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European Retail Briefing - September 2018

ANALYST COMMENT – BUDNI VENTURES OUTSIDE OF HAMBURG
What we’ve seen
From Hamburg to Berlin
Figure 1: Budnikowsky store finder, September 2018
Figure 2: Budni Berlin, external view, September 2018
Figure 3: Budni Berlin, internal view, September 2018
Entering a crowded market
Figure 4: Local competition around the Schönhauser Allee, September 2018
Figure 5: Dm drogerie markt, Schönhauser Allee, September 2018
A sector enjoying steady growth
Figure 6: Health and Beauty specialists, sales (excl. VAT), 2013-18
But these are challenging times
Figure 7: Leading health & beauty specialists, sales (excl. VAT), 2017
What it means
EUROPEAN RETAIL SALES
Key points
Figure 8: Major European economies:  Year-on-year retail sales value growth, 2017-18
Figure 9: Major European economies:  Year-on-year retail sales volume growth, 2017-18
Inflation
Figure 10: Major European economies:  All items CPI, 2017-18
Figure 11: Major European economies:  Food price inflation, 2017-18
LAUNCH ACTIVITY AND INNOVATIONS
Belgium:  Delhaize first Belgian retailer to introduce Nutri-Score food label
Sweden: ICA launches new service to help customer’s lower carbon footprint
Denmark: Bauhaus trials electronic shelf label project in Denmark
Belgium: Blokker launches temporary outlet formula Black Blokker in Belgium
HEADLINES FOR THE MONTH
Convenience stores
Grocers
Clothing retailing
DIY retailing
Furniture retailing
Home shopping
Health & beauty retailing
NEWS ANALYSIS – FOOD AND DRINK
 CONVENIENCE STORES
France: Carrefour appoints new executive director for convenience stores
UK: McColl’s Q3 like-for-like sales down 0.9%
 GROCERS
Greece: SPAR International to open 80 stores in Greece
Netherlands: Coop begins its conversion of Emté stores
Netherlands: Dutch grocer Jumbo takes over Smulweb
Netherlands: Intergamma appoints new CFO and COO
Poland: SPAR Poland sees 15% increase in turnover in first half
Russia: Russian retailer Lenta opens new supermarket
UK:  Iceland to take over 19 Poundworld stores
UK: Aldi promotes communications boss to new role of group director
UK: Asda
…axes price guarantee
…reports fifth consecutive quarter of sales growth
UK: Jamie Oliver to join Tesco to help encourage healthy eating for customers
UK: Sainsbury’s
…Asda merger given green light by major shareholder
…CMA investigation into Sainsbury’s Asda merger officially launches
…300 stores could be shut in Sainsbury’s Asda merger
…piloting till-free mobile payments
UK: SPAR UK launches nationwide Sparbecue campaign
NEWS ANALYSIS – CLOTHING RETAILING
France: Lanvin acquires new CEO from rival Sandro
Spain: Mango annual sales decline
UK: Boux Avenue launches activewear range
UK: Burberry to stop destroying unsaleable products and impose fur ban
UK: Edinburgh Woollen Mill pulls all House of Fraser concessions
UK: Fat Face reports 7.4% rise in sales in its full year
UK: Jack Wills
…enlists retail expert Rob Templeman
…founder Peter Williams leaves
UK: Luke 1977 to open Cheltenham store
UK: Major fire destroys Primark’s flagship Belfast store
UK: Next opens on its largest UK stores at Intu Merry Hill
UK: Quiz clothing hit by £400,000 House of Fraser debt repayment
UK: River Island launching homeware collection
UK: Saltrock acquired by Crew clothing
UK: Topshop announces next designer collaboration
 FOOTWEAR RETAILING
UK: Footasylum warns on profit
NEWS ANALYSIS – MIXED GOODS 
UK: Neil Feakins hired as Wilko’s new customer insight and data director
UK: Poundland
…launches own-brand skincare range
…like-for-likes grow despite trouble at parent company
UK: Poundworld brand could be saved
NEWS ANALYSIS – MULTI-SECTOR
UK: M&S
…hire Jeremy Pee for newly created digital role
…implemented latest round of store closures
 DEPARTMENT STORES
UK:  Debenhams
…appoints Rachel Osborne as new CFO
…launches rebrand in an attempt to modernize
…shares rise following Mike Ashley’s House of Fraser deal
…to roll out Doddle click and collect points
…up to 90 redundancies to be made across Debenhams fashion and homewares division
UK: Fenwick cut 408 jobs
UK: Ex-Booths CEO hired as Harrods new food and home director
UK: Harvey Nichols rebrands as Holly Nichols for September
UK: House of Fraser
…bought by Sports Direct for £90m
…cancels all online orders
…Oxford Street store saved from closure
…website offline following warehouse dispute
…collapse expected to cost Mulberry £3 million
…property plan details revealed
…Mike Ashley to keep 80% of House of Fraser department stores open
…The Gym Group to snap up empty House of Fraser stores
…reaches deal with warehouse operator XPO
…warehouses close again
…XPO warehouses re-open
UK: John Lewis
…cuts 270 jobs as it undergoes rebrand
…may take £50 million hit to profits after cutting prices this summer
NEWS ANALYSIS – HOUSEHOLD GOODS
 DIY RETAILING
France: Castorama sales down 4.1% in second quarter
Netherlands: Intergamma appoints new CFO and COO
UK: B&Q like-for-like growth up 3.6% in second quarter
UK: Homebase
…confirms intention to shut 42 stores
…11,000 jobs at risk as Homebase votes on CVA
…42 Homebase stores to shut as CVA approved
…landlords in discussion regarding legal action over CVA
…Amazon eyes Homebase stores to boost delivery business
 ELECTRICAL RETAILING
UK: Dixons Carphone like-for-like revenue flat
UK: GAME Digital reports small dip in revenues
 FURNITURE RETAILING
Germany: Steinhoff sell its German furniture chain POCO
UK:  Sofology launches £22 million CGI ad campaign
UK: Harveys launches first ever celebrity partnership with Louise Redknapp
UK: Laura Ashley total like-for-like retail sales down 0.4%
 HOMEWARES RETAILING
Belgium: Blokker expands with baby equipment and scratch cards
UK: Fearne Cotton to launch collaboration with Cath Kidston
NEWS ANALYSIS – ONLINE 
Belgium: Belgium foam rubber manufacturer Recticel to sell its own mattresses online
Netherlands:  Moonpig owner acquires Dutch rival
UK: Amazon under fire for next day delivery claim
UK: Argos launches Google voice shopping service
UK: Notonthehighstreet.com swings to profit despite sales fall
UK: The Cotswold Company appoints former HMV CEO Ian Topping as chairman
UK: The Hut Group valuation hits £4bn with plans for another acquisition
NEWS ANALYSIS – OTHER RETAIL
 HEALTH & BEAUTY RETAILING
Germany: Douglas completes acquisition of Parfumdreams
Germany:  L'Oreal buys organic Logocos Naturkosmetik company
UK: Superdrug
…targeted by hackers
…botox and cosmetic procedures to be available in Superdrug stores
 BOOK AND STATIONERY RETAILING
UK: Office Outlet
…announces CVA proposal
…CVA is approved
UK: Waterstones buys rival bookstore Foyles
UK: WHSmith travel arm drives full-year performance
 SPORTS AND LEISURE GOODS RETAILING
UK: Sports Direct shareholders advise to vote against Mike Ashley at AGM
 JEWELLERS
UK: Robin Phillips appointed CEO at Watch Shop
 GARDEN CENTRES
UK: Wyevale sells another four of its garden centres
 OPTICIANS
UK: French optician to launch in the UK
UK: Selfridges opens largest eyewear department in UK
 TOYS AND GAMES RETAILING
UK: Six Toys R Us stores expected to go for £40 million
 MISCELLANEOUS SPECIALIST RETAILING
UK: Away opening first international store at Seven Dials
UK: Halford sales rise following summer boost
NEWS ANALYSIS – ECONOMY
UK:  British Retail Consortium
…September Indian Summer could cost retail £320 million
…August retail sales increase driven by groceries
…shop prices rise for the first time in five years
UK: CMA launch investigation into social media influencers
UK: July retail sales up by 5.5%

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