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European Retail Briefing - May 2009

ANALYST’S COMMENT
 RECESSION OPENS UP OPPORTUNITIES IN KIDSWEAR
A market with high potential
Expanding to fill the gap?
Success may lie in being different…
HEADLINES OF THE MONTH
Food retailers
Clothing
Mixed goods
Conglomerates
Department stores
DIY
Electricals
Home shopping
Health and beauty
Cultural goods
RETAIL SALES REVIEW
 FRANCE
Figure 1: France: Retail sales trends, Mar 2008-Feb 2009
Inflation
Figure 2: France: Inflation, 2008-09
 GERMANY
Figure 3: Germany: Retail sales trends, Mar 2008-Mar 2009
Inflation
Figure 4: Germany: Inflation, 2008-09
 ITALY
Figure 5: Italy: Retail sales trends, Feb 2008-Feb 2009
Inflation
Figure 6: Italy: Inflation, 2008-09
 NETHERLANDS
Figure 7: The Netherlands: Retail sales trends, Nov 2007-Nov 2008
Inflation
Figure 8: The Netherlands: Inflation, 2008/9
 SPAIN
Figure 9: Spain: Retail sales trends, Mar 2008-Mar 2009
Inflation
Figure 10: Spain: Inflation, 2008
 UK
Figure 11: UK: Retail sales trends, Feb 2008-Mar 2009
Inflation
Figure 12: UK: Annual percentage change in Retail Price Index, 2008/09
SECTOR FOCUS: EUROPEAN HOME SHOPPING RETAILERS
Market size and performance
E-commerce driving market growth
Leading retailers
Figure 13: Europe: Leading home shopping companies, share of home shopping market, 2008
The future
NEWS ANALYSIS
 BAKERS (RETAIL)
UK: Thorntons flourishes in Spring
 CO-OPS (RETAIL)
UK: Co-operative Group boasts record FY results
 GROCERS
Belgium: Delhaize Q1 profits soar 24.4%
Bulgaria: Rewe to invest €100m in Bulgarian expansion
Denmark: Dansk Supermarked sales rise in 2008
France: Carrefour
… cites Russia as key development area
… reports robust Q1 results
… signs tentative deal with Seventh Continent
… to overhaul French hypermarkets
France: Casino's Q1 profits dip 3%
Germany: Edeka Group announces 5% rise in FY sales
Germany: Rewe launches new fascia
Netherlands: Ahold
… sales jump 15% in Q1
… to open maiden convenience store in US
Netherlands: Albeit Heijn to widen non-food range
Netherlands: Schuitema FY profits rises five-fold
Poland: Biedronka eyes Netto stores for expansion
Portugal: Jeronimo Martins Q1 profit up
Russian Federation: Magnit
… Q1 sales soar 36%
… sees Q1 profit surge
Russian Federation: Seventh Continent sees sales increase in Q1
Russian Federation: X5
… profits soar 46% in Q1
… reports $26.7m net loss in Q4
… EBITDA soars 47% in 2008
Slovenia: Mercator Q1 profit dips 30.8%
Sweden: Axfood
… sales up in Q1
… sales up 3.3% in April
Sweden: ICA enjoys fruitful Q1
UK: Henderson Group posts profit increase
UK: Tesco
… to double in-store telecoms shops
… posts record FY profits
… to launch pharmacies in smaller superstores
… reveals £150m Clubcard overhaul
…Fresh & Easy posts £142m loss
UK: Waitrose and Ocado step up online grocery battle
 CLOTHING RETAILING
Germany: Hugo Boss Q1 profit falls 8%
Italy: Benetton records 38% profit drop
Spain: Zara Kids unveils first UK store
UK: Alexon
…reports profit drop
… Bay Trading put in administration
UK: Burberry confident to meet market expectations
UK: Jane Norman in strategic review
UK: Original Factory Shop boasts 12% rise in LFLs
UK: Primark outperforms market with 18% jump in LFLs
UK: Viyella to launch first-ever menswear collection
US: Gap sales continue to slide in March
 MIXED GOODS RETAILING
Germany: Woolworth Germany files for insolvency
UK: Home Retail Group suffers profit drop
 MULTI-SECTOR RETAILING
Finland: Kesko's Q1 sales drop 11%
France: PPR reports robust Q1 results
Germany: Arcandor
… mulls state aid
… to invest €900m in restructuring plan
… to apply for state aid
Germany: Metro
… trials new store format in Germany
… sees Q1 profits halve
Netherlands: Blokker reveals sales increase
UK: Next Q1 results boosted by Easter sales
 DEPARTMENT STORES
Finland: Stockmann
… sees Q1 sales fall 15%
… to scrap Hobby Hall division in Baltic countries
France: Galeries Lafayette posts 4% drop in FY profit
Germany: Hertie eyed by investor group
UK: Debenhams
… battles over Principles stock
… posts 10.7% profit increase
… parts ways with Shoe Studios
UK: Harrods plots Malaysian move
UK: John Lewis to launch standalone home and electricals stores
UK: Liberty's losses widen in 2008
 DIY RETAILING
Germany: Praktiker sales down 8% in Q1
UK: Robert Dyas in MBO
UK: Wickes owner in £300m rights issue
 ELECTRICAL RETAILING
Russian Federation: M. Video enjoys 21% jump in Q1 sales
UK: DSGi posts LFLs drop, unveils rights issue
US: Best Buy scales down UK plans
 CARPET RETAILING
UK: Carpetright LFLs fall
 FURNITURE RETAILING
Sweden: Ikea appoints Ohlsson as new chief
UK: Dreams opens 200th store
 HOMEWARES RETAILING
UK: Dunelm LFLs climb 2.3%
 HOME SHOPPING
UK: Asos posts 104% sales boost
UK: Flying Brands chief to buy 12.48% stake
UK: Ideal Shopping Direct records FY loss
UK: N Brown defies gloom with 11% jump in FY profits
US: Amazon reports profit boost
 HEALTH AND BEAUTY RETAILING
Germany: Chemist Rossmann bucks crisis with record profits
 BOOK AND STATIONERY RETAILING
UK: Waterstones to slash up to 650 jobs
UK: WH Smith
… posts 5% fall in H1 profits
… eyes more Woolworths stores
 SPORTS AND LEISURE GOODS RETAILING
UK: JD Sports Fashion
… reports 9% jump in FY profits
… ponders JJB takeover
UK: JJB Sports
… on brink of administration
… secures vital rescue deal
 JEWELLERS
UK: Signet sees sales drop in Q1
UK: Theo Fennell re-appoints former chief
 VIDEO GAMES RETAILING
UK: Game FY profits surge
 GARDEN CENTRES
UK: Dobbies enjoys sales rise
 MUSIC AND VIDEO RETAILING
UK: HMV
… to open cinema
… enjoys sales boost
 MISCELLANEOUS SPECIALIST RETAILING
UK: Halfords reports sales slide
UK: Pets at Home sees FY profit soar 29%
 ECONOMIC NEWS
Germany: German retail sales dip in March
Russian Federation: Retail sales dip in Q1
Spain: Retail sales slump in March
UK
BRC: Retail LFLs down 1.2% in March
London outperforms UK with 5% jump in LFLs
Scottish retail sales rise in March
ONS: Retail sales improve in March
UK retail sales climb in April, says CBI
BRC: April retail sales boosted by sunny Easter

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