European Retail Briefings

European Retail Briefings

About this report
European Retail Briefing is a monthly briefing providing news and analysis that includes company results, store openings, cross-border moves, M & A activities, executive changes and property developments. Additionally each month, European Retail Briefing focuses on a key issue or specific European retail sector. The month's retail news is then analysed sector by sector, making this an invaluable resource for all with an interest in the European retail industry.

Contents

Highlights: March 2007

Grocers
Multi-sector retailing
Clothing retailing
DIY retailing
News Analysis

Bakers (Retail)
UK: Greggs FY LFLs edge ahead
Convenience stores
Ireland: Musgrave reports strong 2006 sales
Grocers
Belgium: Delhaize FY profits up 12%
France: Carrefour
…sees renewed takeover speculation
…as FY sales rise; chairman resigns
…denies CEO resignation rumours
…and plans Russian stores
France: Casino FY profits surge 35% ahead
Netherlands: Ahold’s reveals impressive FY results
Netherlands: Laurus narrows FY losses
Portugal: Jerónimo Martins FY profit up 5%
Russian Federation: Magnit’s revenue increases in February
Russian Federation: X5 Retail 2006 sales jump 47%
UK: Asda
…launches stain free shirt
…considers closing George stores
…as the range comes home
UK: Kwik Save
…faces court decision on future
…before ending financial uncertainty
UK: Morrisons
…reveals image overhaul
…posts strong FY results; unveils makeover
…and plans £1bn store sale
UK: Sainsbury’s
…Lord Sainsbury strikes a blow to potential bidders
…watchdog issues Sainsbury's bid deadline
…CVC makes approach
…as Tchenguiz increases holdings
…while a Second consortium eyes a bid
…Tchenguiz increases stake again
…as the grocer gets cagey on eggs
…and reveals £3bn black hole in pension scheme
…so pension trustees look to open CVC talks
UK: Somerfield slides into the red
UK: Tesco
…faces calls for land sale
…raises £500m in two hours
…faces Wal-Mart hurdle
…and church criticism
…as it enters joint property venture with British Land
…and announces global Clubcard plans
UK: Suppliers line up to praise supermarkets
UK: Waitrose goes ethical on fish
US: Kroger boasts strong FY results
US: Tesco could spur US shopping evolution
Clothing retailing
Spain: Inditex like-for-likes jump for 2006
UK: Bijou Brigitte plans 300 UK stores
UK: Claire’s
…set to go to Apax for $3bn
…before Apax goes cold on deal
UK: Elle plunges into administration again
UK: Fat Face
…invites first-round bids
…before being sold for £360m
UK: French Connection reports disappointing results
UK: Monsoon issues profit warning
UK: Mothercare considers Chelsea Stores bid
UK: New Look set for £2bn sale
UK: Peacocks unveils £21.5m expansion plans
UK: Primark reports flat H1 like-for-likes
UK: River Island plans European expansion
UK: 2006 revenue up for Ted Baker
US: Gap
…to close Forth & Towne
…admits stifling designers' creativity
…and sees woes continue in Q4
Mixed goods retailing
China: Wal-Mart takes stake in Trust-Mart
UK: Home retail
…expands in India, Ireland
…and ends the year in style
UK: Woolworths sees chairman steps down
US: Dollar General acquired by KKR for $7.3bn
US: Target remains on track in Q4
US: Wal-Mart has no plans to split
Multi-sector retailing
Australia: Coles looks to attract Tesco bid
France: PPR FY profits up 28%
Germany: KarstadtQuelle
…to sell 27 stores
…and may purchase Home Shopping Europe
Germany: Rewe tackles climate change
Japan: Aeon purchases stake in Daiei
UK: Alliance Boots
…receives preliminary approach
…but snubs KKR bid
…as Merrill quits to work for Pessina
…as Boots signs up to Carbon Trust label
…while second suitor emerges
UK: HMV
…set to close 20 stores
…but sees recovery plan marred by profit warning
UK: M&S rules out Sainsbury's bid
UK: Next
…gets a makeover and a new range
…as like-for-likes fall
US: Sears FY comparable sales fall
Department stores
UK: Beales gives warning for 2007
UK: Debenhams
…to get Baugur bid?
…as H1 like-for-likes drop
UK: John Lewis reports stunning FY results
UK: Liberty reports £2.2m loss
US: Federated ends the year on a high
US: Saks sales soar under Sadove
Electrical retailing
UK: Kesa Electrical’s full-year results show growth
Homewares retailing
UK: Dunelm reveals ‘robust’ maiden results
Home shopping
UK: Full-year profits static for Flying Brands
UK: Ideal boasts strong sales rise in 2006
Health and beauty retailing
UK: Superdrug to roll-out new concepts
Book and stationery retailing
UK: Newsagents call for competition inquiry
US: Borders puts overseas business up for sale
Sports and leisure goods retailing
UK: Blacks closing 45 loss-making stores
UK: Sports Direct plans global expansion
Jewellers
UK: Bijou Brigitte plans 300 UK stores
Toys and games retailing
UK: Hamleys to test concessions in HoF
UK: Toyworld enters administration
DIY retailing
UK: Focus up for sale
UK: Kingfisher becomes latest private equity target
UK: Wickes suffers FY LFL decline
US: Lowe's woes continue in Q4
Economic News

Australia: Retail sales up in January
Europe: EU boasts strong sales in January
Germany: Retail sales fall in January
Japan: Retail sales fall again
UK:
Retail sales continue to grow in February, says CBI
Retail sales continue to grow in February, says BRC
Retail sales robust in February, says ONS
Market Analysis: Home Shopping in Europe

The European Home Shopping Market
Figure 1: Europe: Home Shopping Market, 2005
Market size by country
Figure 2: Europe: Home shopping market size by country, 2005
Figure 3: Europe: Home shopping market by major sales channel, 2005
Sales per capita
Figure 4: Europe: Home shopping sales per capita, by country 2005
Mail order
Figure 5: Europe: Estimated mail order catalogue sales, by country, 2005
Figure 6: Europe: Mail order catalogue sales as % of home shopping market, by country, 2005
Direct selling
Figure 7: Europe: FEDSA members’ turnover as % of total retail sales, 2001-05
Figure 8: Europe: FeDSA members’ sales, 2001-05
Figure 9: Europe: Fedsa members’ sales by market, 2001-05
Figure 10: Europe: FeDSA members’ sales by country, 2005
Television shopping
E-commerce
E-commerce to the rescue
The pros…
…and the cons
The multi-channel approach
The East/West divide
Broadband access by households
Figure 11: Europe: Share of households with broadband Internet access, 2006
E-commerce sales per capita
Figure 12: Europe: E-commerce sales per capita, 2005
Broadband = e-commerce, roughly
Figure 13: Europe: Share of households with broadband vs per capita e-commerce sales, 2005
E-commerce’ share of home shopping
Figure 14: Europe: E-commerce as % of home shopping market, 2005
Company Profile: Damartex

Background
Financial performance
Figure 15: Damartex Europe: Sales as share of non-store retailers’ sales in Europe, 2002-06
Figure 16: Damartex France: Sales as share of non-store retailers’ sales in France, 2002-06
Figure 17: Damartex UK: Sales as share of non-store retailers’ sales in UK, 2002-06
Figure 18: Damartex: Financial performance, 2001/02-2005/06
2005/06 results
Store portfolio
Figure 19: Damartex: Retail outlets, 2002, 2004 and 2006
e-commerce & home shopping
The future