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European Retail Briefing - March 2018

ANALYST COMMENT – LECLERC TO OPEN 200 STRONG ORGANIC SUPERMARKET CHAIN
What we’ve seen
Organics market grew 16% in 2017
Figure 1: France: Sales of organic produce by channel, 2012-16
A more knowledgeable and demanding consumer
Figure 2: France: Attitudes towards diet, Q4 2017
Figure 3: France: Grocery shopping habits, Q4 2017
Retailers are engaging too
What it means
EUROPEAN RETAIL SALES
Key points
Retail sales
Figure 4: Major European economies:  Year-on-year retail sales value growth, 2017-18
Figure 5: Major European economies:  Year-on-year retail sales volume growth, 2017-18
Inflation
Figure 6: Major European economies:  All items CPI, 2017-18
Figure 7: Major European economies:  Food price inflation, 2017-18
LAUNCH ACTIVITY AND INNOVATION
Spain: DIA expands Amazon Prime Now to Valencia
Spain: El Corte Inglés incorporates Alipay with Alibaba
Spain: Eroski launches discount loyalty program
Spain: IKEA Ibérica partners with Vibbo to sell second-hand furniture
France: Casino expands delivery options in partnership with La Poste
Germany: Dixons Carphone to introduce ‘next gen’ stores in German airports
Italy: Lidl Italia launches new green store format and increases in-country investment
UK: Game to open esports arenas and concessions in Sports Direct stores
UK: Intu uses visual search AI to help drive sales
UK: John Lewis developing social media content for staff to share
UK: Selfridges opens instore boxing gym
UK: Waterstones launches female author only popup
HEADLINES FOR THE MONTH
Food and Drink
Clothing and Footwear
Home and Household Goods
Online
Other Retail
Economy
NEWS ANALYSIS – FOOD AND DRINK
Belgium: Carrefour expands grocery collection service
Belgium: Franprix opens first Belgian store
Denmark: Coop Danmark launches organic Irma ØKO store
France: Biocoop sales rise 15% amid store expansion
France: Casino to buy Sarenza
France: E Leclerc sales up 2% in 2017 and plans for organic chain
France: Système U negotiates with Amazon to become main food supplier
Germany: Aldi Nord & Süd explore more cooperation
Germany: METRO sales edge up 0.2% in Q1
Italy: Aldi to enter Italy
Italy: Conad launches online supermarket delivery
Italy: Coop Italia launches range dedicated to home cooking
Netherlands: Ahold Delhaize reports strong growth in Q4
Netherlands: Emté to be sold to Jumbo and Coop in €410 million deal
Spain: DIA
… sales up 1.5% in 2017
… and Caixabank launch consumer finance offering
Spain: Eroski extends franchise network with 55 openings in 2017
Sweden: Coop Sweden sees sales rise whilst profits fall
UK: Aldi UK CEO leaves role for promotion to board
UK: Asda sales edge up 0.5% in Q4
UK: Co-op to launch mobile payment app to cut queues
UK: Hotel Chocolat sees strong revenue and profit growth
UK: McColl’s sales boosted by store acquisitions
UK: Tesco
… Booker shareholders advised to vote against Tesco merger
… Tesco-Booker merger approved by shareholders
… completes Booker merger
… plans to open discount chain
NEWS ANALYSIS – CLOTHING AND FOOTWEAR
Germany: Hugo Boss extends CEO tenure after boost in full year sales
Italy: Profits more than triple at Aeffe for 2017
Netherlands: Uniqlo to open in Amsterdam
Sweden: H&M issues profit warning
UK: Edinburgh Woollen Mill buys supplier Berwin & Berwin
UK: Jigsaw CEO quits ahead of possible stake sale
UK: Missguided
… makes mannequins body-positive with stretch marks
… to cut jobs
UK: Mothercare issues profits warning
UK: N Brown names Matt Davies as chairman
UK: New Look
… closes 60 stores as part of rescue deal
… seeks 60% store rent reduction as it seeks CVA
… to ask landlords for rent reductions
… vetoes £12 million executive pay and plans to cut 60 stores
UK: Poundland accelerates Pep&Co expansion
UK: Primark sales fall
UK: Topshop to not take part in London Fashion Week
NEWS ANALYSIS – HOME AND HOUSEHOLD GOODS
 CARPET RETAILING
UK: Carpetright issues profit warning and enters talks with banks
 DIY RETAILING
France: Kingfisher announces job cuts in France
UK: Bunnings UK & Ireland suffers losses of £97 million
UK: Grafton Group buys Leyland SDM
UK: Travis Perkins sales rise but inflation and investment bites into profit
 ELECTRICAL RETAILING
France: Fnac Darty revenue edges up in 2017
Netherlands: Coolblue annual sales increase 39%
UK: Maplin
… announces 63 head office redundancies
… looks for a buyer
… Maplin and Edinburgh Woolen Mill look for rescue deal
 FURNITURE RETAILING
UK: IKEA offers 100% renewable energy tariff as it joins Big Clean Switch
UK: Loaf expands outside of London
UK: Steinhoff International reports 6% decline in UK sales
 HOMEWARES RETAILING
UK: Dunelm sales rise 18.4% in H1
UK: House to enter the UK
UK: Laura Ashley Christmas sales fall
NEWS ANALYSIS – ONLINE
UK: Shop Direct appoints new CEO
UK: Ocado improves payment fraud detection
NEWS ANALYSIS – OTHER RETAIL
 BOOK AND STATIONERY RETAILING
UK: Clintons’ parent company sells majority stake
UK: Smiggle to open on London’s Oxford Street
 DEPARTMENT STORES
UK: Debenhams
…to rent out store space to office workers and partners with Maisons du Monde
… to trial click, try and buy scheme
UK: House of Fraser owner sells shares in business
UK: John Lewis Partnership sales rise but profits dive in 2017
UK: Liberty appoints new CFO from Debenhams
 LUXURY
France: Kering operating income at highest ever levels
Italy: Yoox Net-A-Porter profits hit by higher costs but sees revenues soar in 2017
UK: Burberry
… appoints new chief creative officer
… teams up with Farfetch
UK: Olivia Burton to open first UK store
 SPORTS AND LEISURE GOODS RETAILING
UK: Sports Direct
… examines potential supply deal with Findel
… increases stake in Debenhams
 TOYS AND GAMES RETAILING
UK: Toys R Us
… given deadline ahead of tax bill
… enters administration as Maplin holds on
 SHOPPING CENTRES
Europe: Intu income edges up over the year
UK: Hammerson income rises as Intu merger edges closer
UK: Mercedes-Benz opens pop-up in Meadowhall
NEWS ANALYSIS – ECONOMY
Poland: Sunday trading ban comes into force
UK: Food boosts retail sales in February
UK: Footfall tumbles on the high street but rises in retail parks
UK: Inflation unchanged at 3% despite slowdown in food prices
UK: January retail sales rise 3.6%
UK: Shop prices fall in February

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