European Retail Briefings - September 2006

Highlights: September 2006

Grocers
Clothing retailing
Multi-sector retailing
Electrical retailing
DIY retailing
News Analysis

Bakers (retail)
UK: Thorntons sees profits fall
Co-ops (retail)
UK: Co-op replaces 'divi' to entice customers
Convenience stores
UK: OFT may investigate Nisa/Costcutter
Grocers
China: Tesco to launch own brand
Europe: Ahold/Delhaize
�to merge?
�with Ahold prepared to accept Delhaize-appointed CEO
France: Carrefour profits in first half
France: Casino sees sales, earnings rise
Germany: Hawesko to open first discount store
India: Tesco India talks to end soon
Ireland: Tesco makes 5,000th price cut since May
Netherlands: Ahold encouraged by results
Netherlands: Laurus
�reveals first-half loss
�and loses CFO
Russian Federation: Magnit posts fivefold profit rise
Russian Federation: Pyaterochka
�shakes up management
�and reveals successful first half
UK: Asda
�announces �green� conference
�looks to premium shoppers
�and signs up Flintoffs
UK: Sainsbury's
�aims to close in on Tesco
�announces �green� packaging move
�and will sponsor Yahoo! Answers
UK: Lidl offers cut-price air fares
UK: Tesco
�launches Tesco Direct, upmarket clothing line
�trials TV channel
�bows to crisp makers' demand
�and sees new furniture catalogue delayed
UK: Morrison back in the black
US: Supermarket sales boost Kroger
US: Tesco thinks big
Clothing retailing
Czech Republic: Peacocks to move into Czech Republic
Europe: A New Look for central Europe?
Hong Kong: Esprit posts record results
India: Next to make India move
Italy: Positive first half revealed by Benetton
Spain: Inditex
�to sell Often stores
�as H1 profit climbs 20%
UK: Topshop
�cleared for US launch
�and announces Kate Moss design deal
UK: Austin Reed
�rejects offer
�and returns to profit
UK: Jacques Vert, Alexon mull sales
UK: Fat face reveals fine full year
UK: French Connection woes continue in first half
UK: Clothing sales up at Matalan
UK: Monsoon creates a storm with Sophie Ellis-Bextor
UK: Mosaic heads towards �800m float
UK: River Island sues Debenhams
UK: ABF updates Primark trading
UK: Next
�to open first Lime store soon
�and posts turnover, profit rise
Footwear retailing
UK: Stylo appoints Spitz
Multi-sector retailing
Australia: Coles Myer
�announces bumper profit
�and rejects bid
China: Wal-Mart turns red with first Communist branch
Europe: Metro wins trademark triumph over Tesco
France: LVMH continues good form
France: PPR sees sales, income grow
Germany: Rewe
�to invest �1bn on building and modernisation
�as Egner leaves
Russian Federation: Metro to add 15 Russian outlets
Spain: El Corte Ingl�s sees successful year
Switzerland: Jelmoli moves out of the red
UK: GUS
�announces Argos credit card with Barclays
�then renames ARG, updates Argos/Homebase trading
UK: Woolworths
�faces break-up plan, buys THE
�plans portfolio shake-up
�and sees woes continue
UK: Laura Ashley reports strong like-for-likes
UK: M&S to add electrical departments
US: Wal-Mart to reduce packaging
Department stores
UK: Debenhams reveals full-year sales growth
UK: Baugur seals House of Fraser deal
UK: John Lewis continues good form
UK: Liberty suffer further losses
Electrical retailing
Denmark: DSG buys F-Group stake
Germany: Philips, Metro staff investigated for bribery
UK: DSG
�drops Dixons Warehouse trial
�launches 'The TechGuys'
�exits VoIP market
�and sees sales increase
US: Best Buy sees second quarter success
US: Carphone targets the US (gprice)
US: Circuit City Q2 profits leap
Homewares retailing
UK: Dunelm set to float, reports strong sales
Home shopping
UK: Ocado appoint BBC chairman sparking float rumours
UK: Asos to launch magazine
UK: Otto UK reports full year sales slump
UK: Like-for-likes up at Ideal
Health and beauty retailing
Ireland: Boots plans Irish expansion
UK: Boots launches Soap & Glory
UK: Body Shop goes online
Book and stationery retailing
UK: Foyles to open Selfridges concessions
UK: WH Smith
�to roll out sandwiches
�and satisfies demerger conditions
US: Borders UK division continues to struggle
Jewellers
UK: Signet
�abandoned by private equity Bidders
�but shines on, rejecting Ratner overtures
�puts Ernest Jones online
�and receives �350m Ratner offer
UK: Carmody in at Theo Fennell
Garden centres
UK: Permission granted for Dobbies expansion
DIY retailing
Romania: Baumax looks to expand in Romania
UK: Kingfisher
�sees UK performance hit results
�announces B&Q Warehouse revamp
�and launches Hire a Handyman service
UK: Travis Perkins appoints new Wickes MD
US: Home Depot to hire 1,000 new employees
Carpet retailing
UK: Woes continue at Floors 2 Go
Furniture retailing
China: Ikea changes Chinese approach
UK: Losses continue for Homestyle
UK: MFI sells struggling furniture chain for a pound
Toys and games retailing
Australia: Game grabs the Wizards Down Under
US: Toys R Us sells 44 stores
Economic News

Australia: Retail sales rise again
China:
�targets 11% retail sales growth until 2010
�and sees retail sales up across the board
Germany: Retail sales flat year-on-year
Hungary: Retail sales climb 4.4%
Italy: June sees retail rise
Japan: Retail sales hit by weather
UK: Bumper August for retail, says CBI
UK: Retail sales outlook uncertain, says BRC
UK: Retail sales up in August, says ONS
Market Analysis: Books, Music and Video Retailing in Europe

Overview of the European Books, Music and Video market
Books � could a change in legislation boost sales?
Music � death of the market or just the CD?
Video � DVD boom counters death of VHS.
Books dominate the sector
Figure 1: European books, music & video market, by major product category, 2003
DVD market much stronger in the UK
Figure 2: Europe: Book, music & video market, % of sales by category, 2003
UK closes in on Germany
Figure 3: European book, music & video market, by product category & country, 2003
Per capita, Irish are the big spenders
Figure 4: Europe: Books, music & video spending per capita, by country, 2003
Figure 5: European book, music and video market, by product category and country, 2003
Fnac�s French dominance ensures its European supremacy
Figure 6: Europe: Leading identified book, music & video specialists, 2003
Retailers struggle outside domestic markets
Figure 7: Europe: Leading identified retailers� market shares, 2003
Leading paid-for music download sites
Figure 8: Europe: Selection of leading music download sites, April 2005
The German book, music and video market
Figure 9: Germany: Consumer spending on books, music and video, 2003
Figure 10: Germany: Consumer spending on books, music and video, 2003
The UK book, music and video market
Figure 11: UK: Books, music & video market, 1999-2003
Figure 12: UK: Spending on books, music and video as % of total spending, 1999-2003
Company Profile: Free Record Shop

Bare facts
Financial performance
Figure 13: Free Record Shop: Financial performance, 1999/2000-2003/04
Figure 14: Free Record Shop: Estimated sales per country, 2003/04
Products
E-commerce
Store portfolio
Figure 15: Free Record Shop: Outlet data, 1999-2005
What does the future hold?