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European Retail Briefing - June 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

    • Assessing consumer confidence and retail sales amid the Eurozone crisis
      • Consumer confidence
          • Figure 1: Europe: Consumer confidence: Leading countries (ranked by May 2012), April-May 2012
          • Figure 2: Europe: Consumer confidence: Lagging countries (ranked by May 2012), April-May 2012
        • Retail sales
            • Figure 3: Europe: Year-on-year total retail sales growth: Leading countries (ranked by March 2012), March-April 2012
            • Figure 4: Europe: Year-on-year total retail sales growth: Lagging countries (ranked by March 2012), March-April 2012
          • Bringing confidence and growth together
            • Figure 5: Europe: Year-on-year retail sales growth versus consumer confidence levels, March 2012
          • Retail trade confidence
            • Figure 6: Europe: Retail trade confidence: Leading countries (ranked by May 2012), April-May 2012
            • Figure 7: Europe: Retail trade confidence: Lagging countries (ranked by May 2012), April-May 2012
          • What does this mean?
          • Headlines for the Month

            • Grocers
              • Clothing retailing
                • Footwear retailing
                  • Multi-sector retailing
                    • Miscellaneous specialists
                      • Department stores
                        • DIY retailing
                          • Electrical goods retailing
                            • Music retailing
                              • Furniture retailing
                                • Home shopping
                                  • Health and beauty retailing
                                    • Books and stationery retailing
                                      • Sports and leisure goods retailing
                                        • Jewellers
                                          • Economy
                                          • Retail Sales Review

                                            • Key points
                                              • France
                                                • Figure 8: France: Retail sales, 2011-12
                                              • Inflation
                                                • Figure 9: France: Inflation, 2011-12
                                              • Germany
                                                • Figure 10: Germany: Retail sales trends, 2011-12
                                              • Inflation
                                                • Figure 11: Germany: Inflation, 2011-12
                                              • Italy
                                                • Figure 12: Italy: Retail sales trends, 2011-12
                                              • Inflation
                                                • Figure 13: Italy: Inflation, 2011-12
                                              • Netherlands
                                                • Figure 14: The Netherlands: Retail sales trends, 2011-12
                                              • Inflation
                                                • Figure 15: The Netherlands: Inflation, 2011-12
                                              • Spain
                                                • Figure 16: Spain: Retail sales trends, 2011-12
                                              • Inflation
                                                • Figure 17: Spain: Inflation, 2011-12
                                              • UK
                                                • Figure 18: UK: Retail sales trends, 2011-12
                                              • Inflation
                                                • Figure 19: UK: Inflation, 2011-12
                                            • News Analysis

                                              • Grocers
                                                • Europe: Musgrave Group
                                                  • …reports falling profits
                                                    • …seeks click-and-collect partnership
                                                      • France: Carrefour
                                                        • …bid for Guyenne approved
                                                          • …chief exits early
                                                            • France: Intermarché reports a 3.1% increase in turnover
                                                              • France: Systeme U acquires Schlecker
                                                                • Germany: Aldi Nord looks to modernize in two years
                                                                  • Germany: Rewe Group reports increased turnover in Q1
                                                                    • Iceland: Iceland set to open stores in Iceland
                                                                      • Netherlands: Ahold reports 1.9% increase in sales
                                                                        • Spain: Eroski reports another full year loss
                                                                          • UK: Asda
                                                                            • …aims to double mobile sales
                                                                              • …like-for-likes rose 2.2% in Q1
                                                                                • …George trials new store format
                                                                                  • …targets online growth and acquires supply chain GAAT
                                                                                    • UK: Co-op to close two distribution centres within the next year
                                                                                      • UK: Discounters grow while Tesco and Morrisons lose
                                                                                        • UK: Morrisons
                                                                                          • …expansion south begins
                                                                                            • …has completed in-store bakery revamp
                                                                                              • …may target South East with online grocery site
                                                                                                • UK: Sainsbury's launches mobile grocery site
                                                                                                  • UK: Tesco
                                                                                                    • …launch new online portal for suppliers
                                                                                                      • …launches online delivery system
                                                                                                        • …plans to bring back Clubcard Exchange promotion
                                                                                                          • …revamps ready meal range
                                                                                                            • …to expect a fall in Q1 UK sales
                                                                                                              • …to launch F&F pop-up shop
                                                                                                                • UK: Whole Foods Market opens a new store in Piccadilly Circus
                                                                                                                  • Food specialists
                                                                                                                    • UK: Greggs sales fall in wet weather
                                                                                                                      • Clothing retailing
                                                                                                                        • France: Levi's opens new flagship store in Paris
                                                                                                                          • Spain: Michael Kors opens in Madrid
                                                                                                                            • UK: Aquascutum
                                                                                                                              • …acquired by YGM Trading for £15 million
                                                                                                                                • …design director to leave role
                                                                                                                                  • UK: Aurora partner with PayPal to launch inStore payment app
                                                                                                                                    • UK: Base aims to become ‘first-class kidswear store’
                                                                                                                                      • UK: Bonmarché to launch collect-from-store service
                                                                                                                                        • UK: Bosideng to open first UK store
                                                                                                                                          • UK: Burberry
                                                                                                                                            • …consider phased opening of new London flagship
                                                                                                                                              • …full-year profits rise
                                                                                                                                                • UK: French Connection reports falling profits
                                                                                                                                                  • UK: H&M to launch pop-up sports shops for summer 2012
                                                                                                                                                    • UK: Hobbs reports strong full year results
                                                                                                                                                      • UK: Irisa staff in consultation after relocation to Jacques Vert offices is considered
                                                                                                                                                        • UK: Jaeger hires Better Capital to focus on the customer experience
                                                                                                                                                          • UK: JD looks to buy One True Saxon
                                                                                                                                                            • UK: McArthurGlen beats the high street with a 16% increase in sales
                                                                                                                                                              • UK: McCartney opens first Adidas by Stella McCartney store
                                                                                                                                                                • UK: Mini Velvet hopes to triple standalone store count
                                                                                                                                                                  • UK: Monsoon Accessorize on lookout for new chief
                                                                                                                                                                    • UK: Montique to debut in the UK
                                                                                                                                                                      • UK: Moss Bros sees boosted like-for-likes
                                                                                                                                                                        • UK: New Look close to deal on debt terms
                                                                                                                                                                          • UK: Phase Eight enjoys boost in pre-tax profit and turnover
                                                                                                                                                                            • UK: Reiss introduces iPads to drive sales
                                                                                                                                                                              • UK: SuperGroup
                                                                                                                                                                                • …considers overseas flagship
                                                                                                                                                                                  • …sales boosted, but like-for-likes are disappointing
                                                                                                                                                                                    • UK: Topshop to launch eco-friendly capsule collection
                                                                                                                                                                                      • UK: Victoria's Secret set to debut in the UK with 2 store openings
                                                                                                                                                                                        • Footwear retailing
                                                                                                                                                                                          • France: Schuh launches French website
                                                                                                                                                                                            • Italy: Salvatore Ferragamo reports boost in profits
                                                                                                                                                                                              • UK: Clarks reports a fall in pre-tax profit
                                                                                                                                                                                                • UK: Kurt Geiger enters exclusive distribution deal with Vince Camuto
                                                                                                                                                                                                  • UK: LK Bennett secures funding for expansion in US
                                                                                                                                                                                                    • UK: Tod's first quarter revenues rise
                                                                                                                                                                                                      • Multi-sector retailing
                                                                                                                                                                                                        • UK: Booker to acquire Metro's Makro UK
                                                                                                                                                                                                          • UK: Marks and Spencer
                                                                                                                                                                                                            • …launches Simply M&S food range
                                                                                                                                                                                                              • …reports falling profits and store revamp strategy
                                                                                                                                                                                                                • …to open its own bank
                                                                                                                                                                                                                  • Mixed goods retailing
                                                                                                                                                                                                                    • UK: Poundland
                                                                                                                                                                                                                      • …launches mobile app
                                                                                                                                                                                                                        • …launches wholesale website
                                                                                                                                                                                                                          • Miscellaneous specialists
                                                                                                                                                                                                                            • UK: Mothercare new boss says it will take 3 years to turn business around
                                                                                                                                                                                                                              • UK: Robert Dyas attracts interest from three parties
                                                                                                                                                                                                                                • UK: Wilkinson’s chief executive to leave
                                                                                                                                                                                                                                  • Department stores
                                                                                                                                                                                                                                    • UK: Debenhams begins summer discounting
                                                                                                                                                                                                                                      • UK: House of Fraser
                                                                                                                                                                                                                                        • …receives interest in stake share
                                                                                                                                                                                                                                          • …reports growth in profits, but decline in EBITDA
                                                                                                                                                                                                                                            • …to introduce 11 upmarket brands
                                                                                                                                                                                                                                              • …to launch World of Shoes at Oxford Street store
                                                                                                                                                                                                                                                • UK: John Lewis reports strong first quarter
                                                                                                                                                                                                                                                  • DIY retailing
                                                                                                                                                                                                                                                    • Germany: Hornbach meets growth targets again
                                                                                                                                                                                                                                                      • Germany: Praktiker stores to be renamed Max Bahr
                                                                                                                                                                                                                                                        • UK: B&Q investing £69 million on product range improvements
                                                                                                                                                                                                                                                          • UK: Kingfisher reports fall in Q1 profits
                                                                                                                                                                                                                                                            • UK: Topps Tiles reports fall in pre-tax profits in first half
                                                                                                                                                                                                                                                              • UK: Wickes sees sales slow due to wet weather conditions
                                                                                                                                                                                                                                                                • Electrical retailing
                                                                                                                                                                                                                                                                  • UK: Cecil Jacobs falls into administration
                                                                                                                                                                                                                                                                    • UK: Dixons
                                                                                                                                                                                                                                                                      • …extends £300 million credit facility
                                                                                                                                                                                                                                                                        • …receives £10 million investment from Canon
                                                                                                                                                                                                                                                                          • …reports boost in sales and EBITDA
                                                                                                                                                                                                                                                                            • UK: Kesa reports falling profits in Q4
                                                                                                                                                                                                                                                                              • Music retailing
                                                                                                                                                                                                                                                                                • UK: AEG is favourite to acquire HMV Live
                                                                                                                                                                                                                                                                                  • UK: Digital music downloads overtake physical sales
                                                                                                                                                                                                                                                                                    • UK: HMV
                                                                                                                                                                                                                                                                                      • …partners Ticketmaster
                                                                                                                                                                                                                                                                                        • …receives £32 million for Hammersmith Apollo
                                                                                                                                                                                                                                                                                          • Carpet retailing
                                                                                                                                                                                                                                                                                            • UK: Carpetright appoints new chief executive
                                                                                                                                                                                                                                                                                              • Furniture retailing
                                                                                                                                                                                                                                                                                                • UK: Bathstore bought for £15 million
                                                                                                                                                                                                                                                                                                  • UK: CSL Sofas launches augmented reality iPhone app
                                                                                                                                                                                                                                                                                                    • UK: DFS opens first high-street store on Tottenham Court Road
                                                                                                                                                                                                                                                                                                      • UK: Dwell seeks to expand store count by 100
                                                                                                                                                                                                                                                                                                        • UK: Multiyork widens offer with entry-level range
                                                                                                                                                                                                                                                                                                          • UK: Oak Furniture Land plans to expand store numbers
                                                                                                                                                                                                                                                                                                            • Home shopping
                                                                                                                                                                                                                                                                                                              • The Netherlands: Aurora Fashions to replace concessions with e-commerce site
                                                                                                                                                                                                                                                                                                                • UK Asos
                                                                                                                                                                                                                                                                                                                  • …reports "strong" full year
                                                                                                                                                                                                                                                                                                                    • UK: Brand Alley launches new Outlet channel
                                                                                                                                                                                                                                                                                                                      • UK: Ebay Fashion launches colour matching app
                                                                                                                                                                                                                                                                                                                        • UK: Feelunique.com to revamp website
                                                                                                                                                                                                                                                                                                                          • UK: Flying Brands sales fall as it continues to look for buyer
                                                                                                                                                                                                                                                                                                                            • UK: Kiddicare's focus on loyal customers boosts online sales by 20%
                                                                                                                                                                                                                                                                                                                              • UK: Mamas & Papas to expand online presence through Amazon and Tesco
                                                                                                                                                                                                                                                                                                                                • UK: Moonpig founder acquires stake in menswear etailer
                                                                                                                                                                                                                                                                                                                                  • UK: Ocado
                                                                                                                                                                                                                                                                                                                                    • …introduces own label webshop
                                                                                                                                                                                                                                                                                                                                      • …introduces video-game software to increase efficiency
                                                                                                                                                                                                                                                                                                                                        • UK: Occa receives investment from Asos backer
                                                                                                                                                                                                                                                                                                                                          • UK: Shop Direct
                                                                                                                                                                                                                                                                                                                                            • …outsources customer service operations
                                                                                                                                                                                                                                                                                                                                              • …sign a further 10 year warehousing contract with Norbert Dentressangle
                                                                                                                                                                                                                                                                                                                                                • Germany: Celesio reports rise in Q1 profits
                                                                                                                                                                                                                                                                                                                                                  • Russian Federation: Pharmacy chain 36.6 reports strong full year growth
                                                                                                                                                                                                                                                                                                                                                    • UK: Alliance Boots reports rising trading profit
                                                                                                                                                                                                                                                                                                                                                      • UK: Boots to launch new food range
                                                                                                                                                                                                                                                                                                                                                        • UK: Superdrug considers localising its product offering
                                                                                                                                                                                                                                                                                                                                                          • UK: The Fragrance Shop reports 24% boost in EBITDA
                                                                                                                                                                                                                                                                                                                                                            • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                                                              • UK: Clinton Cards
                                                                                                                                                                                                                                                                                                                                                                • …reveals 44 store to close
                                                                                                                                                                                                                                                                                                                                                                  • …to close 350 stores as Birthdays exits high street
                                                                                                                                                                                                                                                                                                                                                                    • …to have up to 400 stores acquired by American Greetings
                                                                                                                                                                                                                                                                                                                                                                      • UK: Waterstones signs deal to sell Amazon Kindle
                                                                                                                                                                                                                                                                                                                                                                        • Iceland: Sports Direct to open in Iceland
                                                                                                                                                                                                                                                                                                                                                                          • UK: Halfords reports declining pre-tax profit in last fiscal year
                                                                                                                                                                                                                                                                                                                                                                            • UK: JD looks to buy One True Saxon
                                                                                                                                                                                                                                                                                                                                                                              • UK: JJB new store format has Nike's support
                                                                                                                                                                                                                                                                                                                                                                                • UK: Snow + Rock report decline in profits
                                                                                                                                                                                                                                                                                                                                                                                  • Jewellers
                                                                                                                                                                                                                                                                                                                                                                                    • Switzerland: Richemont reports full year sales rise
                                                                                                                                                                                                                                                                                                                                                                                      • UK: Pixmania launches jewellery range
                                                                                                                                                                                                                                                                                                                                                                                        • UK: Signet UK sees moderate sales rise
                                                                                                                                                                                                                                                                                                                                                                                          • Toys and games retailing
                                                                                                                                                                                                                                                                                                                                                                                            • UK: The Entertainer wins sales as sector rivals close down
                                                                                                                                                                                                                                                                                                                                                                                              • Economy
                                                                                                                                                                                                                                                                                                                                                                                                • Germany: German retail sales down 3.8% in April
                                                                                                                                                                                                                                                                                                                                                                                                  • UK: April Scottish retail sales affected by wet weather
                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Footfall falls 2% in Q1
                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Government makes changes to pasty tax
                                                                                                                                                                                                                                                                                                                                                                                                        • …retail sales values slow in April
                                                                                                                                                                                                                                                                                                                                                                                                          • …RPI stands at 3.5% in April
                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Shop inflation increases to 1.5%, but food inflation stabilises
                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Warm weather boosts like-for-like sales in May
                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Westfield London sales up 2.2% in Q1
                                                                                                                                                                                                                                                                                                                                                                                                                • Electrical Retailing in Europe – Fnac

                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 20: Fnac Europe: Sales as share of electrical specialists’ sales in Europe, 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                  • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                    • Background
                                                                                                                                                                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 21: Fnac: Group financial performance, 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 22: Fnac: Sales by product category, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 23: Fnac: Outlet data, 2006-11*
                                                                                                                                                                                                                                                                                                                                                                                                                      • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                        • e-commerce and home shopping

                                                                                                                                                                                                                                                                                                                                                                                                                        European Retail Briefing - June 2012

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