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UK Retail Briefing - September 2015

ANALYST’S COMMENT
Rationalisation in the C-store market
An underlying pattern?
Booker
It’s not just a question of buying power
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 versus ONS, 2013-15
John Lewis
Figure 3: John Lewis – Year-on-year growth, 2014-15
Inflation and wages
Figure 4: The income squeeze - Wages growth versus inflation, 2009-15
Inflation
Figure 5: Annual percentage change in the consumer price index for selected product groups, 2014-15
Looking forward
SECTOR FOCUS – FOOD RETAILING
Retail sales so far in 2015
Figure 6: Annual percentage change in the value sales of food retailers, 2014-15
Inflation: A downward trend
Figure 7: Annual percentage change in the price of food and non-alcoholic beverages, 2014-15
Volume growth
Figure 8: Annual seasonally adjusted percentage change in the volume of goods sold in food stores, 2014-15
So are the grocer’s initiatives having any effect on consumers?
Figure 9: Attitudes to the statement ‘I shop at cheaper value retailers (eg Lidl, Aldi)’, Dec 2013- June 2015
What it means
HEADLINES FOR THE MONTH
Convenience stores
Grocers
Clothing retailers
Department stores
Multi-sector retailing
Homeware and furniture retailing
Home shopping
Jewellers
Economy
NEWS ANALYSIS – FOOD AND DRINK
 CONVENIENCE STORES
UK: Booker’s Londis and Budgens acquisition approved
UK: Budgens’ new format has been well-received
UK: Jet and Spar open dual branded store
UK: McColl’s announces refinancing package
UK: McColl's Q3 like-for-like sales down 2.3%
UK: M Local stores to be rebranded to My Local following acquisition
UK: One Stop extends pop-up refit solution to franchisees
 GROCERS
UK: Asda suffers 4.7% sales decline in Q2
UK: Continued ‘sluggish growth’ in the UK grocery market
UK: Costcutter slips into a £25m loss
UK: Farming unions to meet following growing protests
UK: Food sales decline for the first time this year
UK: Food sales return to growth in August
UK: Lidl trials ‘Smarter Shopping’ card in Scotland
UK: Morrisons announces an end to ‘unexpected item in the bagging area’
UK: Morrisons
…like-for-like sales down 2.4%
…expected to receive £30m for M Local
…Match and More advert cleared following complaints
…reportedly close to selling M Local
UK: Sainsbury’s
…guarantees staff more than the living wage
…launches Brand Match online
…Tu launches nationwide online
UK: Supermarkets may have to state whether fresh food is from UK
UK: Tesco
…becomes first UK supermarket to stock vinyl
…close to selling South Korean Homeplus business
…closes online wine club
…experiments with try-before-you-buy scheme
…sends head office staff into stores
UK: The Co-operative
…pilots local sourcing
…reports positive first half results
UK: Waitrose expands Pick Your Own Offers scheme
 OTHER FOOD AND DRINK SPECIALISTS
UK: Bargain Booze steps up social media strategy
UK: Conviviality Retail agrees reverse takeover of Matthew Clark
UK: Naked Wines launches Text For Wine service
UK: Nespresso to open Bluewater boutique
NEWS ANALYSIS – NON-FOOD RETAILING
 CLOTHING RETAILING
UK: A Suit That Fits raises funding to fuel growth
UK: Accessories retailer Lovisa prepares for UK launch
UK: American Eagle prepares for UK online launch
UK: Barbour to be the first to sell through Twitter Collections
UK: Dr. Martens opens on Oxford Street
UK: Ecco expands UK high street presence
UK: FatFace sales rise 2.7%
UK: Hobbs sales stall as losses widen
UK: Jimmy Choo net revenues rise 6.5%
UK: Lipsy sales rise 10%
UK: Joules revenues rise 22%
UK: Laura Ashley like-for-like sales rise 7%
UK: Missguided to expand with lingerie, petite and tall ranges
UK: New Look UK like-for-like sales up 4.1%
UK: Oliver Bonas becomes first high street retailer to pay living wage
UK: Primark full-year sales to rise 13%
UK: Radley plots ambitious expansion
UK: Sock Shop makes high street return
 DEPARTMENT STORES
UK: BHS owner seeks further funding
UK: Debenhams
…adds Giles Deacon to designers line-up
…launches campaign to drive full-price sales
…unveils latest designer collection
UK: John Lewis
…announces senior management changes
…eyes Ikea’s top spot in the homeware market
…prepares to recruit 3,000 temporary staff
…reports 'solid' first half
 MULTI-SECTOR RETAILING
UK: Marks and Spencer
…slows rate of international expansion
…womenswear director exits
UK: Next Brand sales up 3.3%
UK: Poundland trials ecommerce site
UK: The Original Factory Shop's profits surge as transformation is underway
 ELECTRICAL RETAILING
UK: Carphone Warehouse suffers a cyber-attack
UK: Dixons Carphone revenues up 8%
UK: GAME delivers positive first-half performance
 HOMEWARE AND FURNITURE RETAILING
UK: Bensons for Beds rolls out mattress-testing technology
UK: Cath Kidston unveils ‘Bags to School’ campaign
UK: Dunelm revenues rise 12.6%
UK: Furniture Village profits surge
UK: Made.com unveils plans for first North West showroom
UK: Procook benefits from rising consumer confidence
UK: ScS announces improved Q4 as CFO departs
UK: West Elm ramps up UK expansion with John Lewis concessions
 HOME SHOPPING
UK: Amazon signs for new warehouse
UK: ASOS chief executive Nick Robertson stands down
UK: Gear4Music sales up 43% in the first half
UK: Moonpig owner on the verge of sale
UK: Zalando trials one-hour courier returns service
 BOOK AND STATIONERY RETAILING
UK: Card Factory sales grow 8% in first half
UK: Paperchase eyes North American expansion
UK: Waterstones to open Tottenham Court Road flagship
UK: WH Smith performing ahead of expectations
 SPORTS AND LEISURE GOODS RETAILING
UK: Halfords appoints managing director to Cycle Republic
UK: Halfords suffers 1.3% sales decline in Q2
UK: Sports Direct to host first Mega Value concession
UK: Sports Direct trading in line with expectations
 JEWELLERS
UK: Beaverbrooks returns to profit
UK: HandT Group's profits surge 30%
UK: Signet UK drives growth in the second quarter
 TOYS AND GAMES RETAILING
UK: Menkind acquires Red5
 PET RETAILING
UK: Pet Supermarket's owner saved from administration
 ECONOMY
UK: Airport retailers told to pass VAT savings on to customers
UK: Retail sales increase 1.9% in July
UK: Shop prices deflate 1.4% in August

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