Table of Contents
Analyst Comment
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- Argos – what’s gone wrong?
- The performance
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- Figure 1: Argos and its key retail sectors performance, 2009-11
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- Figure 2: Argos sales mix, 2009-10
- What has gone wrong?
- Dixons – a revitalised business fighting back
- Tesco Direct – taking a leaf out of Argos’ Book
- A dull shopping experience
- Where next?
Headlines for the Month
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- Grocers
- Food and drink specialists
- Clothing retailers
- Footwear retailing
- Multi-sector retailing
- Miscellaneous specialists
- Mixed goods retailers
- Department stores
- DIY retailing
- Electricals retailing
- Home shopping
- Health and beauty retailing
- Books and stationery
- Sports and leisure goods retailing
- Jewellers
- Toys and games retailers
Retail Sales – Background and Outlook
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- Key points
- Retail sales trends
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- Figure 3: Retail sales trends, 2010-11
- So what is really going on?
- BRC
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- Figure 4: UK retail sales y/y growth, BRC vs ONS, 2010-11
- John Lewis
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- Figure 5: John Lewis: Year-on-year growth, 2010-11
- Inflation and wages
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- Figure 6: RPI vs Average weekly earnings growth, 2005-11
- Inflation remains uncomfortably high
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- Figure 7: Annual percentage change in the Consumer Price Index for selected product groups, 2010-11
- Looking forward
Sector Analysis – Miscellaneous Non-Food Specialists
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- Sector relatives
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- Figure 8: Miscellaneous specialists’ sales as % of all retail sales, 2006-10
- Retail sales data
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- Figure 9: Miscellaneous specialists’ retail sales, current prices, 2006-10
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- Figure 10: Miscellaneous specialists’ retail sales, May 2010-April 2011
- Consumer prices inflation
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- Figure 11: Consumer prices inflation in selected categories, June 2010-May 2011
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- Figure 12: Consumer prices inflation in selected categories, June 2010-May 2011
- Consumer expenditure
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- Figure 13: UK: Consumer spending, selected categories, 2006-10
- Leading players
- Books/news
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- Figure 14: UK: Leading book and news retailers, 2009/10
- Health and beauty
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- Figure 15: UK: Leading health & beauty retailers, 2009/10
- Other specialists
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- Figure 16: UK: Leading other specialist retailers, 2009/10
News Analysis
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- Grocers
- Asda
- …considers bid for Iceland
- …makes £27m food quality investment
- …opens converted Netto stores
- …reports flat like-for-likes
- …to open George clothing stores in Middle East
- Asda Income Tracker: Families £13 worse off
- Co-op
- …members give £3m to charity
- …relaunches Truly Irresistible in sales push
- Haldanes files for administration
- Heron Food sales rise but profits fall
- Iceland Foods
- …goes on sale, with bids expected to reach £2bn
- …profits rise 20%
- Morrisons
- …buys wholesale florist
- …prepares bid for Iceland
- …saves up promotions for shoppers' payday
- Sainsbury's
- …expands Click & Collect network
- …looking to attain growth 'beyond food'
- …profits up 9%
- …Shapland leaves
- Tesco
- …appoints digital and marketing officer
- …expands click-and-collect service
- …Japan boss takes UK role
- …looks to entice fashion brands
- …to launch new brands
- …trials in-store 'sat-nav' system
- Waitrose
- …to launch healthy range
- …to launch high street cafe
- Food specialists
- Greggs sees continued total sales growth
- Clothing retailing
- American Eagle circles London for first UK stores
- Ann Summers to re-launch sex toys as part of re-branding strategy
- Arcadia
- …marketing boss joins M&S
- …Green to sell Bhs stores to Primark
- Aurora to extend 90-minute delivery option outside M25
- Bravissimo profits hit by Pepperberry
- Burberry
- …expects 40% profit rise
- …focuses on flagships as profits rise
- French Connection confident it will hit yearly targets
- George at Asda turns 21 and sparks new plans
- H&M
- …sales rise with warm weather
- …to open first UK concession in Selfridges
- Hobbs to launch contemporary sub-brand
- Jane Norman
- …boss exits
- …up for sale
- Kookai sales fall after repositioning
- Life & Style on brink of administration
- Mango changes logo to appeal to mature customers
- Moss Bros reports like-for-likes up 8.2%
- New Look profits fall sharply
- Peacocks appoints Allan Leighton
- Phase Eight reports 42% rise in pre-tax profits
- SuperGroup
- …acquires Austin Reed Regent Street store
- …growth slows in Q4
- TK Maxx slows expansion to cope with tougher trading
- Topshop launches 'secret' in-store pop-up shop
- Footwear retailing
- Dune relaunches website in bid for 50% growth
- Jimmy Choo sold for £50m
- Kurt Geiger
- …launches discount website
- …sold to Jones Group for £215m
- Shoe Zone profits fall after store investment
- Multi-sector retailing
- HMV
- …close to securing £210m refinancing deal
- …receives £43m cash bid for Waterstone's
- …sells Waterstone's to Russian billionaire
- Argos sales down, but Homebase steady
- Miscellaneous specialists
- SCS to open carpet department in stores
- Albermarle & Bond full year trading to be at top end of expectations
- Halfords
- …Autocentres reports improved sales
- …profits up 7.2% despite tough retail sales
- …trials smaller high street bike shops
- Mothercare to close outlets as profits slump
- Mixed goods retailers
- B&M Bargains
- …acquires 11 Focus stores following Focus' collapse
- …reports strong year
- Marks & Spencer
- …bolsters food division team
- …chief considers moving company upmarket
- …sees profits and market share rise
- 99p Stores sees profits rise amid international plans
- Department stores
- HoF and Debenhams kick off summer sales early
- Debenhams’ suppliers compete in auction-style bidding war
- Harrods launches iPhone app
- Harvey Nichols owner eyes Aurum
- House of Fraser
- …closes £250 bond issue
- …reports strong full year profits
- …to launch Portas collection
- John Lewis
- …confirms commitment to NKU
- …sales down
- Laura Ashley like-for-likes down
- DIY retailing
- B&Q opens nine new You Can Do It Centres
- Focus DIY
- …business receiving "fantastic level of interest"
- …stores acquired by Wickes and B&M Bargains revealed
- …to close 120 stores
- Kingfisher attributes strong first quarter to good weather
- Topps Tiles reports flat profits and sales
- Wickes acquires 13 Focus stores for £8.4m
- Electrical retailing
- Comet
- …like-for-like sales fall 15.2%
- … disposal rumoured
- …‘We’re not closing down’
- Dixons
- …agrees £59m sale and leaseback deal
- …teams up with big brands for service push
- …to drive profit through its Knowhow service division
- …UK like-for-likes fall
- Everything Everywhere opens 30 own name stores
- Jessops opens 2nd Centre of Excellence store
- Maplin sees three directors leave
- Home shopping
- The Hut acquires Myprotein.com for £58m
- Asos profits up 41%
- Brand Alley seeks £87m to fund growth
- Findel profits fall as turnaround begins
- My-Wardrobe.com like-for-like sales rise 96%
- N Brown reports full year profits rise 5.5%
- Ocado sales growth slows but first half EBITDA up
- Health and beauty retailing
- Alliance Boots sees profits rise
- Lloyds Pharmacy launches new website
- Book and stationery retailing
- Clinton Cards reports fall in like-for-like sales
- HobbyCraft unveils new store concept
- Staples to roll out in-store entrepreneurial courses
- Sports and leisure goods retailing
- American Golf sees sales rise
- Go Outdoors secures £30m credit facility to fund expansion
- JD Sports like-for-likes fall, but in line with expectations
- JJB warns turnaround could take five year as losses triple
- Jewellers
- Signet
- …considers sale of UK arm
- …insists it will continue to invest in UK
- …UK like-for-likes remain flat
- Toys and games retailing
- Disney Store makes sharp cut in losses
- Early Learning Centre launches new mobile website
- Economy
- BRC
- …says UK consumers lack optimism
- …Like-for-like sales fall 2.1% in May
- …responsible retailing guide for kisdwear sees retailers sign up
- British Land to begin new developments
- Capital Shopping Centres plans expansion as footfall grows
- CPI annual inflation rise to highest level in 2.5 years
- Food inflation at highest level in two years
- Hard discounters and Waitrose post strong growth
- Like-for-like sales rise 5.2% in April
- Retail sales rise 6.2% in April
- Suit prices to rise by 10% as wool prices reach record high
- Westfield London sales grow 19.8% in Q1
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