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European Retail Briefing - October 2012

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

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Table of contents

  1. Analyst Comment

    • Assessing consumer confidence
      • Figure 1: Europe: Consumer confidence, leading countries, Aug-Sep 2012
      • Figure 2: Europe: Consumer confidence, lagging countries, Aug-Sep 2012
    • Retail sales growth
        • Figure 3: Year-on-year retail sales growth, leading countries, Jul-Aug 2012
        • Figure 4: Year-on-year retail sales growth, lagging countries, Jul-Aug 2012
      • Confidence versus retail sales growth
        • Figure 5: Europe: Consumer confidence versus year-on-year retail sales growth, three month average, Jun/Jul-Aug/Sep 2012
      • Growth by sector
        • Figure 6: Europe: Year-on-year retail sales growth rates in selected retail sectors, Jan 2011-Jul/Aug 2012
    • Retail Sales Review

      • Key points
        • France
          • Figure 7: France: Retail sales, 2011-12
        • Inflation
          • Figure 8: France: Inflation, 2011-12
        • Germany
          • Figure 9: Germany: Retail sales trends, 2011-12
        • Inflation
          • Figure 10: Germany: Inflation, 2011-12
        • Italy
          • Figure 11: Italy: Retail sales trends, 2011-12
        • Inflation
          • Figure 12: Italy: Inflation, 2011-12
        • Netherlands
          • Figure 13: The Netherlands: Retail sales trends, 2011-12
        • Inflation
          • Figure 14: The Netherlands: Inflation, 2011-12
        • Spain
          • Figure 15: Spain: Retail sales trends, 2011-12
        • Inflation
          • Figure 16: Spain: Inflation 2011-12
        • UK
          • Figure 17: UK: Retail sales trends, 2011-12
        • Inflation
          • Figure 18: UK: Inflation, 2011-12
      • Headlines for the Month

        • Grocers
          • Clothing retailing
            • Footwear retailing
              • Department stores
                • Multi-sector retailing
                  • DIY retailing
                    • Home shopping
                      • Health and beauty retailing
                        • Sports and leisure goods retailing
                          • Toys and games retailing
                          • News Analysis

                            • Convenience stores
                              • UK: Asda a possible candidate for Costcutter alliance
                                • Co-op invests £7 million in David Sands store conversion plan
                                  • Waitrose to revamp convenience stores
                                    • Grocers
                                      • Europe: Tesco launches online grocery shopping in Slovakia
                                        • France: Carrefour
                                          • … testing self-scan via smartphones
                                            • …to swap stores with Intermarché
                                              • France: Casino to launch contactless payments
                                                • Germany: Ahold opens first store in Germany
                                                  • Germany: Metro
                                                    • … issues profit warning
                                                      • … taken off the DAX
                                                        • Netherlands: Albert Heijn tells suppliers to cut prices to help fund its expansion
                                                          • UK: Aldi reports 450% boost in operating profit
                                                            • UK: Asda
                                                              • … faces system error with Price Guarantee Scheme
                                                                • …reports 6% rise in profits for 2011
                                                                  • …to launch click-and-collect service
                                                                    • UK: Booths eyes expansion
                                                                      • UK: Morrisons
                                                                        • … appoints new managing director for M Local format
                                                                          • …prepares for online launch
                                                                            • …to launch clothing range
                                                                              • UK: Sainsbury's
                                                                                • … Q2 like-for-likes boosted by Paralympic sponsorship
                                                                                  • …to introduce minimum basket spend online
                                                                                    • UK: Tesco
                                                                                      • … appoints new group technical director
                                                                                        • …has a long way to go, but overhaul is underway
                                                                                          • …launches first all-LED store
                                                                                            • …reports 11.6% fall in profits
                                                                                              • …secures planning consent for Norfolk store
                                                                                                • …to lead digital revolution
                                                                                                  • UK: Waitrose grabs highest grocery market share in its history
                                                                                                    • Off-licences
                                                                                                      • UK: Bargain Booze reports 7.7% decline in pre-tax profits
                                                                                                        • Other food specialists
                                                                                                          • UK: Holland and Barrett expands omnichannel outlets
                                                                                                            • UK: Thorntons
                                                                                                              • … reports 1.7% decline in like-for-like sales
                                                                                                                • …reports fall in sales and pre-tax profit
                                                                                                                  • Clothing retailing
                                                                                                                    • Europe: Aurora launches andotherbrands.com in Sweden and the Netherlands
                                                                                                                      • Europe: H&M reports 4% fall in like-for-likes
                                                                                                                        • Europe: Profits soar at Prada
                                                                                                                          • Europe: Sixty Group
                                                                                                                            • … fighting for survival
                                                                                                                              • …in midst of crisis talks
                                                                                                                                • Europe: Versace launches e-commerce site
                                                                                                                                  • Europe: Warnaco plans multimillion pound expansion in Europe
                                                                                                                                    • France: Karl Lagerfeld store to open
                                                                                                                                      • France: Lancel appoints D&G director as new CEO
                                                                                                                                        • Spain: Inditex reports 32% increase in H1 earnings
                                                                                                                                          • Sweden: H&M Q3 results fall short of predictions
                                                                                                                                            • UK: All Saints
                                                                                                                                              • … appoints Burberry vice president as new Chief Executive
                                                                                                                                                • …chairman exits business
                                                                                                                                                  • UK: Armani Group take control of UK operations
                                                                                                                                                    • UK: Burberry reports sales slowdown
                                                                                                                                                      • UK: Coast opens new flagship store in Manchester
                                                                                                                                                        • UK: East reports dramatic fall in pre-tax profits
                                                                                                                                                          • UK: French Connection reports pre-tax loss of £6.3 million
                                                                                                                                                            • UK: G-Star in line for Regent Street store
                                                                                                                                                              • UK: Jack Wills sees sales figures rise
                                                                                                                                                                • UK: Jacques Vert appoints former John Lewis director as group trading director
                                                                                                                                                                  • UK: Jane Norman to open new store
                                                                                                                                                                    • UK: Karen Millen appoints two new retail directors
                                                                                                                                                                      • UK: Matalan to create 5,000 Christmas jobs
                                                                                                                                                                        • UK: Mini Velvet opens 12th standalone store
                                                                                                                                                                          • UK: Moss Bros profits stabilise
                                                                                                                                                                            • UK: New Look reports 30% rise in profits
                                                                                                                                                                              • UK: Next reports first half results
                                                                                                                                                                                • UK: Primark
                                                                                                                                                                                  • … opens new store on London’s Tottenham Court Road
                                                                                                                                                                                    • …reports 17% boost in sales
                                                                                                                                                                                      • UK: Reiss introduces WiFi and iPads to its store
                                                                                                                                                                                        • UK: River Island
                                                                                                                                                                                          • … reports 25% fall in pre-tax profits
                                                                                                                                                                                            • …set to launch accessories range designed by bloggers
                                                                                                                                                                                              • UK: Stella McCartney sees profits soar
                                                                                                                                                                                                • UK: SuperGroup
                                                                                                                                                                                                  • … reports 1.7% increase in Q1 like-for-likes
                                                                                                                                                                                                    • …shareholders rebel
                                                                                                                                                                                                      • UK: Ted Baker reports 10.4% profit boost
                                                                                                                                                                                                        • UK: Thomas Pink introduces one-touch technology
                                                                                                                                                                                                          • UK: Zara’s UK profits soar
                                                                                                                                                                                                            • Footwear retailing
                                                                                                                                                                                                              • UK: Brantano reports £3.7 million pre-tax loss
                                                                                                                                                                                                                • UK: Hotter Shoes ramps up store opening schedule
                                                                                                                                                                                                                  • UK: Jones Group appoints president of global footwear and accessories
                                                                                                                                                                                                                    • UK: Kurt Geiger sees earnings edge up
                                                                                                                                                                                                                      • UK: LK Bennett appoints new Chief Executive
                                                                                                                                                                                                                        • UK: Schuh to launch kids' brand
                                                                                                                                                                                                                          • Department stores
                                                                                                                                                                                                                            • Germany: Karstadt opens second K TOWN store in Cologne
                                                                                                                                                                                                                              • Ireland: Gordon Brothers buys Clerys
                                                                                                                                                                                                                                • UK: Allders to close
                                                                                                                                                                                                                                  • UK: John Lewis Partnership
                                                                                                                                                                                                                                    • … reports 60% rise in profits
                                                                                                                                                                                                                                      • …and M&S to open at new development in York
                                                                                                                                                                                                                                        • UK: Debenhams
                                                                                                                                                                                                                                          • … opens new store in Chesterfield
                                                                                                                                                                                                                                            • …appoints Google’s head of retail as non-executive director
                                                                                                                                                                                                                                              • …reports profit growth
                                                                                                                                                                                                                                                • …to increase floor space at Westfield Bradford store
                                                                                                                                                                                                                                                  • UK: Harvey Nichols to open Christmas pop-up at Merry Hill
                                                                                                                                                                                                                                                    • UK: House of Fraser reports 1.7% rise in H1 like-for-likes
                                                                                                                                                                                                                                                      • Mixed goods retailing
                                                                                                                                                                                                                                                        • UK: Argos reports rise in sales
                                                                                                                                                                                                                                                          • UK: B&M
                                                                                                                                                                                                                                                            • … goes up for sale
                                                                                                                                                                                                                                                              • …seeks European expansion
                                                                                                                                                                                                                                                                • UK: Poundland
                                                                                                                                                                                                                                                                  • … opens new distribution centre
                                                                                                                                                                                                                                                                    • …to create 2,000 jobs over the Christmas period
                                                                                                                                                                                                                                                                      • Multi-sector retailing
                                                                                                                                                                                                                                                                        • Germany: Douglas reports 1.7% rise in sales
                                                                                                                                                                                                                                                                          • UK: Laura Ashley reports sales growth
                                                                                                                                                                                                                                                                            • UK: M&S
                                                                                                                                                                                                                                                                              • … to create 1,000 jobs with new distribution centre
                                                                                                                                                                                                                                                                                • …to create 20,000 temporary Christmas jobs
                                                                                                                                                                                                                                                                                  • …to open 12 more bank branches by the end of 2012
                                                                                                                                                                                                                                                                                    • Music and video retailing
                                                                                                                                                                                                                                                                                      • UK: HMV sales continue to fall
                                                                                                                                                                                                                                                                                        • DIY retailing
                                                                                                                                                                                                                                                                                          • Europe: Kingfisher opens 1,000 international stores
                                                                                                                                                                                                                                                                                            • Germany: Hornbach grows its share in German market
                                                                                                                                                                                                                                                                                              • Germany: Praktiker avoids insolvency
                                                                                                                                                                                                                                                                                                • UK: B&Q to make 15% of head office staff redundant
                                                                                                                                                                                                                                                                                                  • UK: Kingfisher announces interim results
                                                                                                                                                                                                                                                                                                    • UK: Topps Tiles expected to meet profit target
                                                                                                                                                                                                                                                                                                      • Electrical retailing
                                                                                                                                                                                                                                                                                                        • Europe: Dixons appoints managing director for Northern Europe operations
                                                                                                                                                                                                                                                                                                          • Europe: Darty's CEO to step down
                                                                                                                                                                                                                                                                                                            • UK: Dixons to close Dixons.co.uk business
                                                                                                                                                                                                                                                                                                              • UK: Maplin appoints new commercial director
                                                                                                                                                                                                                                                                                                                • Carpet retailing
                                                                                                                                                                                                                                                                                                                  • UK: United Carpets bought in pre-pack administration deal
                                                                                                                                                                                                                                                                                                                    • Furniture retailing
                                                                                                                                                                                                                                                                                                                      • Sweden: Ikea appoints new CEO
                                                                                                                                                                                                                                                                                                                        • Homewares retailing
                                                                                                                                                                                                                                                                                                                          • UK: Lakeland reports fall in profit but rise in turnover
                                                                                                                                                                                                                                                                                                                            • Home shopping
                                                                                                                                                                                                                                                                                                                              • Europe: PPR nears sale of Redcats catalogue arm
                                                                                                                                                                                                                                                                                                                                • Germany: Neckermann to close
                                                                                                                                                                                                                                                                                                                                  • UK: Amazon to hire 10,000 Christmas staff at UK packing centres
                                                                                                                                                                                                                                                                                                                                    • UK: ASOS
                                                                                                                                                                                                                                                                                                                                      • … appoints new chairman
                                                                                                                                                                                                                                                                                                                                        • …hires former M&S retail chief
                                                                                                                                                                                                                                                                                                                                          • …sales increase 15%
                                                                                                                                                                                                                                                                                                                                            • UK: Boden hit by cotton price increase
                                                                                                                                                                                                                                                                                                                                              • UK: eBay partners with Nectar for customer loyalty programme
                                                                                                                                                                                                                                                                                                                                                • UK: Findel reports 7.9% boost in group sales in H1
                                                                                                                                                                                                                                                                                                                                                  • UK: Ocado
                                                                                                                                                                                                                                                                                                                                                    • … launches DIY and car care lines
                                                                                                                                                                                                                                                                                                                                                      • …increases focus on price
                                                                                                                                                                                                                                                                                                                                                        • …reports 10% rise in Q3 sales
                                                                                                                                                                                                                                                                                                                                                          • UK: Profits climb at Abel & Cole as sale speculation mounts
                                                                                                                                                                                                                                                                                                                                                            • UK: The Hut reports 54% increase in sales in H1
                                                                                                                                                                                                                                                                                                                                                              • Health and beauty retailing
                                                                                                                                                                                                                                                                                                                                                                • Europe: Dia acquires German firm Schlecker's Iberian drugstores
                                                                                                                                                                                                                                                                                                                                                                  • UK: Alliance Boots to acquire 12% stake in Chinese pharmaceutical company
                                                                                                                                                                                                                                                                                                                                                                    • UK: The Body Shop in takeover talks
                                                                                                                                                                                                                                                                                                                                                                      • Book and stationery retailing
                                                                                                                                                                                                                                                                                                                                                                        • UK: Clintons’ owner receives bid to take company private
                                                                                                                                                                                                                                                                                                                                                                          • UK: Paperchase opens first airport store
                                                                                                                                                                                                                                                                                                                                                                            • UK: WH Smith offers free WiFi
                                                                                                                                                                                                                                                                                                                                                                              • Sports and leisure goods retailing
                                                                                                                                                                                                                                                                                                                                                                                • Germany: Adidas lowers 2015 sales forecast for Reebok
                                                                                                                                                                                                                                                                                                                                                                                  • UK: Decathlon rules out bid for JJB Sports
                                                                                                                                                                                                                                                                                                                                                                                    • UK: JD Sports reports 85% fall in H1 profit
                                                                                                                                                                                                                                                                                                                                                                                      • UK: JJB Sports
                                                                                                                                                                                                                                                                                                                                                                                        • … acquires new bidder
                                                                                                                                                                                                                                                                                                                                                                                          • …calls in administrators
                                                                                                                                                                                                                                                                                                                                                                                            • …expected to be acquired by Sports Direct
                                                                                                                                                                                                                                                                                                                                                                                              • UK: Jon Moulton pulls out of the race to buy JJB
                                                                                                                                                                                                                                                                                                                                                                                                • UK: Sports Direct
                                                                                                                                                                                                                                                                                                                                                                                                  • … deal for JJB stores now imminent
                                                                                                                                                                                                                                                                                                                                                                                                    • …closes in on JJB Sports
                                                                                                                                                                                                                                                                                                                                                                                                      • … acquires 20 JJB Sports stores
                                                                                                                                                                                                                                                                                                                                                                                                        • …undercuts stockists’ prices
                                                                                                                                                                                                                                                                                                                                                                                                          • Jewellers
                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Claire's Accessories suffers as demand decreases
                                                                                                                                                                                                                                                                                                                                                                                                              • Charity shops
                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Oxfam trials new store design concept
                                                                                                                                                                                                                                                                                                                                                                                                                  • Opticians
                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Optical Express subsidiary falls into administration
                                                                                                                                                                                                                                                                                                                                                                                                                      • Toys and games retailing
                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Game to lose Gamestation fascia
                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Hamleys
                                                                                                                                                                                                                                                                                                                                                                                                                            • … acquired by Groupe Ludendo
                                                                                                                                                                                                                                                                                                                                                                                                                              • …to open first store in Wales
                                                                                                                                                                                                                                                                                                                                                                                                                                • Miscellaneous specialist retailing
                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Go Outdoors’ Chief Executive takes up product-focused role
                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Countrywide invests £2 million in lowering prices
                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Halfords
                                                                                                                                                                                                                                                                                                                                                                                                                                        • … appoints new Chief Executive
                                                                                                                                                                                                                                                                                                                                                                                                                                          • …reports boost in Q2 revenue
                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: Kiddicare unveils £200m sales vision
                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Mothercare appoints new director of retail operations
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Shopping centres
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: Bluewater reports 6.6% rise in sales in September
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: Westfield Stratford City attracts 47 million visitors in first year
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Westfield submits plans for £1 billion redevelopment of Croydon
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Whitely Shopping Centre attracts new tenants
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: BRC: September like-for-like retail sales up 1.5%
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Consumer spending increases by 3%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK: Inflation rate slows to 2.5%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • UK: London’s Luxury sector grows
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • UK: ONS: Olympic Games cause 0.2% decline in retail sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • UK: Retail sales growth halved after Lehman Brothers collapse
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • UK: Retail sales growth set to remain stagnant for 2012
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • UK: Sunday trading reform losing momentum
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • UK: UK consumers slow to adopt apps for purchases
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • UK: Retailers launch pop-up shops
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • European Retail Handbook 2011/12: Greece

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • The Greek retail scene
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Greece in figures
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Population
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 19: Greece: Estimated population, 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 20: Greece: Estimated population, by age group, 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 21: Greece: Population by region, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Economy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 22: Greece: Gross domestic product, 2002-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 23: Greece: Consumer prices index, 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 24: Greece: Households consumption expenditure, 2002-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 25: Greece: Breakdown of households consumption expenditure, 2007-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Greek retailing in figures
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 26: Greece: Retail sales, 2007-12
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 27: Greece: Breakdown of retail sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Food retailing in Greece
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 28: Greece: Food retailers’ sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 29: Greece: Major food retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Non-food retailing in Greece
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 30: Greece: Mixed goods retailers’/department stores' sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 31: Greece: Identified leading department store retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 32: Clothing, footwear, and textiles specialists’ sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 33: Greece: Identified leading clothing, textiles and footwear retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 34: Greece: Household goods specialists’ sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 35: Greece: Identified leading household goods retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 36: Other specialists’ retail sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 37: Greece: Major miscellaneous non-food retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 38: Greece: Non-store retailers' sales (excl VAT), 2007-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 39: Greece: Selected major non-store retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Major retailers in Greece
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 40: Greece: Identified leading retailers, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Major shopping malls
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 41: Greece: Leading shopping centres, 2012

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    European Retail Briefing - October 2012

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