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European Retail Briefing - July 2016

ANALYST COMMENT
 THE UK AND THE EU
The immediate impact
European reactions
Time scales
Short term
Figure 1: John Lewis sales growth, June, July 2016
Problems on the downside
Christmas 2016
Medium term
Uncertainty
EUROPEAN RETAIL SALES
Key points
Figure 2: Major European economies:  Year-on-year retail sales value growth, 2015-16
Figure 3: Major European economies:  Year-on-year retail sales volume growth, 2015-16
Inflation
Figure 4: Major European economies:  All items CPI, 2015-16
Figure 5: Major European economies: Food price inflation, 2015-16
HEADLINES FOR THE MONTH
Convenience stores
Grocers
DIY retailing
Furniture retailing
Home shopping
NEWS ANALYSIS – FOOD AND DRINK
 CONVENIENCE STORES
Europe: Spar delivers to French campsites
UK: Best-one trials value fascia to compete with the discounters
UK: Booker sales rise 10%
UK: Convenience store numbers grow 21%
UK: My Local
…enters administration
…hires KPMG to explore options
…close to collapse
UK: Nisa returns to profit
UK: The Co-op acquires six stores from My Local
 GROCERS
Belgium: Colruyt retail sales rise 4%
Belgium: Delhaize sells pet food chain in Belgium
Europe: Cora and Carrefour extend joint purchasing agreement
Europe: E.Leclerc and Rewe create new alliance
France: Leclerc installs 24 hour lockers
Greece: Marinopoulos granted protection after filing for bankruptcy
Italy: Carrefour launches new convenience store
Italy: Conad invests in 88 store openings
Italy: Simply launches online in Italy
Netherlands: Albert Heijn launches new online initiatives
Netherlands: Plus sales rise 4.3%
Norway: NorgesGruppen trials online offering
Poland: Eurocash eyes bid for Zabka
Spain: Auchan Spain sales reach £4.6bn
Spain: Carrefour
…Express stores appear in more petrol stations across Spain
…plots Spanish store acquisitions
Spain: El Corte Inglés’ Hipercor stores to receive increased private label range
Spain: Eroski fails to drive sales growth in 2015
Sweden: ICA Group sells InkOne website
UK: 10p supermarket pop-up set to launch permanently
UK: Booths hosts beer ‘n’ BBQ night
UK: Grocery sales fall 0.2%
UK: Iceland sees like-for-likes slide but profits remain flat
UK: Morrisons opens Doddle concessions in store
UK: Ocado profits rise 5.7%
UK: Sainsbury's
…announces the closure of all Netto UK stores
…finance chief John Rogers to take the reins at Home Retail
…sends formal acquisition document to Home Retail
…trials one hour delivery in Wandsworth
UK: Tesco
…confirms sale of Giraffe and Kipa
…offloads Dobbies Garden Centres
…to open pop-up wine bar in London
UK: Waitrose to launch on British Corner Shop
UK: Walmart's Head of China to take the helm at Asda
 OTHER FOOD SPECIALISTS
UK: Holland & Barrett profits rise 12.2%
UK: Majestic Wine group sales surge 41.3%
NEWS ANALYSIS - NON-FOOD
 CLOTHING RETAILING
Europe: H&M reveals 7% growth in group sales
Spain: Inditex net sales rise 12%
UK: Bhs
…overseas business sold to Qataris
…to receive second offer from Mike Ashley
UK: Bonmarche
…confirms CEO start date
…revenues up 5.3%
UK: Bravissimo to open at Liverpool ONE
UK: Cambridge Satchel Company reports a £5.4m loss
UK: Forever 21 reviews UK store portfolio
UK: Jack Wills investor looks to sell
UK: Joules retail sales rise 11%
UK: Lipsy plots to become ‘new branded destination’
UK: Mint Velvet opens first shopping centre store
UK: Mr Porter expands with own-label launch
UK: Mulberry reports “significant progress”
UK: Oasis replatforms website
UK: Primark delivers 7% growth
UK: Reiss profits surge 52%
UK: Store Twenty One
…'considering its options'
…enters CVA
UK: Superdry increases focus on sportswear
UK: Ted Baker sales rise 11.3%
UK: White Stuff chooses Germany for local language site
UK: Zara reports 8% rise in UK sales
 FOOTWEAR AND ACCESSORIES RETAILING
UK: Aspinal of London partners with Cunard
UK: Clarks profits tumble 65%
UK: Shoe Zone announces board reshuffle
UK: Shoon acquires foot clinic Shuropody
 MULTI-SECTOR RETAILING
Netherlands: Hema Q1 sales rise 5.9%
UK: Marks and Spencer general merchandise sales slide 8.9%
UK: Poundland like-for-like sales slip 3.9%
UK: Steinhoff
…reconsidering Poundland acquisition
…sets its sights on Poundland
…ups bid in Poundland
UK: Wilko achieves 15% surge in profits
 DEPARTMENT STORES
Ireland: John Lewis partners to sell homewares in Ireland
UK: British Land sells Debenhams flagship
UK: Debenhams’
…like-for-like sales fall 0.2%
…the front bidder for its Irish operations
UK: John Lewis
…rolls out visual search technology
…to launch luxury ready-to-wear label
UK: Selfridges takes ‘retail theatre’ to new heights
 DIY RETAILING
Europe: Hornbach
…sales rise 6.1%
…turnover up over 5% for FY2015/16
UK: Topps Tiles like-for-like sales rise 6.2%
 ELECTRICAL RETAILING
UK: Dixons Carphone like-for-like sales rise 5%
Belgium: JYSK to launch in Belgium with 50 stores
France: Ikea trials 'Click & Roll' in France
UK: Carpetright like-for-like sales up 2.8%
UK: Dreams owner prepares for £400m sale
 HOMEWARES RETAILING
UK: Dunelm sales growth slows to 1.8%
 HOME SHOPPING
France: Amazon Prime launches in Paris
Germany: Zalando
…teams with Adidas to offer same-day delivery
…unveils plans for Bread & Butter Berlin
UK: Amazon
…expands Dash offering and Fresh deliveries
…plows ahead with 1,000 new job roles
UK: Findel narrows losses in the year of Kitbag sale
UK: Gear4Music enjoys continued strong European sales
UK: Mr Porter expands with own-label launch
UK: N Brown revenues dip 0.2%
UK: Shop Direct
…deputy chief executive to depart
…working with TH_NK to update Very site
 HEALTH & BEAUTY RETAILING
UK: Sirin Labs opens Mayfair flagship store
UK: Superdrug sales climb 5.4%
 BOOK AND STATIONERY RETAILING
UK: Blackwell’s appoints new customer service director
UK: Hobbycraft sales up
 SPORTS AND LEISURE GOODS RETAILING
UK: JD Sports expects strong trading on the back of the Euros
UK: Sports Direct reports a ‘disappointing’ year
 GARDEN CENTRES
UK: Dobbies new owners outline growth plans
 SHOPPING LOCATIONS
UK: Manchester Arndale plans £11 million redevelopment
 ECONOMY
UK: Food prices fall 0.8% in June
UK: Retail footfall rises 0.3% in May
UK: Retail sales grow 3.4% in May
ONLINE RETAILING – EUROPE, JULY 2016: AMAZON
What we think
Marketplace
AWS
Prime
Food
Where next?
Company background
Company performance
Figure 6: Amazon.com Inc: Group financial performance, 2010/11-2014/15
Retail offering

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