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European Retail Briefing - November 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

    • European retailers hoping for a Merry Christmas
      • What we’ve seen
        • Consumer confidence
          • Figure 1: Comparison of consumer confidence in the major European economies, January 2007-October 2011
        • Germany
          • Figure 2: Non-seasonally adjusted real terms retail sales growth, January 2010-September 2011
        • France
          • Figure 3: Non-seasonally adjusted real terms retail sales growth, January 2010-August 2011
        • UK
          • Figure 4: Non-seasonally adjusted real terms retail sales growth, January 2010-October 2011
        • Italy
          • Figure 5: Non-seasonally adjusted real terms retail sales growth, January 2010-August 2011
        • Spain
          • Figure 6: Non-seasonally adjusted real terms retail sales growth, January 2010-September 2011
        • What it means
        • Retail Sales Review

          • Key points
            • France
              • Figure 7: France: Retail sales trends, 2010-11
            • Inflation
              • Figure 8: France: Inflation, 2010-11
            • Germany
              • Figure 9: Germany: Retail sales trends, 2010-11
            • Inflation
              • Figure 10: Germany: Inflation, 2010-11
            • Italy
              • Figure 11: Italy: Retail sales trends, 2010-11
            • Inflation
              • Figure 12: Italy: Inflation, 2010-11
            • Netherlands
              • Figure 13: The Netherlands: Retail sales trends, 2010-11
            • Inflation
              • Figure 14: The Netherlands: Inflation, 2010-11
            • Spain
              • Figure 15: Spain: Retail sales trends, 2010-11
            • Inflation
              • Figure 16: Spain: Inflation, 2010-11
            • UK
              • Figure 17: Retail sales trends, 2010-11
            • Inflation
              • Figure 18: UK: Annual percentage change in Consumer Price Index for selected product groups, 2010-11
          • Headlines for the Month

            • Grocers
              • Clothing retailers
                • Footwear retailing
                  • Multi-sector retailing
                    • Department stores
                      • DIY retailing
                        • Electricals retailing
                          • Furniture retailing
                            • Home shopping
                              • Health and beauty retailing
                              • News Analysis

                                • Grocers
                                  • Bulgaria: Delhaize to expand Piccadilly chain
                                    • France: Carrefour cuts profits forecast again
                                      • France: Casino
                                        • …in C-store deal with Post Office
                                          • …opens Cdiscount Outlet in Paris
                                            • …reveals strong Q3 growth
                                              • France: Leclerc unveils ethical label
                                                • Germany: Aldi Nord to remodel itself
                                                  • Germany: Lidl changes criteria for expansion in Germany
                                                    • Germany: Penny to shut local stores
                                                      • Hungary: Aldi reveals short-term expansion plans
                                                        • Italy: Billa Italia sold
                                                          • Netherlands: Spar opens in the Middle East
                                                            • Portugal: Continente and Worten lead retail ranks
                                                              • Portugal: Jeronimo Martins Q3 profit up 21%
                                                                • Romania: Delhaize rebrands all Red Market outlets
                                                                  • Russian Federation: X5 Retail cuts forecast despite Q3 rise
                                                                    • Spain: Eroski to add franchise outlets
                                                                      • Sweden: Ahold names new CEO at ICA
                                                                        • UK: Morrisons, Waitrose and the discounters lead market share rises
                                                                          • UK: Asda and Morrisons cut pricing as grocery war continues
                                                                            • UK: Asda Income Tracker: Families £15 a week worse off in September
                                                                              • UK: Asda
                                                                                • …£5 'thank you' offer hailed success
                                                                                  • …outperforms market for first time since 2009
                                                                                    • …partners Farmfoods for Iceland bid
                                                                                      • …partners with cookery school Leiths
                                                                                        • …price war to target Argos next
                                                                                          • …reviews the future of four Living stores
                                                                                            • UK: Booths
                                                                                              • …eyes 10 new stores in Northwest
                                                                                                • …reveals flat sales
                                                                                                  • UK: Iceland
                                                                                                    • …bids fall short of asking price
                                                                                                      • …chief in talks with Blackstone over bid
                                                                                                        • UK: Morrisons
                                                                                                          • …ad banned for encouraging pester power
                                                                                                            • …like-for-likes rise 2.4%
                                                                                                              • …uses pop-up restaurant to trial M Kitchen range
                                                                                                                • UK: Sainsbury's
                                                                                                                  • …acquires online entertainment business
                                                                                                                    • …launches 20 by 20 scheme
                                                                                                                      • …profits rise
                                                                                                                        • …reveals paralympics branding
                                                                                                                          • …to extend Brand Match across UK
                                                                                                                            • UK: Tesco
                                                                                                                              • …Big Price Drop claimed to be misleading
                                                                                                                                • …former boss returns with bid for supplier
                                                                                                                                  • …incurs the wrath of hairdressers
                                                                                                                                    • …launches in-store beauty boutiques
                                                                                                                                      • …launches second Big Clubcard Voucher Exchange
                                                                                                                                        • …to launch beauty offer online
                                                                                                                                          • UK: The Co-op plans to launch online
                                                                                                                                            • UK: Waitrose
                                                                                                                                              • …introduces loyalty card
                                                                                                                                                • …to install self-service in stores
                                                                                                                                                  • Food specialists
                                                                                                                                                    • UK: Greggs to trial motorway services
                                                                                                                                                      • UK: Thorntons FD to leave company
                                                                                                                                                        • Off-licences
                                                                                                                                                          • UK: Adnams increases retail offering with 2 new stores
                                                                                                                                                            • UK: Oddbins plots comeback strategy
                                                                                                                                                              • Clothing retailing
                                                                                                                                                                • France: PPR to acquire menswear brand Brioni
                                                                                                                                                                  • Germany: Puma reports strong Q3
                                                                                                                                                                    • Spain: Abercrombie & Fitch to open Spanish store
                                                                                                                                                                      • Sweden: H&M like-for-like sales fall 7%
                                                                                                                                                                        • UK: Alexon to rebrand as Irisa Group
                                                                                                                                                                          • UK: All Saints full year profits fall
                                                                                                                                                                            • UK: Aurora launches first multi-brand international website
                                                                                                                                                                              • UK: Austin Reed sees losses widen
                                                                                                                                                                                • UK: Bastyan to open in West End
                                                                                                                                                                                  • UK: Bonmarché to expand internationally
                                                                                                                                                                                    • UK: Burberry sales up 30%
                                                                                                                                                                                      • UK: H&M brands Monki and Cheap Monday open first UK standalones
                                                                                                                                                                                        • UK: Hobbs profits rise on record sales
                                                                                                                                                                                          • UK: Jack Wills sees profits rise as it focuses on US expansion
                                                                                                                                                                                            • UK: Jaeger launches first menswear standalone store
                                                                                                                                                                                              • UK: Karen Millen to expand in China
                                                                                                                                                                                                • UK: La Senza to open four stores in October
                                                                                                                                                                                                  • UK: M&Co builds wind turbine to power stores
                                                                                                                                                                                                    • UK: Matalan
                                                                                                                                                                                                      • …downgraded
                                                                                                                                                                                                        • …remains cautious after falling profits
                                                                                                                                                                                                          • UK: Mothercare chief executive to leave
                                                                                                                                                                                                            • UK: Next Directory Q3 sales offset weak store sales
                                                                                                                                                                                                              • UK: Primark
                                                                                                                                                                                                                • …launches in Selfridges
                                                                                                                                                                                                                  • …launches new flagship in Metrocentre
                                                                                                                                                                                                                    • …profits fall 8%
                                                                                                                                                                                                                      • UK: River Island
                                                                                                                                                                                                                        • …launches international shipping
                                                                                                                                                                                                                          • …to open first accessories-only store
                                                                                                                                                                                                                            • UK: SuperGroup sales slow with warehouse glitch
                                                                                                                                                                                                                              • UK: Topshop to launch mobile site as mobile sales rise
                                                                                                                                                                                                                                • UK: USC puts third of stores up for sale
                                                                                                                                                                                                                                  • Footwear retailing
                                                                                                                                                                                                                                    • UK: Clarks' profits fall due to rising costs and promos
                                                                                                                                                                                                                                      • UK: Jones plans click and collect service
                                                                                                                                                                                                                                        • UK: Kurt Geiger reports rising EBITDA
                                                                                                                                                                                                                                          • Multi-sector retailing
                                                                                                                                                                                                                                            • France: LVMH reports 18% rise in sales
                                                                                                                                                                                                                                              • France: Marks & Spencer launch French site
                                                                                                                                                                                                                                                • Germany: Metro Group
                                                                                                                                                                                                                                                  • …boss to exit next year
                                                                                                                                                                                                                                                    • …hit by another departure
                                                                                                                                                                                                                                                      • …reports increased earnings
                                                                                                                                                                                                                                                        • …suspends Media Markt’s chief
                                                                                                                                                                                                                                                          • UK: Marks & Spencer half-year profits fall
                                                                                                                                                                                                                                                            • UK: Home Retail profits dragged down by Argos again
                                                                                                                                                                                                                                                              • Mixed goods retailing
                                                                                                                                                                                                                                                                • UK: Argos
                                                                                                                                                                                                                                                                  • …launches kidswear range with Emma Bunton
                                                                                                                                                                                                                                                                    • …launches TV shopping on Freesat
                                                                                                                                                                                                                                                                      • UK: 99p Stores reopens former Hub store
                                                                                                                                                                                                                                                                        • UK: Poundland
                                                                                                                                                                                                                                                                          • …-owner eyes Nordic counterpart
                                                                                                                                                                                                                                                                            • …profit up
                                                                                                                                                                                                                                                                              • UK: Poundstretcher sees profit after six years
                                                                                                                                                                                                                                                                                • UK: Wilkinson launch premium range
                                                                                                                                                                                                                                                                                  • UK: Home Bargain profits rise
                                                                                                                                                                                                                                                                                    • Miscellaneous specialists
                                                                                                                                                                                                                                                                                      • UK: Halfords profits fall 20%
                                                                                                                                                                                                                                                                                        • UK: Jollyes profits up
                                                                                                                                                                                                                                                                                          • UK: Kiddicare plans superstore roll-out
                                                                                                                                                                                                                                                                                            • UK: The White Company opens its first travel shop
                                                                                                                                                                                                                                                                                              • UK: Mothercare chief executive to leave
                                                                                                                                                                                                                                                                                                • Department stores
                                                                                                                                                                                                                                                                                                  • Germany: Kaufhof receives bid from shipping investor according to reports
                                                                                                                                                                                                                                                                                                    • UK: Debenhams
                                                                                                                                                                                                                                                                                                      • …acquires Bhs managing director
                                                                                                                                                                                                                                                                                                        • …launches its first catalogue to drive online sales
                                                                                                                                                                                                                                                                                                          • …profits rise 10%
                                                                                                                                                                                                                                                                                                            • UK: Fenwick reports pre-tax profit rise
                                                                                                                                                                                                                                                                                                              • UK: Harrods passes £1bn sales barrier
                                                                                                                                                                                                                                                                                                                • UK: House of Fraser launches .com store
                                                                                                                                                                                                                                                                                                                  • UK: John Lewis
                                                                                                                                                                                                                                                                                                                    • …launches £6m Christmas campaign
                                                                                                                                                                                                                                                                                                                      • …launches 'Made in UK' product push
                                                                                                                                                                                                                                                                                                                        • …opts out of regeneration scheme
                                                                                                                                                                                                                                                                                                                          • UK: Liberty first half sales rise as it plans major revamp
                                                                                                                                                                                                                                                                                                                            • DIY retailing
                                                                                                                                                                                                                                                                                                                              • Germany: Praktiker
                                                                                                                                                                                                                                                                                                                                • …posts €26m Q3 net loss
                                                                                                                                                                                                                                                                                                                                  • …reveals revenues fall
                                                                                                                                                                                                                                                                                                                                    • UK: Robert Dyas sale put on hold until after Christmas
                                                                                                                                                                                                                                                                                                                                      • UK: Wickes like-for-likes fall 2%
                                                                                                                                                                                                                                                                                                                                        • Electricals retailing
                                                                                                                                                                                                                                                                                                                                          • Switzerland: Metro's Media-Saturn plans web-shop
                                                                                                                                                                                                                                                                                                                                            • UK: Best Buy UK to close big box stores
                                                                                                                                                                                                                                                                                                                                              • UK: BrightHouse profits up 22%
                                                                                                                                                                                                                                                                                                                                                • UK: Comet
                                                                                                                                                                                                                                                                                                                                                  • …could see Peter Jones join as chairman
                                                                                                                                                                                                                                                                                                                                                    • …sold for £2
                                                                                                                                                                                                                                                                                                                                                      • UK: Richer Sounds beats high street squeeze
                                                                                                                                                                                                                                                                                                                                                        • Music and video goods retailing
                                                                                                                                                                                                                                                                                                                                                          • UK: Blockbuster UK reports falling profits
                                                                                                                                                                                                                                                                                                                                                            • UK: Game launches new payment system
                                                                                                                                                                                                                                                                                                                                                              • Furniture retailing
                                                                                                                                                                                                                                                                                                                                                                • Sweden: Ikea to stop stocking branded foods
                                                                                                                                                                                                                                                                                                                                                                  • UK: Carpetright sales continue to fall
                                                                                                                                                                                                                                                                                                                                                                    • UK: DFS profits rise 11.4% as sales fall
                                                                                                                                                                                                                                                                                                                                                                      • UK: Multiyork chairman and CEO to exit
                                                                                                                                                                                                                                                                                                                                                                        • UK: Mydeco.com to launch transactional site
                                                                                                                                                                                                                                                                                                                                                                          • UK: The Range revamps website
                                                                                                                                                                                                                                                                                                                                                                            • Home shopping
                                                                                                                                                                                                                                                                                                                                                                              • Norway: Komplett reports rising sales
                                                                                                                                                                                                                                                                                                                                                                                • UK: Amazon
                                                                                                                                                                                                                                                                                                                                                                                  • …given go-ahead by OFT for Book Depository acquisition
                                                                                                                                                                                                                                                                                                                                                                                    • …Black Friday campaign is back
                                                                                                                                                                                                                                                                                                                                                                                      • UK: Asos
                                                                                                                                                                                                                                                                                                                                                                                        • …half year profits up 66%
                                                                                                                                                                                                                                                                                                                                                                                          • …reports slowing UK growth
                                                                                                                                                                                                                                                                                                                                                                                            • …sales affected by high street bargains
                                                                                                                                                                                                                                                                                                                                                                                              • UK: BrandAlley reports rising sales
                                                                                                                                                                                                                                                                                                                                                                                                • UK: Chain Reaction seeks out-of-town locations in UK
                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Ebay predicts surge in m-commerce sales
                                                                                                                                                                                                                                                                                                                                                                                                    • UK: N Brown reports rising profits but warns of consumer wariness
                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Ocado
                                                                                                                                                                                                                                                                                                                                                                                                        • …profit margins 'could beat big four mults'
                                                                                                                                                                                                                                                                                                                                                                                                          • …to launch savings pass card as shoppers look for bargains
                                                                                                                                                                                                                                                                                                                                                                                                            • UK: QVC opens pop-up in London
                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Shop Direct
                                                                                                                                                                                                                                                                                                                                                                                                                • …hires former Clarks finance director
                                                                                                                                                                                                                                                                                                                                                                                                                  • …plans to launch Very overseas
                                                                                                                                                                                                                                                                                                                                                                                                                    • …sets up discount website
                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Wiggle to appoint UBS ahead of potential float
                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Feelunique.com reports rising sales
                                                                                                                                                                                                                                                                                                                                                                                                                          • Health and beauty retailing
                                                                                                                                                                                                                                                                                                                                                                                                                            • Germany: Celesio CFO to resign
                                                                                                                                                                                                                                                                                                                                                                                                                              • Germany: Schlecker expects further losses
                                                                                                                                                                                                                                                                                                                                                                                                                                • Russian Federation: Pharmacy 36.6 reports wider first half loss
                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Alliance Boots
                                                                                                                                                                                                                                                                                                                                                                                                                                    • …considers acquisition of care firm
                                                                                                                                                                                                                                                                                                                                                                                                                                      • …first half sales rise
                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Lush considers London for biggest ever store
                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Primark launches new flagship in Metrocentre
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Clintons suffers profit loss
                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: WH Smith
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …like-for-like fall
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …reports higher profits from travel performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Sports and leisure goods retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Blacks like-for-likes fall
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: JJB reports falling profits
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Sports Direct reports rising profits
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Jewellers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Watches of Switzerland launches transactional website
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Toys and games retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Toys R Us
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • …prepares for Christmas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • …sees profits fall at end of year
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Germany: German retail sales rise slightly
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: BRC
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • …calls on Chancellor to tackle 2012 business rates in pre-Budget statement
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • …October retail like-for-likes fall 0.6%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • …Retail sales improve marginally in September
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Consumer confidence falls in October
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Food prices in Britain rise by second most in EU
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Inflation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • …falls due to supermarket price wars
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • …rises to three-year high
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Online grocery market to double in five years
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Online retail searches rise 35% in Q3
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: ONS: Retail sales rise 5.4% in value in September
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Scottish retail sales improve slightly in September
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Westfield Group plans third London shopping centre
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Capital Shopping Centres warns of slow growth
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Clothing Retailing in Europe

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • H&M Hennes & Mauritz
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 19: H&M Hennes & Mauritz: European sales as share of clothing specialists’ sales in Europe, 2006-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Strategic evaluation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Recent history
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Financial performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 20: H&M Hennes & Mauritz: Group financial performance, 2005/06-2009/10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • First half 2010/11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Store portfolio
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 21: H&M Hennes & Mauritz: Outlet data, 2005/06-2009/10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • e-commerce

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    European Retail Briefing - November 2011

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