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Introduction

Following a poor 2005, out-of-town retailers enjoyed a recovery in 2006 - their sales increased by 4.9%. A solid improvement in performance across the largest out-of-town categories underpinned the uplift. This report examines the latest changes in out-of-town retail. It details market sizes and trends, key issues, five year forecasts and profiles key retailers in the sector.

Scope

Analysis of the out-of-town market and the major out-of-town retail sectors and key players. Insight into the key retail issues currently influencing the UK out-of-town sector. A comparison of the leading 12 UK out-of-town retailers' performance. A five year out-of-town market value and growth forecast including detailed analysis and future outlook.

Highlights

Out-of-town retailers enjoyed a recovery in 2006 following a challenging 2005. All sales through out-of-town stores increased by 4.9% during the year. That growth was more than twice the pace achieved by the town centre channel. A solid improvement in performance across the largest out-of-town retail categories underpinned the uplift. But further expansion out-of-town by traditional high street players also lifted the market. However, the outlook for the next five years looks relatively modest in comparison to its buoyant past performance. We forecast growth over the next five years of 26.0%. This compares with 30.4% between 2001 and 2006.

Reasons to Purchase

Identify key issues in out-of-town retailing, such as planning legislation, rent inflation and consumer confidence and changing retailer strategies. Track the out-of-town sector's performance as a whole, and by individual sector both over the last decade and its forecast performance. Access the key market data showing how out-of-town compares against other retail channels such as online, high street and neighbourhood shops.

TABLE OF CONTENTS
CHAPTER 1 EXECUTIVE SUMMARY 14
Key Findings 14
Main Conclusions 16
CHAPTER 2 MARKET ANALYSIS 20
Market Definitions 20
Out-of-town Summary 22
Retail Spending by Location 24
Out-of-town Retail Sales 25
Retail Sales by Location 26
Sales and Sources of Growth 27
Store Numbers by Location 29
Floorspace 30
Sales Densities 31
OOT Sales by Sector 33
OOT Store Numbers by Sector 34
OOT Space by Sector 35
OOT Store Size by Sector 36
CHAPTER 3 RETAIL ISSUES 37
Key Messages 37
Clothing Retailers to Drive Out-of-town Space Growth 38
Target Further Out-of-town Space Expansion 40
Mezzanines Continue to Deliver Space Growth 42
Rental Inflation Moderates 43
• Subdued Demand from Large Out-of-town Occupiers 44
Secondary Space in Oversupply 45
Town Centre Competition to Intensify 46
Online Remains Buoyant 47
CHAPTER 4 COMPANY DATA ANALYSIS 48
Sales Performance 48
Share of OOT Sales 52
Space 54
Space Growth 56
Store Numbers 58
Profits & Margins 61
Retailer Profits 61
Retailer Operating Margins 62
Sales Densities 64
Advertising 67
CHAPTER 5 FORECAST & OUTLOOK 68
Sales Summary 68
Sales by Sector 71
Sector Sales Growth 73
OOT Shares of Consumer Spending by Sector 74
Store Numbers 75
Selling Space 78
New Space 79
Sales Densities 79
CHAPTER 6 CLOTHING & FOOTWEAR RETAILING 81
Overview 81
Sales Values 81
Store Numbers 83
Floorspace 84
Sales Densities 85
Key Players 86
Matalan 86
TK Maxx 87
New Look 87
Next 88
Other Clothing Specialists 88
Footwear Specialists 89
CHAPTER 7 DIY RETAILING 90
Overview 90
Sales Values 92
Store Numbers 93
Floorspace 93
Sales Densities 95
Market Shares 96
Key Players 97
B&Q 97
Focus 98
Homebase 99
Wickes 100
CHAPTER 8 ELECTRICALS RETAILING 102
Overview 102
Sales Values 103
Store Numbers 105
Floorspace 106
Sales Densities 107
Market Shares 108
Key Players 109
Comet 109
Currys 110
PC World 111
CHAPTER 9 FOOD & GROCERY RETAILING 112
Overview 112
Sales Values 113
Store Numbers 115
Floorspace 116
Sales Densities 118
Market Shares 119
Key Players 120
Tesco 120
Sainsbury 121
Asda 124
Morrison 126
CHAPTER 10 FURNITURE & FLOORCOVERINGS 127
Overview 127
Sales Values 128
Store Numbers 130
Floorspace 131
Sales Densities 132
Market Shares 133
Key Players 135
Allied Carpets 135
Carpetright 135
DFS 136
Homestyle 136
IKEA 137
MFI 138
CHAPTER 11 GENERAL MERCHANDISE RETAILING 140
Overview 140
Sales Values 142
Store Numbers 142
Floorspace 144
Sales Densities 145
Key Players 146
Argos 146
Alliance Boots 146
Halfords 147
JJB Sports 147
Toys R Us 148
Other General Merchandise Retailers 148
CHAPTER 12 GLOSSARY 151
Terminology 151
Abbreviations 152

LIST OF TABLES
Table 1: Retail location definitions 2007 20
Table 2: Out-of-town sales, space and store numbers 1996, 2001 & 2006 22
Table 3: Retail spending by location at current prices 1996-2006 24
Table 4: Out-of-town retail sales at current prices 1996-2006 25
Table 5: Sales through out-of-town retailers 1996-2006 27
Table 6: Sources of growth for out-of-town retailers 1996-2006 28
Table 7: Store numbers by location 1996-2006 29
Table 8: Floorspace out-of-town vs all stores 1996-2006 30
Table 9: Sales densities by location at current prices 1996-2006 31
Table 10: Percentage share of superstore/out-of-town sales by sector 1996 and 2006 33
Table 11: Percentage share of superstore/out-of-town store numbers by sector 1996 and 2006 34
Table 12: Percentage share of superstore/out-of-town space by sector 1996 and 2006 35
Table 13: Prime retail warehouse rent increases % by region 2001-2006 43
Table 14: Key OOT retailers UK turnover record 2001-2006 48
Table 15: Key retailers estimated share of OOT sales 2001-2006 52
Table 16: Key OOT retailers total selling space (000 sq ft) 2001-2006 54
Table 17: Key OOT retailers total store numbers 2001-2006 58
Table 18: Key OOT retailers operating profits 2001-2006 61
Table 19: Key OOT retailers operating margins 2001-2006 62
Table 20: Key OOT retailers overall sales densities 2001-2006 64
Table 21: Top 10 out-of-town retailers by advertising expenditure 2006 67
Table 22: Retail sales OOT vs total retail spending 1996-2011 69
Table 23: Out-of-town sales by sector 1996-2011 71
Table 24: Superstore/out-of-town sector shares of consumer spending 1996-2011 74
Table 25: Superstore/out-of-town numbers (% change) 1996-2011 75
Table 26: Superstore/out-of-town numbers by sector 1996-2011 76
Table 27: Y-o-Y change % in superstore/out-of-town store numbers by sector 1996-2011 77
Table 28: Superstore/out-of-town selling space (000 sq ft) by sector 1996-2011 78
Table 29: Superstore/out-of-town sales densities by sector 1996-2011 80
Table 30: Clothing & footwear specialists out-of-town sales values 1996-2006 82
Table 31: Clothing & footwear specialists out-of-town store numbers 1996-2006 83
Table 32: Clothing & footwear specialists out-of-town space 1996-2006 84
Table 33: Clothing & footwear specialists out-of-town sales densities 1996-2006 85
Table 34: DIY/hardware specialists out-of-town sales values 1996-2006 92
Table 35: DIY/hardware specialists out-of-town store numbers 1996-2006 93
Table 36: DIY/hardware specialists out-of-town space 1996-2006 94
Table 37: DIY/hardware specialists out-of-town sales densities 1996-2006 95
Table 38: Leading retailers market share of DIY & gardening expenditure 2000-2006e 96
Table 39: Electricals specialists out-of-town sales values 1996-2006 103
Table 40: Electricals specialists out-of-town store numbers 1996-2006 105
Table 41: Electricals specialists out-of-town space 1996-2006 106
Table 42: Electricals specialists out-of-town sales densities 1996-2006 107
Table 43: Electricals market share trends 2001-2006 108
Table 44: Food & grocery specialists out-of-town sales values 1996-2006 114
Table 45: Food & grocery specialists out-of-town store numbers 1996-2006 115
Table 46: Food & grocery specialists out-of-town space 1996-2006 116
Table 47: Food & grocery specialists out-of-town sales densities 1996-2006 118
Table 48: Grocery market share trends 2001-2006 119
Table 49: Tesco store portfolio at February 2007 120
Table 50: Sainsbury store portfolio at October 2006 122
Table 51: Asda store portfolio at December 2006 124
Table 52: Morrison store portfolio at February 2007 126
Table 53: Furniture & floorcoverings specialists out-of-town sales values 1996-2006 129
Table 54: Furniture & floorcoverings specialists out-of-town store numbers 1996-2006 130
Table 55: Furniture & floorcoverings specialists out-of-town space 1996-2006 131
Table 56: Furniture & floorcoverings specialists out-of-town sales densities 1996-2006 132
Table 57: Furniture retailers market shares 2001-2006e 133
Table 58: Floorcoverings retailers market shares 2001-2006e 133
Table 59: General merchandise retailers out-of-town sales values 1996-2006 142
Table 60: General merchandise retailers out-of-town store numbers 1996-2006 143
Table 61: General merchandise retailers out-of-town space 1996-2006 144
Table 62: General merchandise retailers out-of-town sales densities 1996-2006 145


LIST OF FIGURES
Figure 1: Growth of retail sales by location 1996-2006 26
Figure 2: Sales densities by location 1996-2006 32
Figure 3: Average out-of-town store size 1996, 2001 & 2006 36
Figure 4: Key issues for out-of-town retailers 2007 37
Figure 5: Out-of-town five year space growth by category 2006-2011 38
Figure 6: Town centre space as a propotion of all space 2002-2011 46
Figure 7: Out-of-town vs online retail year-on-year growth rates 2002-2006 and forecast to 2011 47
Figure 9: Key OOT retailers total sales growth 2006 on 2001 50
Figure 9: Key OOT retailers total sales growth 2006 on 2005 51
Figure 10: Total space growth of key OOT retailers 2006 on 2001 56
Figure 11: Total space growth of key OOT retailers 2006 on 2005 57
Figure 12: Change in key OOT retailers store numbers 2006 on 2001 59
Figure 13: Change in key OOT retailers store numbers 2006 on 2005 60
Figure 14: Change in sales density % of key OOT retailers 2006 on 2001 65
Figure 15: Change in sales density % of key OOT retailers 2006 on 2005 66
Figure 16: OOT spending growth vs retail overall 1996-2011 70
Figure 17: OOT sector sales growth 2006-11 vs 2001-06 73
Figure 18: New OOT space 1996-2006 and forecast to 2011 79