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European Retail Briefing -  May 2019

ANALYST COMMENT – RETAILERS FACE UP TO THE FASHION INDUSTRY'S RETURNS PROBLEM
What we've seen
ASOS and Zalando look to reduce misuse of returns
Figure 1: ASOS Customer Email, 30th March 2019
Consumer research highlights the extent of the problem
The rise in online purchasing is exacerbating the issue
Using innovation to reduce consumer returns
What it means
EUROPEAN RETAIL SALES
Key points
Figure 2: Major European economies:  Year-on-year retail sales value growth, 2018-19
Figure 3: Major European economies:  Year-on-year retail sales volume growth, 2018-19
Inflation
Figure 4: Major European economies:  All items CPI, 2018-19
Figure 5: Major European economies:  Food price inflation, 2018-19
LAUNCH ACTIVITY AND INNOVATIONS
France: Auchan trials new store without staff
France: Carrefour testing discount hypermarket format
Germany: Lidl tests loyalty app in Germany
France: Fnac Darty to expand into well-being category
HEADLINES FOR THE MONTH
Grocers
Clothing retailing
Electrical retailing
Home Shopping
Sports and leisure goods retailing
NEWS ANALYSIS – FOOD AND DRINK
 GROCERS
France: Carrefour
…investing in store digitization
…performs better than expected in first quarter
France: Casino expands partnership with Amazon
Germany: Edeka
…announces plans to improve its operations in several areas
…FY2018 sales reach €53 billion
…to expand its organic range
Italy: Despar to continue expansion in 2019
Italy: Lidl Italia opens store complete with an urban garden in Turin
UK: Morrisons
…Q1 like-for-like sales up by 2.3%
…Ocado and Morrisons agree to suspend capacity at Erith CFC
UK: Sainsbury’s
…CMA blocks proposed Sainsbury's-Asda merger
…profits challenged by Asda merger blow
…to start using the Evie electric van for grocery deliveries
…opens first checkout-free grocery store in London
…British Land sells 12 Sainsbury’s stores for £429 million
UK: Tesco
…posts increase in full-year profits
…to offer 50% discounts for birthday loyalty scheme
…to sell Jack's products to compete with discounters
…urges online sales tax to fund business rates cut
UK: Waitrose
…brings pineberries back to its shelves
…launches gin tasting experience
…launching premium frozen food range
UK: Walmart mulls Asda sale after failed Sainsbury's merger
 OFF-LICENCES
UK: Majestic Wine to sell up to 200 sites
NEWS ANALYSIS – CLOTHING AND FOOTWEAR
Germany: Bonprix see its turnover increase for the tenth consecutive year
Italy: Benetton to open a number of new stores in Italy this year
UK: Arcadia set for crunch CVA meeting
UK: Bonmarché says Philip Day takeover offer undervalues the business
UK: Burberry abandons plans for Leeds manufacturing site
UK: H&M collaborates with Netflix on Stranger Things range
UK: Hugo Boss Q1 profits drop but sales forecast remains optimistic
UK: Instagram fashion star set to open pop-up store in Belgravia
UK: Monsoon & Accessorize potentially on the verge of launching a CVA
UK: New Look finishes debt restructure
UK: Next sales up 4.5% during its first quarter
UK: Poundland to extend its Pep&Co clothing range
UK: Primark
…considering click and collect service
…opens its biggest store to date in Birmingham
UK: Quiz revenue increases by 12% but falls short of expectations
UK: Select officially enters administration
UK: Superdry issues another profit warning
UK: Ted Baker appoints former retail HR director to board
 FOOTWEAR RETAILING
UK: LK Bennett to close 15 stores under new ownership
UK: Topshop unveils 100% vegan shoe line
 DEPARTMENT STORES
UK: Bennetts department store saved from collapse
UK: Debenhams
…CEO to stand down
…22 stores due for closure
UK: House of Fraser is to turn up to seven stores into a new luxury mini-chain
UK: John Lewis dominates customer satisfaction awards
UK: Selfridges
…palm oil free ahead of target
…promotes Alannah Weston to chair of the department store group
NEWS ANALYSIS – HOUSEHOLD GOODS
 DIY RETAILING
UK: Homebase narrows half-year losses as turnaround bears fruit
UK: Travis Perkins reports encouraging sales growth at Wickes and Toolstation
 ELECTRICAL RETAILING
Germany: Ceconomy to undergo a restructuring to cut costs
 CARPET RETAILING
UK: Carpetright reports trading in line with expectations
 FURNITURE RETAILING
UK: IKEA appoints new UK & Ireland boss
 HOMEWARES RETAILING
UK: H&M opens homewares concept store H&M Home in London
UK: Laura Ashley issues second profit warning
NEWS ANALYSIS – ONLINE
Germany: Zalando
…profits benefit from new returns policy
…reports strong revenue growth
UK: Angling Direct like-for-like sales up 28.5%
UK: Argos
…launches AR visual tool
…opens first self-service digital store
UK: Boohoo hails excellent full year results
UK: Gymshark's new funding round to value it at £500 million
UK: Made.com launches tech innovation lab
UK: N Brown profits grow despite a slip in sales
UK: Shop Direct's transfer deal to safeguard 200 jobs
NEWS ANALYSIS – OTHER RETAIL
 BOOK AND STATIONERY RETAILING
UK: Card Factory reports fall in profit
UK: The Works reports 13.2% increase in full year revenue
UK: WHSmith profits fall amid InMotion acquisition
 HEALTH & BEAUTY RETAILING
UK: Boots teams up with Fenty Beauty by Rihanna
UK: The Hut Group acquires Eclectic Hotel Group
 SPORTS AND LEISURE GOODS RETAILING
Europe: Asics European sales dip
UK: Berghaus commits major investment to its new product and innovation team
UK: Cotswold Outdoor owner launches CVA
UK: Sports Direct closes Wigan warehouse
 GARDEN CENTRES
UK: Wyevale
…announces changes to its loyalty scheme
…sells 31 garden centres to Dobbies
 SHOPPING CENTRES
UK: Coal Drops Yard to welcome new brands this summer
UK: Intu
…hit by store slump
…piloting in-store cashback app
…sells 50% stake in Derby shopping centre
NEWS ANALYSIS – ECONOMY
UK: March retail sales up by 4.4%
UK: Retail footfall rises in March
UK: Retail sales ‘below’ expectation for April
UK: Total retail advertising spend fell in 2018

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