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UK Retail Briefing - July 2015

ANALYST COMMENT
 SUNDAY TRADING
Budget changes
Introduction of changes
Other objectors
Food retailing in a free Sunday trading environment
Time to change the law
RETAIL SALES – BACKGROUND AND OUTLOOK
Key points
Retail sales trends
Figure 1: Retail sales trends, 2014-15
Figure 2: UK retail sales y/y growth, BRC vs ONS, 2014-15
John Lewis
Figure 3: John Lewis: Year-on-Year Growth, 2014-15
Inflation and wages
Figure 4: The income squeeze: Wages growth vs inflation, 2010-15
Inflation
Figure 5: Annual percentage change in the consumer price index for selected product groups, 2014-15
Looking forward
SECTOR FOCUS – ELECTRICAL GOODS RETAILING
What you need to know
Recovering from Black Friday
Figure 6: Spending on electrical / electronic goods, 2014
Figure 7: Year-on-year growth in spending on electrical goods, 2010-Q1 2015
Q1 2015
Specialists’ sales
Figure 8: Retail sales (including VAT), 2010-15
Dixons Carphone – The first full year results
Market shares
Figure 9: Leading specialists and non-specialists share of all spending on electricals, 2013-14
Prospects
Figure 10: Electricals spending plans, May 2015
HEADLINES FOR THE MONTH
Convenience stores
Grocers
Other food and drink specialists
Clothing and footwear retailing
Department stores
DIY retailing
Garden centre retailing
Home shopping
Health and beauty retailing
Entertainment retailing
NEWS ANALYSIS – FOOD AND DRINK
 CONVENIENCE STORES
UK: Booker Group
…appoints new chairman
…makes ‘good progress’ in the first quarter
UK: Convenience stores invest £177m over last three months, shows report
UK: Nisa
…posts £3m operating loss
…Store of the Future 2 concept proves popular
UK: Spar kicks off summer campaign
 GROCERS
UK: Asda poised to win back customers at Christmas
UK: Iceland sales fall 0.5% in 2014
UK: Lidl
…launches £20m marketing drive
…mulls online wine store
UK: Mid-counties Co-operative enlists first non-food concessions
UK: Morrisons sees the largest sales increase again
UK: Ocado
…announces humanlike robots
…closing in on international deal
…half year revenue increases 18.2%
UK: Sainsbury’s
…like-for-likes fall 2.1%
…makes board changes
UK: Tesco Q1 like-for-like sales improvement
UK: The Co-operative Group
…appoints new board members
…focuses on London expansion
…invests £125m in price cuts
 OTHER FOOD AND DRINK SPECIALISTS
UK: Conviviality Retail in talks to buy drinks supplier
UK: Ferrero makes offer for Thorntons
UK: Holland & Barrett
…enjoys 5.5% sales increase
…hosts vegan cafe concession
UK: Majestic Wine sales grow but profits fall
NEWS ANALYSIS – NON-FOOD
 CLOTHING AND FOOTWEAR RETAILING
UK: Asos posts 20% sales rise
UK: Bon Marché like-for-like sales increase 4.0%
UK: Clarks
…installs Wifi to all stores
…suffers a ‘challenging’ year
UK: East embarks on store closures
UK: Fat Face plans US expansion
UK: H&M experiments with East London pop-up
UK: Joules secures £11m of funding
UK: Mulberry’s trading improves in the second half
UK: N Brown transformation is “on track”
UK: New Look acquisition is completed
UK: New men’s concept store: The Dandy Lab
UK: Reiss founder explores minority stake sale
UK: Shoe Zone revenues fall amidst store closures
UK: SuperGroup maintains sales momentum in Q1
UK: Ted Baker
…launches virtual version of its ‘& Moore’ store
…revenues grow by 24.2%
UK: TM Lewin in talks over management buyout
 MULTI-SECTOR RETAILING
UK: Argos sales suffer but Homebase sees an improvement in Q1
UK: Marks & Spencers
…loses market share
…restates online figures to account for returns
…Q1 sales rise 1.8%
UK: Wilko suffers from fall in earnings
 DEPARTMENT STORES
UK: Debenhams like-for-like sales flat
UK: House of Fraser
…restructures to become more customer-centric
…sales boosted by online shoppers
…to open its first full scale bricks and mortar store in the UK since 2008
UK: John Lewis
…announces JLAB finalists
…ends free click-and-collect for orders under £30
…enters the smartphone market
…sales buoyed by Father’s Day purchases
…teams up with Bruce Oldfield
…to roll out more restaurant concessions
UK: Liberty plans international expansion
 DIY RETAILING
UK: Clas Ohlson signs contract for second compact store
UK: Kingfisher hires Coop Denmark boss as new chief
UK: Topps Tiles has an encouraging Q3
 FURNITURE AND HOMEWARE RETAILING
UK: Carpetright sales and profits up
UK: Dunelm
…appoints John Browett as chief executive
…like-for-like sales up 5.8%
UK: Sofaworks may have to change name following DFS court battle
 GARDEN CENTRE RETAILING
UK: Wyevale Garden Centres profits surge 55%
 HOME SHOPPING
UK: Amazon
…brings one-hour delivery to London
…Prime Day to offer more discounts than Black Friday
UK: Arcadia backed online shopping site to launch in the UK
UK: Boohoo sales grow 35% in Q1
UK: Net-a-Porter makes first profit in five years
UK: Royal Mail to send direct mail based on online shopping history
UK: The Book Depository makes £4m loss
 ELECTRICAL RETAILING
UK: Brighthouse
…revenues up 12.2%
…to roll out smaller “satellite” store format
UK: Dixons Carphone partners with Sprint Corp in the US
UK: Maplin reports flat full-year profits
 HEALTH AND BEAUTY RETAILING
UK: Superdrug full-year pre-tax profits and sales up
 GREETINGS CARD AND STATIONERY RETAILING
UK: Card Factory management selling off shares
UK: Paperchase nears a takeover deal
 SPORTS AND LEISURE GOODS RETAILING
UK: Direct Golf reveals full-year sales decline
 ENTERTAINMENT RETAILING
UK: Hamleys eyed by House of Fraser owners
UK: HMV relaunches online
UK: Halfords appoints new CFO
UK: JD Sports continues strong start to the year
UK: Sports Direct announces first Scottish retail and gym hybrid
 TRAVEL RETAILING
UK: Moto suffers £37m turnover drop
 SHOPPING LOCATIONS
UK: Longines sets record for Oxford Street rent
UK: Westfield announces expansion to luxury shopping village
 ECONOMY
UK: Government to relax Sunday trading laws
UK: Shop prices fall as consumer confidence rises
UK: The BRC warns on business rates

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