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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: September 2007
Grocers
Multi-sector retailing
Clothing retailing
DIY retailing
News Analysis
Bakers (retail)
UK: Thorntons profits on the rise
Co-ops (retail)
UK: Co-op
…launches ethical consultation
…and sells struggling Shoefayre to rival
…as it reveals that food business was strong in H1
Grocers
Australia: Woolworths posts FY profits
Europe: Tesco to launch Express in Hungary and Czech Republic
France: Carrefour
…sees H1 profits rise, announces property overhaul
…and searches for Indian partner
France: Casino reports robust H1 sales growth
France: Romanian sales boost Hyparlo in H1
Germany: Aldi
…ups prices, Rewe and Plus follow suit
…and postpones entry into Poland
Italy: Esselunga to be bought by Rewe?
Netherlands: Ahold reports Q2 earnings
Netherlands: Laurus returns to profit in first half
Portugal: Auchan to invest €600m in Portuguese expansion
Portugal: Jeronimo Martins to invest €500m in Poland
Turkey: Migros Turk sells Ramenka stake
UK: Asda
…appoints former M&S director to run George
…as boss disagrees with Tesco’s green policies
UK: Morrisons’ profits jump in H1
UK: Sainsbury’s
…opens books to Delta Two
…before they enter talks with Sainsbury’s trustees
…and relaunces website
UK: Supermarkets accused of milking customers by OFT
UK: Tesco
…sees CC makes provisional ruling against Slough acquisition
…reveals plans to double Homeplus stores
…and pay farmers more for milk
…before launching car insurance comparison site
…and sustainable consumption institute
UK: Waitrose to invest £800m in new stores
United States: A&P completes sale of non-care assets
United States: Kroger increases LFLs in Q2
United States: Pathmark Q2 loss widens
United States: Safeway considers smaller format stores
United States: Supervalu remodels stores
United States: Whole Foods
…sees FTC lose appeal to block deal
…and gets Wild Oats for $565m
United States: Winn-Dixie reports improvement in FY results
Clothing retailing
Germany: Pohland sold to Aurelius
Hong Kong: Esprit sees full-year profit rise
Italy: Benetton H1 profit up 10%
Spain: Inditex
…to take Zara home division online
…and increases sales, profit in H1
Sweden: H&M increases LFLs by 2% in Q3
Sweden: Lindex
…reiterates rejection of KappAhl’s offer
…and sees Q4 LFLs rise
UK: ABF updates Primark trading
UK: Alexon reports jump in H1 profits
UK: Fat Face sees jump in profits
UK: French Connection loss narrows in H1
UK: Primark and Mothercare investigate sweatshop allegations
United States: Gap boosted by Q2 profits
United States: Guess? posts record Q2 results
United States: J. Crew returns to profit in Q2
United States: Liz Claiborne off-loads four brands
Footwear retailing
UK: Stylo narrows loss in H1
UK: Third of Qube stores to convert into Office
UK: Co-op sells struggling Shoefayre to rival
Mass-merchandisers
United States: Target considers sale of credit card business
United States: Wal-Mart
…tests trendy clothing line
…invests $200m in Brazilian expansion
…and mulls store format ahead of Tesco invasion
…before announcing green initiative
Mixed goods retailing
UK: Woolworths
…LFLs edge ahead in H1
…as Commission clears Woolworths-Bertram merger
Multi-sector retailing
Australia: Coles
…sees board accepts Wesfarmers’ offer
…and posts sales/profit decline
France: PPR reports 40% rise in operating income
Germany: Arcandor sees strong sales rise in Q2
Germany: Globus sees full-year sales rise
Germany: Metro chief steps down, appoints Eckard
Switzerland: Swiss competition watchdog backs Migros, Denner deal
UK: HMV reports promising start to financial year
UK: Mixed Q2 results for Home Retail
UK: Next profit up, LFLs down in H1
Department stores
UK: Debenhams predicts 5% drop in LFLs
UK: John Lewis
…ramps up online offer
…as H1 profits jump 51%
UK: Strong FY figures for Selfridges
United States: Dillard’s down in Q2
United States: Nordstrom posts sales rise in Q2
United States: Sears reports Q2 earnings tumble
Electrical retailing
Europe: Kesa sees profits fall in H1
Germany: Media Markt and Saturn gear up for expansion
UK: DSG reports sales growth in first quarter
United States: Strong Q2 results for Best Buy
United States: Circuit City loss widens in Q2
Home shopping
UK: Findel acquires Choices UK wholesale arm
Health and beauty retailing
UK: Body Shop founder dies
Book and stationery retailing
United States: Barnes & Noble Q2 boosted by Harry Potter
United States: Borders
…sees loss grow
…and sells UK stores
United States: Staples lawsuit to go ahead
Sports and leisure goods retailing
UK: Solid H1 performance for JD Group
UK: JJB issues profit warning
UK: Sports Direct
…sees trading remain ‘difficult’
…and acquires Nevisport
Jewellers
UK: Signet profit inches in H1
Garden centres
UK: Hunter ups ante in garden centre battle
Toys and games retailing
UK: Game Group back into the black in H1
United States: GameStop
…mulls larger stores
…and sees profits jump in Q2
DIY retailing
France: Auchan’s DIY chain branches out to Ukraine
France: Mr Bricolage reports strong H1
UK: Kingfisher
…posts strong H1
…as B&Q small stores review signals U-turn
…before Kingfisher announces B&Q revamp
United States: Lowe’s issues FY profit warning
Furniture retailing
Sweden: Ikea
…increases focus on Asia Pacific
…and reports strong FY sales growth
UK: Land of Leather increases FY profit
UK: Steinhoff reveals Harveys, Cargo results
Homewares retailing
UK: Dunelm FY profit up 7.8%
Dollar Stores
United States: Dollar Tree sees Q2 earnings rise
Economic News
Australia: Retail sales continue to climb
Germany: Retail sales fall year-on-year
Ireland: Weather hurts retail sales
Italy: Retail sales rise year-on-year
Japan: Retail suffers biggest drop for two years
Spain: Retail up on year, down on month
Sweden: Retail sales surge
UK:
Retail sales growth slowed in August, says CBI
Retail sales growth continues to slow in August, says BRC
Retail sales remain firm in August, says ONS
United States: American retail sales growth slows in August
Market Analysis: Clothing Retailing in Europe
Germany
Subdued consumer spending
Figure 1: Germany: Household consumer expenditure, 1995-2006
Clothing struggles to keep up
Figure 2: Germany: Consumer spending on selected categories, 2002-06
Price deflation
Figure 3: Germany: Consumer price index on selected products, 2000-06
France
Steady spending from households
Figure 4: France: Total household expenditure, 1999-2006
Clothing prices subdued
Figure 5: France: Consumer price index for selected goods, 2002-06
Clothing spend vs. retail
Figure 6: France: Index of total and clothing consumer spending growth against clothing retail sales growth, 2001-05
Figure 7: France: Consumer spending on selected categories of goods, 2001-05
Figure 8: France: Index of consumer spending growth in clothing and personal spending categories, 2001-05
Figure 9: France: Index of consumer spending growth in clothing and living categories, 2001-05
Figure 10: France: Index of consumer spending growth in clothing and electricals categories, 2001-05
Figure 11: France: Index of consumer spending growth in clothing and leisure categories, 2001-05
UK
Clothing holds up well
Figure 12: UK: Consumer spending on selected categories, 2002-06
Clothing market versus clothing specialists and all retail sales
Figure 13: UK: Index of consumer spending growth in clothing and all retail sales, 2002-06
Clothing versus other personal adornment and personal care categories
Figure 14: UK: Personal adornment & care categories as a percent of all consumer spending, 2002-06
Personal versus home ‘fashion’
Figure 15: UK: Index of consumer spending growth in clothing and selected home categories, 2002-06
Traditional recreation stands its ground
Figure 16: UK: Index of consumer spending growth in clothing and selected recreational categories, 2002-06
Spain
Consumer spending buoyed by booming housing market
Figure 17: Spain: Consumer expenditure, 1995-2006
Figure 18: Spain: Consumer spending growth, 1997-2006
Clothing a sluggish performer
Figure 19: Spain: Consumer spending on selected categories of goods, 2001-05
Some price inflation
Figure 20: Spain: Consumer price index for selected goods, 2001-06
Italy
Clothing market value and trends
Figure 21: Italy: Consumer spending on clothing, 2002-06
Figure 22: Italy: Consumer spending on selected categories of goods, 2002-06
Figure 23: Italy: Consumer spending index for selected goods, 2002-06
Company Profile: Esprit
Background
Financial performance
Figure 24: Esprit: Group financial performance, 2001/02-2005/06
Figure 25: Esprit: Sales performance by channel and region, 2001/02-2005/06
Figure 26: Esprit: Sales performance by region, 2001/02 and 2005/06
Store portfolio
Figure 27: Esprit: Outlet data, 2001/02-2005/06
Figure 28: Esprit: Store network by region and type, June 2006
Retail offering
Market positioning
Brands
Product offer
Figure 29: Esprit: Product mix, 2005/06
Pricing
e-commerce and home shopping