European Retail Correspondent
Mark's Feed
May 23, 2011

Roberto Cavalli keeps suitors waiting

LONDON (Reuters) – Italian fashion house Roberto Cavalli has a long line of suitors, but wants to deliver on its turnaround plan before looking at a sale or initial public offering, its chief executive said on Monday.

“We have a long queue that is coming to us, because they can smell there is something positive going on,” Gianluca Brozzetti told the Reuters Global Luxury and Fashion Summit in London.

May 22, 2011

Morrisons eyes Iceland Foods as auction under way

LONDON, May 22 (Reuters) – Wm Morrison (MRW.L: Quote, Profile, Research, Stock Buzz), Britain’s
fourth-biggest grocer, will look into buying Iceland Foods as an
auction for a controlling stake in the frozen food retailer gets
under way, a person familiar with the situation said on Sunday.

Buying Iceland Foods, which analysts think could fetch
around 1.5 billion pounds ($2.4 billion), would lift Morrison’s
market share towards rivals J Sainsbury (SBRY.L: Quote, Profile, Research, Stock Buzz) and Asda
(WMT.N: Quote, Profile, Research, Stock Buzz) and give a significant boost to plans to expand into
smaller format and convenience stores.

May 20, 2011

M&S profit rise set to bolster Bolland’s hand

LONDON, May 20 (Reuters) – British retailer Marks & Spencer
(MKS.L: Quote, Profile, Research, Stock Buzz) is expected to post a 12 percent rise in full-year
profit, giving CEO Marc Bolland a useful base from which to
drive for more growth by boosting Internet and overseas sales.

M&S is forecast to report on Tuesday an underlying pretax
profit of 695-725 million pounds ($1.13-$1.18 billion) for the
year to April 2, according to a company poll of analysts.

May 19, 2011

Carrefour at the crossroads – where next?

PARIS/LONDON, May 19 (Reuters) – Carrefour (CARR.PA: Quote, Profile, Research, Stock Buzz), the
world’s No.2 retailer, is battling to convince investors it can
deliver on its turnaround plan following a dip in performance in
its main French market and the shelving of a property listing.

Chief Executive Lars Olofsson has put his job on the line by
taking over running of the French business, which accounts for
about 40 percent of sales, and is spearheading the rollout of
new format hypermarkets — the heart of its recovery strategy.

May 12, 2011

Dixons says to meet full-year profit forecast

LONDON, May 12 (Reuters) – Dixons (DXNS.L: Quote, Profile, Research, Stock Buzz), Europe’s No.2
electricals retailer, said new megastores were helping it take
market share in a difficult trading environment and it was on
track to meet recently reduced full-year profit expectations.

Dixons, which runs the Currys and PC World chains in
Britain, UniEuro in Italy, and Elkjop in Nordic countries, said
on Thursday sales at stores open at least a year fell 4 percent
in the 28 weeks to April 30, its fiscal second half.

May 11, 2011

Expansion pays off for Sainsbury in tough market

LONDON (Reuters) – New stores, online shopping and sales of non-food ranges like clothing helped grocer J Sainsbury (SBRY.L: Quote, Profile, Research) meet full-year profit forecasts and grow market share despite a challenging consumer environment.

Chief executive Justin King said on Wednesday he expected consumer spending to be kept in check throughout this year by austerity measures and rising prices, despite a jump in April fuelled by public holidays, warm weather and a royal wedding.

May 11, 2011

Ocado sees sales growth back on trend very soon

LONDON, May 11 (Reuters) – British online grocer Ocado
(OCDO.L: Quote, Profile, Research) is addressing capacity constraints and expects to
return to sales growth of around 25 percent in the near future,
finance director Andrew Bracey told Reuters on Wednesday.

Ocado shares dropped as much as 9 percent after the group
signalled sales growth had slowed to 17.6 percent in the second
quarter of its financial year from 24.7 percent in the first.

May 11, 2011

Sainsbury profit climbs, sees consumers subdued

LONDON, May 11 (Reuters) – New stores, online shopping and
sales of non-food goods helped British grocer J Sainsbury
(SBRY.L: Quote, Profile, Research, Stock Buzz) meet full-year forecasts and grow market share despite
a challenging consumer environment.

Chief executive Justin King told Reuters Insider on
Wednesday he did not expect trading conditions to improve this
year as shoppers grapple with rising prices and austerity

May 10, 2011

Tesco brands to lure aspirational shoppers

CHESHUNT, England, May 10 (Reuters) – Tesco (TSCO.L: Quote, Profile, Research), the
world’s No.3 retailer, plans to create new brands to spruce up
its product ranges and appeal to increasingly aspirational
shoppers across the world, its new chief executive told Reuters.

Phil Clarke, outlining his strategy for the British
supermarket group, also said Tesco would be online in all 15 of
its markets this decade and, while it would continue to expand
rapidly in its main British market, it would likely allocate a
growing proportion of resources to its overseas businesses.

May 10, 2011

Tesco’s Clarke steps out from Leahy’s shadow

LONDON, May 10 (Reuters) – Phil Clarke, new head of world
No.3 retailer Tesco (TSCO.L: Quote, Profile, Research, Stock Buzz), stepped out of the shadow of his
long-serving predecessor on Tuesday with a more ambitious group
strategy that includes a plan to create new global brands.

When Clarke, 51, was named chief executive last June, many
commentators quickly concluded he was a carbon copy of his
former boss, Terry Leahy.

    • About Mark

      "Based in London, UK. Responsible for ThomsonReuters coverage of European retail companies. Previously worked as Chief Correspondent of UK Equities and before that as reporter on the UK company news desk."
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