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UK Retail Briefing - February 2015

Each month Mintel’s UK Retail Briefing concentrates on a particular sector or market. This month’s focus is on DIY and Furniture retailing.

This sector focus looks at:

  • Growth of the furniture retail sector tracked against inflation
  • Furniture & DIY specialists sector sales, 2013-15
  • Impact of the growth in the housing market
  • Recent developments within the furniture retail sector.
  • We also include an Analyst's Comment looking at the online retailing sector.

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Table of contents

  1. Analyst Comment

    • Online – Trying to get a sense of proportion
      • 1. Is it necessary to have an online offer?
        • 2. The corollary
          • 3. Drawbacks
            • The elephant in the room
            • Retail Sales – Background and Outlook

              • Key points
                • Retail sales trends
                  • Figure 1: Retail sales trends, 2014/15
                  • Figure 2: UK retail sales y/y growth, BRC vs ONS, 2013-15
                • John Lewis
                  • Figure 3: John Lewis: Year-on-year growth, 2014
                • Inflation and wages
                  • Figure 4: The income squeeze: Wages growth vs inflation, 2009-14
                  • Figure 5: Annual percentage change in the consumer price index for selected product groups, 2014
                • Looking forward
                • Sector Focus – DIY and Furniture Retailing

                  • Key points
                    • Retail sales: A good year for both categories
                      • Figure 6: DIY and hardware specialists’ sector sales: Annual % change, January 2013-January 2015
                      • Figure 7: Furniture and lighting specialists’ sector sales: annual% change, January 2013-January 2015
                    • Record levels of low inflation
                      • Figure 8: Annual% change in consumer price index for furniture, household equipment & routine maintenance and overall CPI, January 2014- January 2015
                    • Housing market continues to improve
                      • Figure 9: Number of UK residential property transactions, non-seasonally adjusted, January 2013-December 2014
                    • Furniture news analysis
                      • Sofa retailers head to the market
                        • Sofa.com acquired
                          • New 200-store floorings chain to launch in summer 2015
                          • Headlines for the Month

                            • Grocers
                              • Other food specialists
                                • Clothing retailing
                                  • Footwear retailing
                                    • Department stores
                                      • Multi-sector retailing
                                        • Electrical retailing
                                          • Music and video goods retailing
                                            • Furniture and DIY retailing
                                              • Home shopping
                                                • Book and stationery retailing
                                                  • Economy
                                                  • News Analysis – Food and Drink

                                                    • Convenience stores
                                                      • UK: Booker to expand its Family Shopper banner
                                                        • UK: Conviviality Retail purchases all GT News stores
                                                          • UK: McColl’s posts ‘resilient’ Christmas sales
                                                            • UK: Scotmid reveals first ‘food to go’ outlet
                                                              • UK: Spar UK sales up 5%
                                                                • Grocers
                                                                  • UK: Aldi to open 70 new stores in 2015
                                                                    • UK: Asda
                                                                      • …chief announces changes to executive team
                                                                        • …prepared to invest £170m in superstores
                                                                          • ...teams up with Timpson Dry Cleaners
                                                                            • UK: Budgens unveils new concept for smaller stores
                                                                              • UK: Grocery market grows over Christmas
                                                                                • UK: Lidl sales up 20% over Christmas
                                                                                  • UK: Morrisons
                                                                                    • …CEO steps down as sales fall
                                                                                      • …considers appointing David Potts
                                                                                        • …like-for-likes fall 3.1% during the Christmas period
                                                                                          • …to sell three stores for £100m
                                                                                            • …to close salary-linked pension schemes
                                                                                              • UK: Sainsbury’s to cut 500 jobs
                                                                                                • UK: Tesco
                                                                                                  • …appoints two agencies
                                                                                                    • …CIO leaves for Target
                                                                                                      • …close to Blinkbox Music sale
                                                                                                        • …creates shopping app for Google Glass
                                                                                                          • …facing investigation by Groceries Code Adjudicator
                                                                                                            • …implements online community for suppliers
                                                                                                              • …makes further senior personnel cuts
                                                                                                                • …narrows down the search for chairman role
                                                                                                                  • …reveals the 43 stores facing closure
                                                                                                                    • …to close Blinkbox Books
                                                                                                                      • UK: Waitrose
                                                                                                                        • …announces 2015 expansion plans
                                                                                                                          • …alters free hot drink deal
                                                                                                                            • Off-licences
                                                                                                                              • UK: Bargain Booze sales dip 0.4% in first half
                                                                                                                                • Other food specialists
                                                                                                                                  • UK: Greggs reports a ‘very strong Christmas’
                                                                                                                                    • UK: Naked Wines reports on a ‘bumper’ Christmas
                                                                                                                                      • UK: Thorntons reports strong Christmas trading
                                                                                                                                      • News Analysis – Non-food

                                                                                                                                        • Clothing retailing
                                                                                                                                          • UK: Austin Reed Group
                                                                                                                                            • …to close 31 stores
                                                                                                                                              • …CVA gains approval
                                                                                                                                                • UK: Bank gains interest
                                                                                                                                                  • UK: BHS up for sale
                                                                                                                                                    • UK: Bonmarché sales up 6.1% over Christmas
                                                                                                                                                      • UK: Burberry Q3 retail sales increase 15%
                                                                                                                                                        • UK: Jules B owners invest to make up for accounting errors
                                                                                                                                                          • UK: Karen Millen’s losses double
                                                                                                                                                            • UK: Mamas & Papas widens losses
                                                                                                                                                              • UK: Matalan Q3 sales down 7.7%
                                                                                                                                                                • UK: Mothercare UK like-for-likes edge up over Christmas
                                                                                                                                                                  • UK: New Look like-for-like sales fall 1.7%
                                                                                                                                                                    • UK: Phase Eight bought for £238m
                                                                                                                                                                      • UK: Pretty Green sales climb by a third
                                                                                                                                                                        • UK: SuperGroup sales rise 12.4%
                                                                                                                                                                          • UK: The White Company sales jump 14.4%
                                                                                                                                                                            • UK: TM Lewin returns to profit
                                                                                                                                                                              • UK: White Stuff sees strong uplift at Christmas
                                                                                                                                                                                • Footwear and accessories retailing
                                                                                                                                                                                  • UK: Kurt Geiger
                                                                                                                                                                                    • …enters children’s footwear market
                                                                                                                                                                                      • …reports Christmas boost
                                                                                                                                                                                        • UK: Jimmy Choo grows revenues by 12%
                                                                                                                                                                                          • UK: Office receives official warning following customer data breach
                                                                                                                                                                                            • UK: Radley increases turnover by 13%
                                                                                                                                                                                              • UK: Shoe Zone sales drop 10.8% in 2014
                                                                                                                                                                                                • UK: Shoon put up for sale
                                                                                                                                                                                                  • Department stores
                                                                                                                                                                                                    • UK: Beales accepts offer from English Rose
                                                                                                                                                                                                      • UK: Debenhams hosts Bestseller’s first UK concessions
                                                                                                                                                                                                        • UK: Harrods to stock smart running jackets
                                                                                                                                                                                                          • UK: John Lewis
                                                                                                                                                                                                            • …closes Defined Benefit pension scheme
                                                                                                                                                                                                              • …makes changes to holiday pay policy
                                                                                                                                                                                                                • …to open third distribution centre in Milton Keynes
                                                                                                                                                                                                                  • UK: Sports Direct’s Mike Ashley increases put option in Debenhams
                                                                                                                                                                                                                    • Multi-sector retailing
                                                                                                                                                                                                                      • UK: Argos
                                                                                                                                                                                                                        • …like-for-like sales flat over Christmas
                                                                                                                                                                                                                          • …to exclusively stock Cherokee
                                                                                                                                                                                                                            • …to open digital shops in Sainsbury’s
                                                                                                                                                                                                                              • UK: B&M Q3 sales surge 28.8%
                                                                                                                                                                                                                                • UK: Marks and Spencer poaches Next’s head of menswear design
                                                                                                                                                                                                                                  • UK: Original Factory Shop report record-breaking Christmas
                                                                                                                                                                                                                                    • UK: Poundland
                                                                                                                                                                                                                                      • …posts revenue growth of 9.8%
                                                                                                                                                                                                                                        • …to acquire 99p stores
                                                                                                                                                                                                                                          • Electrical retailing
                                                                                                                                                                                                                                            • UK: Dixons Carphone report ‘strong’ Christmas trading
                                                                                                                                                                                                                                              • UK: Dixons Carphone signs new partnership with EE and launches own mobile service
                                                                                                                                                                                                                                                • UK: Rent-to-own retailers to be investigated by the FCA
                                                                                                                                                                                                                                                  • UK: Three owners in talks to buy O2
                                                                                                                                                                                                                                                    • Music and video goods retailing
                                                                                                                                                                                                                                                      • UK: Game issues profit warning
                                                                                                                                                                                                                                                        • UK: HMV sales up 17.5%
                                                                                                                                                                                                                                                          • Furniture and DIY retailing
                                                                                                                                                                                                                                                            • UK: Carpetright like-for-like sales increase 7.5%
                                                                                                                                                                                                                                                              • UK: DFS
                                                                                                                                                                                                                                                                • …announces IPO
                                                                                                                                                                                                                                                                  • …to target valuation of £1bn
                                                                                                                                                                                                                                                                    • UK: Ikea grows sales by 11.1%
                                                                                                                                                                                                                                                                      • UK: Made.com opens digital showroom in Soho
                                                                                                                                                                                                                                                                        • UK: Sofa.com sold for £50m
                                                                                                                                                                                                                                                                          • Home shopping
                                                                                                                                                                                                                                                                            • UK: AO World Q3 revenues increase 38%
                                                                                                                                                                                                                                                                              • UK: Asos
                                                                                                                                                                                                                                                                                • …founder sells £20m worth of shares
                                                                                                                                                                                                                                                                                  • …reports positive Christmas growth
                                                                                                                                                                                                                                                                                    • UK: First beacon-enabled click-and-collect system launched
                                                                                                                                                                                                                                                                                      • UK: International appetite for UK brands increases
                                                                                                                                                                                                                                                                                        • UK: Ocado
                                                                                                                                                                                                                                                                                          • …Christmas trading up 14.8%
                                                                                                                                                                                                                                                                                            • …reports first annual pre-tax profit
                                                                                                                                                                                                                                                                                              • …teams up with Marie Claire for online beauty store
                                                                                                                                                                                                                                                                                                • UK: Shop Direct
                                                                                                                                                                                                                                                                                                  • …launches first mobile app
                                                                                                                                                                                                                                                                                                    • …growth driven by Very
                                                                                                                                                                                                                                                                                                      • Health and beauty retailing
                                                                                                                                                                                                                                                                                                        • UK: AS Watson
                                                                                                                                                                                                                                                                                                          • …posts strong Christmas trading
                                                                                                                                                                                                                                                                                                            • …to acquire Dirx Drugstores
                                                                                                                                                                                                                                                                                                              • UK: Bestway to rebrand Co-operative Pharmacies
                                                                                                                                                                                                                                                                                                                • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                  • UK: Blackwell's returns to profit
                                                                                                                                                                                                                                                                                                                    • UK: Card Factory
                                                                                                                                                                                                                                                                                                                      • …eyes up Paperchase
                                                                                                                                                                                                                                                                                                                        • …revenues up 8.1%
                                                                                                                                                                                                                                                                                                                          • UK: Foyles appoint new CEO
                                                                                                                                                                                                                                                                                                                            • UK: Paperchase increases like-for-likes by 3.1%
                                                                                                                                                                                                                                                                                                                              • UK: WH Smith sees high street sales fall 5%
                                                                                                                                                                                                                                                                                                                                • Sports and Leisure Goods Retailing
                                                                                                                                                                                                                                                                                                                                  • UK: Evans Cycles draws interest from Mike Ashley
                                                                                                                                                                                                                                                                                                                                    • UK: Halfords report bumper Christmas
                                                                                                                                                                                                                                                                                                                                      • UK: JD Sports like-for-likes jump 12%
                                                                                                                                                                                                                                                                                                                                        • UK: Sports Direct facing claim from zero-hour workers
                                                                                                                                                                                                                                                                                                                                          • Opticians
                                                                                                                                                                                                                                                                                                                                            • UK: Pets at Home has a ‘robust’ quarter
                                                                                                                                                                                                                                                                                                                                              • Economy
                                                                                                                                                                                                                                                                                                                                                • UK: Crime costs the retail industry £603m
                                                                                                                                                                                                                                                                                                                                                  • UK: December retail sales decline 0.4%
                                                                                                                                                                                                                                                                                                                                                    • UK: Retail sales grow 2.5% in December
                                                                                                                                                                                                                                                                                                                                                      • UK: Shop prices fell 1.3% in January
                                                                                                                                                                                                                                                                                                                                                        • UK: UK retail sales edge up 0.2% in January

                                                                                                                                                                                                                                                                                                                                                        Companies Covered

                                                                                                                                                                                                                                                                                                                                                        • 99p Stores Ltd
                                                                                                                                                                                                                                                                                                                                                        • A. S. Watson (Europe)
                                                                                                                                                                                                                                                                                                                                                        • A. S. Watson UK
                                                                                                                                                                                                                                                                                                                                                        • Aldi Stores Ltd (UK & Ireland)
                                                                                                                                                                                                                                                                                                                                                        • Amazon.com Inc
                                                                                                                                                                                                                                                                                                                                                        • AO World Plc
                                                                                                                                                                                                                                                                                                                                                        • Arcadia Group
                                                                                                                                                                                                                                                                                                                                                        • Argos
                                                                                                                                                                                                                                                                                                                                                        • Asda Group Ltd
                                                                                                                                                                                                                                                                                                                                                        • ASOS
                                                                                                                                                                                                                                                                                                                                                        • Aurora fashions UK
                                                                                                                                                                                                                                                                                                                                                        • Austin Reed Group Ltd (Retail)
                                                                                                                                                                                                                                                                                                                                                        • B&M Retail Ltd
                                                                                                                                                                                                                                                                                                                                                        • Bargain Booze Ltd
                                                                                                                                                                                                                                                                                                                                                        • Bartle Bogle Hegarty (UK)
                                                                                                                                                                                                                                                                                                                                                        • BDO Stoy Hayward
                                                                                                                                                                                                                                                                                                                                                        • Beale Plc
                                                                                                                                                                                                                                                                                                                                                        • Bestseller
                                                                                                                                                                                                                                                                                                                                                        • Bhs Ltd
                                                                                                                                                                                                                                                                                                                                                        • Blackwell UK Ltd
                                                                                                                                                                                                                                                                                                                                                        • Blinkbox
                                                                                                                                                                                                                                                                                                                                                        • Bonmarché
                                                                                                                                                                                                                                                                                                                                                        • Booker Cash & Carry Limited
                                                                                                                                                                                                                                                                                                                                                        • Brighthouse
                                                                                                                                                                                                                                                                                                                                                        • British Retail Consortium
                                                                                                                                                                                                                                                                                                                                                        • Budgens Stores Ltd - retail sales
                                                                                                                                                                                                                                                                                                                                                        • Burberry Group Plc
                                                                                                                                                                                                                                                                                                                                                        • Carpetright Plc
                                                                                                                                                                                                                                                                                                                                                        • Cherokee Inc.
                                                                                                                                                                                                                                                                                                                                                        • Co-operative Group
                                                                                                                                                                                                                                                                                                                                                        • Country Casuals Ltd
                                                                                                                                                                                                                                                                                                                                                        • Debenhams UK
                                                                                                                                                                                                                                                                                                                                                        • DFS Furniture Holdings Plc
                                                                                                                                                                                                                                                                                                                                                        • Dirx Drogist
                                                                                                                                                                                                                                                                                                                                                        • Dixons Carphone pro-forma merged group
                                                                                                                                                                                                                                                                                                                                                        • Dixons Retail Plc
                                                                                                                                                                                                                                                                                                                                                        • Evans Cycles UK Limited
                                                                                                                                                                                                                                                                                                                                                        • Game Group
                                                                                                                                                                                                                                                                                                                                                        • Greggs Plc
                                                                                                                                                                                                                                                                                                                                                        • Halfords Ltd
                                                                                                                                                                                                                                                                                                                                                        • Hamleys of London Ltd
                                                                                                                                                                                                                                                                                                                                                        • Harrods Group Total
                                                                                                                                                                                                                                                                                                                                                        • HMV Retail Ltd
                                                                                                                                                                                                                                                                                                                                                        • Home Retail Group
                                                                                                                                                                                                                                                                                                                                                        • Homebase Ltd
                                                                                                                                                                                                                                                                                                                                                        • Hutchison Whampoa (retail)
                                                                                                                                                                                                                                                                                                                                                        • Hutchison Whampoa Limited
                                                                                                                                                                                                                                                                                                                                                        • IKEA
                                                                                                                                                                                                                                                                                                                                                        • J. Choo Limited
                                                                                                                                                                                                                                                                                                                                                        • J. Sainsbury
                                                                                                                                                                                                                                                                                                                                                        • JD Sports Fashion plc
                                                                                                                                                                                                                                                                                                                                                        • John Lewis Partnership
                                                                                                                                                                                                                                                                                                                                                        • John Lewis Plc (department store)
                                                                                                                                                                                                                                                                                                                                                        • Karen Millen
                                                                                                                                                                                                                                                                                                                                                        • Kingfisher Group
                                                                                                                                                                                                                                                                                                                                                        • Kruidvat (Netherlands)
                                                                                                                                                                                                                                                                                                                                                        • Kurt Geiger Ltd
                                                                                                                                                                                                                                                                                                                                                        • Lidl (UK)
                                                                                                                                                                                                                                                                                                                                                        • Little Waitrose
                                                                                                                                                                                                                                                                                                                                                        • Magasin du Nord
                                                                                                                                                                                                                                                                                                                                                        • Mamas & Papas Ltd
                                                                                                                                                                                                                                                                                                                                                        • Marks & Spencer
                                                                                                                                                                                                                                                                                                                                                        • Matalan Ltd
                                                                                                                                                                                                                                                                                                                                                        • McColl's Retail Group
                                                                                                                                                                                                                                                                                                                                                        • Mothercare Plc
                                                                                                                                                                                                                                                                                                                                                        • New Look Group Plc
                                                                                                                                                                                                                                                                                                                                                        • Next Group
                                                                                                                                                                                                                                                                                                                                                        • Next UK & Ireland
                                                                                                                                                                                                                                                                                                                                                        • O2 / Telefonica Ireland (Retail)
                                                                                                                                                                                                                                                                                                                                                        • O2 / Telefonica UK (Retail)
                                                                                                                                                                                                                                                                                                                                                        • Ocado
                                                                                                                                                                                                                                                                                                                                                        • Ocado Group plc
                                                                                                                                                                                                                                                                                                                                                        • Office for National Statistics
                                                                                                                                                                                                                                                                                                                                                        • Office Holdings Ltd
                                                                                                                                                                                                                                                                                                                                                        • Paperchase Products Ltd
                                                                                                                                                                                                                                                                                                                                                        • Pets at Home Group Ltd
                                                                                                                                                                                                                                                                                                                                                        • Phase Eight Ltd
                                                                                                                                                                                                                                                                                                                                                        • Poundland Ltd
                                                                                                                                                                                                                                                                                                                                                        • PricewaterhouseCoopers
                                                                                                                                                                                                                                                                                                                                                        • Radley
                                                                                                                                                                                                                                                                                                                                                        • Rubicon
                                                                                                                                                                                                                                                                                                                                                        • Savers Health and Beauty Ltd
                                                                                                                                                                                                                                                                                                                                                        • Select (Retail) Plc
                                                                                                                                                                                                                                                                                                                                                        • Selfridges Group
                                                                                                                                                                                                                                                                                                                                                        • Shoon Limited
                                                                                                                                                                                                                                                                                                                                                        • Shop Direct Group
                                                                                                                                                                                                                                                                                                                                                        • Spar UK Ltd
                                                                                                                                                                                                                                                                                                                                                        • Sports Direct Plc
                                                                                                                                                                                                                                                                                                                                                        • Superdrug Stores Plc
                                                                                                                                                                                                                                                                                                                                                        • SuperGroup Plc (Retail)
                                                                                                                                                                                                                                                                                                                                                        • SuperGroup Retail UK
                                                                                                                                                                                                                                                                                                                                                        • T.M.LEWIN
                                                                                                                                                                                                                                                                                                                                                        • TalkTalk Telecom Ltd.
                                                                                                                                                                                                                                                                                                                                                        • Target Corporation
                                                                                                                                                                                                                                                                                                                                                        • Telefónica, S.A.
                                                                                                                                                                                                                                                                                                                                                        • Tesco (UK)
                                                                                                                                                                                                                                                                                                                                                        • Tesco Plc
                                                                                                                                                                                                                                                                                                                                                        • The Original Factory Shop Ltd
                                                                                                                                                                                                                                                                                                                                                        • The Perfume Shop Ltd
                                                                                                                                                                                                                                                                                                                                                        • The White Company Ltd
                                                                                                                                                                                                                                                                                                                                                        • Thorntons Plc
                                                                                                                                                                                                                                                                                                                                                        • Three UK Retail
                                                                                                                                                                                                                                                                                                                                                        • Trekpleister (Netherlands)
                                                                                                                                                                                                                                                                                                                                                        • Vodafone Distribution Ltd - UK Retail
                                                                                                                                                                                                                                                                                                                                                        • W&G Foyle Ltd
                                                                                                                                                                                                                                                                                                                                                        • Waitrose
                                                                                                                                                                                                                                                                                                                                                        • WH Smith PLC
                                                                                                                                                                                                                                                                                                                                                        • White Stuff Ltd
                                                                                                                                                                                                                                                                                                                                                        • Wiggle
                                                                                                                                                                                                                                                                                                                                                        • Wm Morrison Supermarkets

                                                                                                                                                                                                                                                                                                                                                        UK Retail Briefing - February 2015

                                                                                                                                                                                                                                                                                                                                                        £295.00 (Excl.Tax)