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European Retail Briefing - December 2013

ANALYST COMMENT
 GERMANY AND FRANCE: A WEAK 2013, A BETTER 2014
2013 disappointed
Consumer sentiment remains weak in France
Figure 1: France and Germany: The consumer: Financial situation compared to one year ago, July 2013
Figure 2: France and Germany: Consumer confidence, December 2012-November 2013
Spending power holding up
Figure 3: France: Earnings versus inflation, Q1 2012-Q2 2013
Figure 4: Germany: Earnings versus inflation, Q1 2012-Q2 2013
Forecasts: 2014 will be better
Figure 5: Year-on-year growth in all retail sales (excluding automotive fuel), 2013 (est) and 2014 (fore)
EUROPEAN RETAIL SALES
Key points
Retail sales
Figure 6: Major European economies: Year on year retail sales value growth, 2012-13
Figure 7: Major European economies: Year on year retail sales volume growth, 2012-13
Inflation
Figure 8: Major European economies: All items CPI, 2012-13
Figure 9: Major European economies: Food price inflation, 2012-13
GROCERY RETAILING – EUROPE
Consumer spending
Figure 10: Europe: Year-on-year growth in consumer spending on food, beverages and tobacco (in domestic currencies), by country, 2012
The grocers sector
Figure 11: Europe: Grocers’ sector sales: estimated annual growth (in domestic currencies), 2013
Figure 12: Europe: Grocers’ sector sales (excl. VAT), 2013
The top grocers
Figure 13: Europe’s leading grocers: net revenues and year-on-year growth in revenues, 2012
HEADLINES FOR THE MONTH
Grocers
Clothing retailing
Mixed goods retailing
Multi-sector retailing
DIY retailing
Electrical retailing
Health and beauty retailing
Home shopping
NEWS ANALYSIS – FOOD AND DRINK
 CO-OPS
UK: Co-operative group fears dividend changes could hit supermarkets
 GROCERS
Belgium: Carrefour opens drive-in supermarket in Belgium
Finland: Lidl to invest in Finland
France: E.Leclerc sued over supplier relations
Germany: Rewe
…in trouble over loyalty scheme
…to revamp German operations
…rolls out electronic shelf labels
Ireland: Iceland Foods returns to company-owned stores in Ireland
Ireland: Tesco loses market share in Ireland
Netherlands: Ahold report fall in income
Russian Federation: Dixy sees revenue rise
UK: Aldi releases budget tablet
UK: Asda
…pilots new structure
…releases Q3 update
…to invest in price cutting measures
…to offer click-and-collect at tube stations
UK: Booths sees profits slide
UK: Grocery share figures divided
UK: Lidl eyes rapid expansion
UK: Morrisons opens lab store in Preston
UK: Sainsbury’s half-year profits up
UK: Supermarkets expanding ahead of shopping centres
UK: Tesco
…trials electronic shelf edge pricing
…accused of squeezing suppliers
…acquires Lazada
…carries rubbish in its food trucks
…increases number of third-party sellers
…to suffer continuing losses, according to City analysts
…witnesses third quarter sales decline
…won’t squeeze suppliers
UK: Waitrose sees sales climb
 OFF-LICENCES
UK: Majestic Wine sees profits climb
NEWS ANALYSIS – NON FOOD
 CLOTHING RETAILING
Europe: George at Asda opens second Malta store
Europe: H&M to expand its sports brand
Europe: OpCapita buys troubled European retailer NKD
Europe: Bonmarche
…flotation imminent
…lists on AIM
UK: Arcadia
…considers move into food retailing market
…sales and profits edge up
UK: Benetton plans three-year restructuring programme
UK: Burberry has record £1bn sales
UK: Edinburgh Woollen Mill to create over 1,100 new jobs
UK: French Connection posts rise in like-for-likes
UK: Hackett eyes US expansion
UK: Hugo Boss lowers 2015 profit target
UK: Karen Millen profits decline
UK: Little White Lies opens Topshop concession
UK: Matalan sees womenswear ‘back on track’
UK: Mulberry first-half profits fall
UK: New Look records rising profits
UK: Peacocks considers RBS complaint
UK: Primark to increase selling space by 1 million sq. ft
UK: Ted Baker Sales leap
UK: Tie Rack to close by the end of 2013
UK: TK Maxx
…accused of misleading customers
…to expand operations following strong performance
UK: Warehouse to open London flagship
 FOOTWEAR RETAILING
Europe: Schuh to open European new distribution centre
UK: Barratts shoes
…enters administration
…rescue hopes fade
UK: Clarks launches modernised store
 MIXED GOODS RETAILING
Europe: Metro considers listing Russian cash & carry unit
UK: Poundland
…and Jane Asher in bakeware tie-up
…seeks float in early 2014
UK: Poundstretcher to focus on retail parks
 MULTI-SECTOR RETAILING
France: M&S looks to launch six stores in Casino supermarkets
Ireland: Marks & Spencer workers in Ireland to strike
UK: Argos opens first digital concept store
UK: Marks & Spencer
…announces charity partnership
…general merchandise sales reported to fall
 DEPARTMENT STORES
UK: Debenhams restructures ahead of overseas growth
UK: House of Fraser appoints Rothschild as flotation advisor
UK: John Lewis
…launches food outlets
…records sales boost following Black Friday
…to open in Westfield London
…has sales over £100m for the second week running
 DIY RETAILING
Germany: Max Bahr to enter liquidation
UK: Kingfisher reports rise in Q3 profits
UK: Topps Tiles
…reveal new brand strategy
…sees increase in market share
 ELECTRICAL RETAILING
France: Fnac and Apple create new TV ad
Italy: Dixons completes deal to merge UniEuro with Marco Polo
UK: Carphone Warehouse
…plans licencing growth deals
…sales and profits rise
UK: Dixons
…plans global travel store expansion
…to enter tablet war
UK: Maplin to launch trade fascia
 HEALTH AND BEAUTY RETAILING
Germany: Douglas
…investigating a sale of Hussel
…sees revenues up
 MUSIC AND VIDEO GOODS RETAILING
UK: Blockbuster
…enters administration
…to shutter stores as no buyer found
 CARPET RETAILING
UK: Carpetright profits and sales fall in first-half
 FURNITURE RETAILING
UK: Bathstore returns to profit with new website
UK: Former Feather & Black boss teams up with ex-Asos director to launch bed linen etailer
 HOMEWARES RETAILING
UK: Cath Kidston eyes sale
UK: West Elm preparing for UK debut
 HOME SHOPPING
Europe: Kering looks to sell La Redoute
France: L’Oréal to stop mail order activity
UK: Amazon
…breaks record on Cyber Monday
…to open collection lockers in tube stations
…breaks weekly fashion record
UK: Asda Direct to offer live availability levels
UK: Boohoo float likely to be higher than physical rivals
UK: Cyber Monday to generate £605 million in sales
UK: Debenhams opens eBay shop
UK: Morrisons online focuses on fresh food
UK: MyWardrobe.com
…sees boss exit
…to focus on UK business
UK: Network Rail click-and-collect shops
 BOOK AND STATIONERY RETAILING
UK: Clintons
…reports profits under new ownership
…turnaround on track
UK: Golden goodbye for Kate Swann
UK: WHSmith like-for-likes fall
 SPORTS AND LEISURE GOODS RETAILING
UK: JD Sports
…buys controlling interest in Tiso
…sees like-for-likes rise
 JEWELLERS
UK: Signet posts fall in third-quarter UK like-for-likes
 GARDEN CENTRES
UK: Notcutts opens pop-up stores
UK: Tesco’s Dobbies sees profits fall
 OPTICIANS
 MISCELLANEOUS SPECIALIST RETAILING
UK: Mothercare profits back in black
 ECONOMY
UK: BRC
…Autumn footfall worst of 2013
…November retail sales rise
…shop price deflation slows
UK: Business rates rise cap confirmed
UK: Demand for retail property jumps
UK: Retail sales figures remain steady

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