • UK: Topshop launches 'secret' in-store pop-up shop
                                                                                                                                                                                                                                            • Footwear retailing
                                                                                                                                                                                                                                              • UK: Dune relaunches website in bid for 50% growth
                                                                                                                                                                                                                                                • UK: Jimmy Choo sold for £50m
                                                                                                                                                                                                                                                  • UK: Kurt Geiger
                                                                                                                                                                                                                                                    • …launches discount website
                                                                                                                                                                                                                                                      • …sold to Jones Group for £215m
                                                                                                                                                                                                                                                        • UK: Shoe Zone profits fall after store investment
                                                                                                                                                                                                                                                          • Multi-sector retailing
                                                                                                                                                                                                                                                            • UK: HMV
                                                                                                                                                                                                                                                              • …close to securing £210m refinancing deal
                                                                                                                                                                                                                                                                • …receives £43m cash bid for Waterstone's
                                                                                                                                                                                                                                                                  • …sells Waterstone's to Russian billionaire
                                                                                                                                                                                                                                                                    • UK: Argos sales down, but Homebase steady
                                                                                                                                                                                                                                                                      • UK: 99p Stores sees profits rise amid international plans
                                                                                                                                                                                                                                                                        • UK: Laura Ashley like-for-likes down
                                                                                                                                                                                                                                                                          • Miscellaneous specialists
                                                                                                                                                                                                                                                                            • UK: SCS to open carpet department in stores
                                                                                                                                                                                                                                                                              • UK: Albermarle & Bond full year trading to be at top end of expectations
                                                                                                                                                                                                                                                                                • UK: Halfords
                                                                                                                                                                                                                                                                                  • …Autocentres reports improved sales
                                                                                                                                                                                                                                                                                    • …profits up 7.2% despite tough retail sales
                                                                                                                                                                                                                                                                                      • …trials smaller high street bike shops
                                                                                                                                                                                                                                                                                        • UK: Mothercare to close outlets as profits slump
                                                                                                                                                                                                                                                                                          • Mixed goods retailers
                                                                                                                                                                                                                                                                                            • UK: B&M Bargains
                                                                                                                                                                                                                                                                                              • …acquires 11 Focus stores following Focus' collapse
                                                                                                                                                                                                                                                                                                • …reports strong year
                                                                                                                                                                                                                                                                                                  • UK: Marks & Spencer
                                                                                                                                                                                                                                                                                                    • …bolsters food division team
                                                                                                                                                                                                                                                                                                      • …chief considers moving company upmarket
                                                                                                                                                                                                                                                                                                        • …sees profits and market share rise
                                                                                                                                                                                                                                                                                                          • Department stores
                                                                                                                                                                                                                                                                                                            • Italy: La Rinascente bought by Central Retail Corporation
                                                                                                                                                                                                                                                                                                              • UK: Debenhams suppliers compete in auction-style bidding war
                                                                                                                                                                                                                                                                                                                • UK: Harrods launches iPhone app
                                                                                                                                                                                                                                                                                                                  • UK: Harvey Nichols owner eyes Aurum
                                                                                                                                                                                                                                                                                                                    • UK: HoF and Debenhams kick off summer sales early
                                                                                                                                                                                                                                                                                                                      • UK: House of Fraser
                                                                                                                                                                                                                                                                                                                        • …closes £250 bond issue
                                                                                                                                                                                                                                                                                                                          • …reports strong full year profits
                                                                                                                                                                                                                                                                                                                            • …to launch Portas collection
                                                                                                                                                                                                                                                                                                                              • UK: John Lewis
                                                                                                                                                                                                                                                                                                                                • …confirms commitment to NKU
                                                                                                                                                                                                                                                                                                                                  • …sales down
                                                                                                                                                                                                                                                                                                                                    • DIY retailing
                                                                                                                                                                                                                                                                                                                                      • Germany: Hornbach Group reports rising sales
                                                                                                                                                                                                                                                                                                                                        • UK: B&Q opens nine new You Can Do It Centres
                                                                                                                                                                                                                                                                                                                                          • UK: Focus DIY
                                                                                                                                                                                                                                                                                                                                            • …business receiving "fantastic level of interest"
                                                                                                                                                                                                                                                                                                                                              • …stores acquired by Wickes and B&M Bargains revealed
                                                                                                                                                                                                                                                                                                                                                • …to close 120 stores
                                                                                                                                                                                                                                                                                                                                                  • UK: Kingfisher attributes strong first quarter to good weather
                                                                                                                                                                                                                                                                                                                                                    • UK: Topps Tiles reports flat profits and sales
                                                                                                                                                                                                                                                                                                                                                      • UK: Wickes acquires 13 Focus stores for £8.4m
                                                                                                                                                                                                                                                                                                                                                        • Electrical retailing
                                                                                                                                                                                                                                                                                                                                                          • Russian Federation: Eldorado to revamp outlets
                                                                                                                                                                                                                                                                                                                                                            • Russian Federation: M.Video to continue with growth plans
                                                                                                                                                                                                                                                                                                                                                              • Spain: Dixons offloads eight PC City stores
                                                                                                                                                                                                                                                                                                                                                                • UK: Comet
                                                                                                                                                                                                                                                                                                                                                                  • …like-for-like sales fall 15.2%
                                                                                                                                                                                                                                                                                                                                                                    • …‘We’re not closing down’
                                                                                                                                                                                                                                                                                                                                                                      • UK: Dixons
                                                                                                                                                                                                                                                                                                                                                                        • …agrees £59m sale and leaseback deal
                                                                                                                                                                                                                                                                                                                                                                          • …teams up with big brands for service push
                                                                                                                                                                                                                                                                                                                                                                            • …to drive profit through its Knowhow service division
                                                                                                                                                                                                                                                                                                                                                                              • …UK like-for-likes fall
                                                                                                                                                                                                                                                                                                                                                                                • UK: Everything Everywhere opens 30 own name stores
                                                                                                                                                                                                                                                                                                                                                                                  • UK: Jessops opens 2nd Centre of Excellence store
                                                                                                                                                                                                                                                                                                                                                                                    • UK: Kesa considers disposal of Comet
                                                                                                                                                                                                                                                                                                                                                                                      • UK: Maplin sees three directors leave
                                                                                                                                                                                                                                                                                                                                                                                        • Home shopping
                                                                                                                                                                                                                                                                                                                                                                                          • UK: Asos profits up 41%
                                                                                                                                                                                                                                                                                                                                                                                            • UK: Brand Alley seeks £87m to fund growth
                                                                                                                                                                                                                                                                                                                                                                                              • UK: Findel profits fall as turnaround begins
                                                                                                                                                                                                                                                                                                                                                                                                • UK: N Brown reports full year profits rise 5.5%
                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Ocado sales growth slows but first half EBITDA up
                                                                                                                                                                                                                                                                                                                                                                                                    • UK: The Hut acquires Myprotein.com for £58m
                                                                                                                                                                                                                                                                                                                                                                                                      • UK: My-Wardrobe.com like-for-like sales rise 96%
                                                                                                                                                                                                                                                                                                                                                                                                        • Health and beauty retailing
                                                                                                                                                                                                                                                                                                                                                                                                          • Germany: Celesio reports fall in Q1 profits
                                                                                                                                                                                                                                                                                                                                                                                                            • Germany: Rossmann sees full-year double digit growth
                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Alliance Boots sees profits rise
                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Lloyds Pharmacy launches new website
                                                                                                                                                                                                                                                                                                                                                                                                                  • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Clinton Cards reports fall in like-for-like sales
                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: HobbyCraft unveils new store concept
                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Staples to roll out in-store entrepreneurial courses
                                                                                                                                                                                                                                                                                                                                                                                                                          • Sports and leisure goods retailing
                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: American Golf sees sales rise
                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Go Outdoors secures £30m credit facility to fund expansion
                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: JD Sports like-for-likes fall, but in line with expectations
                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: JJB warns turnaround could take five year as losses triple
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Jewellers
                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Signet
                                                                                                                                                                                                                                                                                                                                                                                                                                        • …considers sale of UK arm
                                                                                                                                                                                                                                                                                                                                                                                                                                          • …insists it will continue to invest in UK
                                                                                                                                                                                                                                                                                                                                                                                                                                            • …UK like-for-likes remain flat
                                                                                                                                                                                                                                                                                                                                                                                                                                              • Toys and games retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Disney Store makes sharp cut in losses
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Early Learning Centre launches new mobile website
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: BRC
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • …says UK consumers lack optimism
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • …Like-for-like sales fall 2.1% in May
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • …responsible retailing guide for kisdwear sees retailers sign up
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: British Land to begin new developments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Capital Shopping Centres plans expansion as footfall grows
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: CPI annual inflation rise to highest level in 2.5 years
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Food inflation at highest level in two years
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Hard discounters and Waitrose post strong growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Like-for-like sales rise 5.2% in April
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Retail sales rise 6.2% in April
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Suit prices to rise by 10% as wool prices reach record high
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Westfield London sales grow 19.8% in Q1

                                                                                                                                                                                                                                                                                                                                                                                                                                                                              European Retail Briefing - June 2011

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