European Retail Briefings - August 2008

European Retail Briefings - August 2008

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.
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Contents

Highlights: August 2008
Grocers
Multi-sector retailing
Clothing retailing
Department stores
Electrical stores
News Analysis
Bakers (retail)
UK: Thorntons sees FY LFLs climb
Co-ops (retail)
UK: Co-op
… poised to acquire Somerfield in £1.6bn deal
… wraps up Somerfield for £1.56bn
… CEO says "Times will get worse before they get better"
Grocers
Belgium: Delhaize
… considers Eastern European acquisitions
… slashes outlook for 2008
… sees H1 sales up 4.1%
… receives approval for La Fourmi acquisition
Europe: Auchan's Spanish unit acquires Galerias Primero
France: Auchan signs JV agreement with Dubai World's Nakheel
France: Carrefour
… sales rise in H1, LFLs drop at hypermarkets
… sees Arnault up stake
… shareholders to vote on management structure
… shareholders criticise chiefs
… dispels rumours of search for new CEO
Italy: Esselunga to join AMS Sourcing from 2009
Netherlands: Ahold posts Q2 results
Netherlands: Schuitema
… posts 15.2% H1 profit rise
… posts H1 rise in sales
Netherlands: Spar continues expansion despite tightening market conditions
Russian Federation: X5
… H1 sales up
… to retain Karusel brand for its hypermarkets
Sweden: Axfood
… posts H1 results
… sees seven-month sales rise
UK: Grocers
… admit to using human sewage as fertiliser
… warned to cut plastic bags by 70%
… compete to give the best petrol price
… fined in cigarette price probe
UK: Asda
… says: “Average family is £9 a week worse off than in 2007”
…rolls out property website
… cuts petrol prices again
UK: Lidl to ramp up UK store development programme
UK: Morrisons creates family meal for £4
UK: Sainsbury’s sees Tchenguiz up stake
UK: Tesco
… joins low-cost school uniform war
… develops new own-brand range to counter 'Aldi effect'
… launches first Argos-style shop-in-shop
… takes full ownership of TPF financial services
… completes Dobbies acquisition
US: Whole Foods Market eyes Irish move
Off-licences
UK: Oddbins sold to shareholder consortium led by ex-MD's son
Clothing retailing
UK: Fat Face sees sales rise
UK: Jacques Vert sees FY profit fall
UK: Jaeger boss considers takeover of Austin Reed
UK: New Look and Debenhams to enter Egyptian market
UK: Primark drives ABF growth in Q3
UK: River Island
… sees FY profits drop
… to break into Russian market
Footwear retailing
UK: Phoenix acquires LK Bennett
Mixed goods retailing
UK: Instore rejects Seaham's £11.4m takeover bid
UK: Mothercare posts Q1 results
UK: Woolworths warns H1 results will be lower than expected
Multi-Sector retailing
Austria: Tengelmann to convert Plus stores to Zielpunkt name
Finland: Kesko
… sees H1 sales rise
… sees Q2 profits fall
Finland: Stockmann sees Q2 profits more than double
Germany: Douglas Holding reports Q3 losses
Germany: Metro
… denies rumours of Haniel’s plans to increase stake
… H1 profit to be hurt by Adler writedown
… reports 7.1% rise in H1 sales
UK: Marks & Spencer
… mystery stake builder emerges
… pulls out of Taiwan
… bag-charging scheme deemed a success
… slashes schoolwear prices
Department stores
France: Printemps embarks on 4-year revamp project
UK: Beales rejects tender offer
UK: Debenhams
… and New Look to enter Egyptian market
… rumoured to be object of Baugur takeover bid
UK: John Lewis’ sales edge ahead
DIY retailing
Finland: Kesko
… reports H1 sales rise
… sees Q2 profits fall
UK: Homebase gets the go-ahead for purchase of 27 Focus stores
UK: Kingfisher
… reports Q2 results
… to sell off Castorama Italy
UK: Topps Tiles sees 17-week sales decline
UK: Travis Perkins sees H1 profits fall
Electrical retailing
Europe: DSGi plans strategic review of Italian and Spanish stores
UK: Best Buy plans aggressive UK store roll-out
UK: Carphone reports Q1 results, chiefs resign & Best Buy deal finalised
Carpet retailing
France: Allied Carpets posts FY loss for 2007
UK: Carpetright posts fall in Q1 LFLs
UK: Floors-2-Go
… looks for new investors
… enters into administration
Furniture retailing
UK: Ikea
… replaces poached UK CEO
… launches mobile phone service to shoppers
UK: Ilva furniture stores close
UK: Land of Leather investors give £15m refinancing the go-ahead
UK: MFI brings in KTH for restructuring
Home shopping
UK: Ocado to expand after sales reach £1bn
UK: WCC considers investing in Flying Brands
Health and Beauty retailing
Germany: Celesio posts worse-than-expected Q2 profits, issues profit warning
UK: Boots close to finalised deal with Reliance Retail
Sports and leisure goods retailing
UK: Blacks sales fall
UK: JJB reports fall in Q2 LFLs
UK: Sports Direct profits plummet
Jewellers
UK: Signet to de-list in UK and move to Bermuda
Toys and games retailing
UK: Games Workshop posts FY pre-tax profits up
Miscellaneous specialist retailing
France: LVMH's H1 profits rise 7%
France: PPR sees Q2 sales rise
UK: Halfords reports Q1 results
Economic News
Australia: Retail sales drop in June
China: H1 sales surge 21.4%
Hungary: Retail sales fall in May
Ireland: Retail sales hit 21-year low in May
Poland: Retail sales rise in June
Spain: Retail sales in June drop 7.9% month-on-month
Sweden: Retail sales up 3.3% in June
UK:
…BRC reports July retail sales up 1.7%, LFLs down 0.9%
…CBI: July retail sales fall, August outlook bleak
…ONS: June sales growth slows
Market Analysis: Luxury Goods Retailing
The European luxury goods market
Market size
Regions
Products
Channels of distribution
The competitive landscape
Leading players
Fashion and Leather Goods
Figure 1: Global luxury fashion and leather goods market: Estimated market shares of leading brands, 2004 and 2007
Perfumes and cosmetics
Figure 2: Global luxury cosmetics and perfumes market: Estimated market shares of leading brands, 2004 and 2007
Jewellery and Watches
Figure 3: Global luxury jewellery and watches market: Estimated market shares of leading brands, 2004 and 2007
The future
What’s next?
Forecasts
Figure 4: Global luxury goods: Estimated market sizes, 2004-10
Outlook
Company Profile: Christian Dior Couture
Figure 5: Christian Dior couture: Share of global luxury goods market, 2004-07
Strategic evaluation
Background
Ownership
Financial performance
Figure 6: Christian Dior Couture: Financial performance, 2003-07
Figure 7: Christian Dior Couture: Revenue by business sector, 2003-07
Figure 8: Christian Dior Couture: Retail revenue by geographic region, 2003-07
Distribution
Figure 9: Christian Dior Couture: Outlet numbers, 2003-07
Figure 10: Christian Dior Couture: Store coverage by geographic region, 2008
Brand offering
Market positioning and values
Product offer
Marketing