European Clothing Retailers 2007

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This report examines the clothing market in each of the EU25 member states. It provides key statistical information on total clothing expenditure, specialist sales, space productivity, store numbers and retail space in each country, coupled with an explanation of the key dynamics, trends and drivers affecting clothing retail across Europe and an analysis of the Top Ten clothing retailers.

Scope

Clothing expenditure and growth 2001-2006 for each of the 25 EU countries. Specialists space, sales, store numbers and sales densities 2001-2006 in each country. Review of major issues impacting clothing retailers as they expand internationally. Detailed profiles of the 10 largest EU 25 clothing specialists, including sales densities, sales space and store sizes, market share and outlook.

Highlights

The EU clothing market has grown by 6.3% since 2001 to reach EUR292bn in 2006. But nearly 80% of the market is produced by six markets and weak growth in the largest two markets, Germany and Italy, over the last five years has held back total EU performance. The fastest growing markets over the last five years were Estonia, Lithuania, the Czech Republic and Slovakia. Specialists' sales densities have risen in all of the new member states, with the biggest changes in Slovakia, Latvia and Estonia. Middle market retailers are most likely to struggle abroad. These typically target older customers, who are likely to have more established, nationally-derived clothing preferences. Older consumers are also more likely to have financial commitments, making them more attracted by low-priced clothing that requires high volumes to be profitable.

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CHAPTER 1 EXECUTIVE SUMMARY

Key Findings

Main Conclusions

CHAPTER 2 EUROPEAN MARKET - ECONOMIC OVERVIEW

Key Findings

Key Messages

GDP

Consumer Expenditure

Inflation

Interest Rates

Employment

CHAPTER 3 EUROPEAN MARKET - DEMOGRAPHIC OVERVIEW

Key Findings

Key Messages

Trends

Growth by Country

Age Breakdown

Consequences for Retailers

Households

Urban Population

CHAPTER 4 EUROPEAN MARKET - RETAIL SPENDING

Expenditure

Retail Share

Spend by Country

Growth

Per Capita

CHAPTER 5 CLOTHING MARKET STRUCTURE

Key Messages

Expenditure

Specialists Sales

Specialists Space

Store Numbers

CHAPTER 6 CLOTHING MARKET IN FRANCE

Recent Developments & Trends

Outlook for Clothing Retailing in France

CHAPTER 7 CLOTHING MARKET IN GERMANY

Recent Developments & Trends

Outlook for Clothing Retailing in Germany

CHAPTER 8 CLOTHING MARKET IN ITALY

Recent Developments & Trends

Outlook for Clothing Retailing in Italy

CHAPTER 9 CLOTHING MARKET IN THE NETHERLANDS

Recent Developments & Trends

Outlook for Clothing Retailing in the Netherlands

CHAPTER 10 CLOTHING MARKET IN SPAIN

Recent Developments & Trends

Outlook for Clothing Retailing in Spain

CHAPTER 11 CLOTHING MARKET IN THE UK

Recent Developments & Trends

Outlook for Clothing Retailing in the United Kingdom

CHAPTER 12 STRATEGIC ISSUES

Expansion Drivers

Positioning - Transferability to New Markets

Markets - Barriers and Attractions

Channels - and Implications

Cost Implications

Summary

CHAPTER 13 COMPANY COMPARISONS

Overview

CHAPTER 14 ARCADIA

Company Overview

Recent Key Developments

Sales Performance

Benchmarks

Store Portfolio

Outlook

CHAPTER 15 BENETTON

Company Overview

Recent Key Developments

Sales Performance

Current Performance

Benchmarks

Store Portfolio

Outlook

CHAPTER 16 C&A

Company Overview

Recent Key Developments

Sales Performance

Year to February 2007

Benchmarks

Store Portfolio

Outlook

CHAPTER 17 CORTEFIEL

Company Overview

Recent Key Developments

Sales Performance

Benchmarks

Store Portfolio

Outlook

CHAPTER 18 H&M

Company Overview

Recent Key Developments

Sales Performance

Year to November 2006

Benchmarks

Store Portfolio

Outlook

CHAPTER 19 INDITEX

Company Overview

Recent Key Developments

Sales Performance

Benchmarks

Store Portfolio

Outlook

CHAPTER 20 MARKS & SPENCER

Company Overview

Recent Key Developments

Sales Performance

Year to March 2007 - UK

Year to March 2007 - International

Benchmarks

Store Portfolio

Outlook

CHAPTER 21 NEW LOOK

Company Overview

Recent Key Developments

Sales Performance

Benchmarks

Store Portfolio

Outlook

CHAPTER 22 NEXT

Company Overview

Recent Key Developments

Sales Performance

Year to January 2007

Current Trading

Benchmarks

Store Portfolio

Outlook

CHAPTER 23 PRIMARK

Company Overview

Recent Key Developments

Sales Performance

Trading to September 2006

Trading to March 2007

Benchmarks

Store Portfolio

Outlook

CHAPTER 24 GLOSSARY

Definitions

list of tables

Table 1: Consequences of population change for retailers 2005-2015

Table 2: EU retail expenditure 2000-2005

Table 3: EU retail expenditure growth 2000-2005

Table 4: Total retail spend per country - EU15 2000-05

Table 5: Total retail spend per country - 10 new member states 2000 & 2005

Table 6: EU25 clothing market overview 2001 & 2006e

Table 7: EU15 clothing market overview 2001 & 2006e

Table 8: EU25 clothing expenditure 2000-2006e

Table 9: EU25 clothing growth rates 2000-2006e

Table 10: Expenditure on clothing by country 2000-2006e

Table 11: % share of EU25 expenditure on clothing by country 2001 & 2006e

Table 12: Sales through specialist clothing retailers of leading EU countries and EU25 2000-2006e

Table 13: EU25 clothing specialists sales growth rates 2000-2006e

Table 14: Specialist sales by country 2000-2006e

Table 15: % share of EU25 specialist sales total by country 2001 & 2006e

Table 16: Clothing specialists selling space (000 sq m) estimates by country 2001-2006e

Table 17: % share of EU25 clothing specialists selling space total by country 2001 & 2006e

Table 18: EU25 clothing specialists store numbers estimates by country 2001-2006

Table 18: % share of EU clothing specialists store numbers total by country 2001 & 2006

Table 19: France clothing expenditure & specialist sales 2000-2006e

Table 20: France clothing specialists 2001-2006e

Table 21: German clothing expenditure & specialist sales 2000-2006e

Table 22: German clothing specialists 2001-2006e

Table 23: Italy clothing expenditure & specialist sales 2000-2006e

Table 24: Italy clothing specialists 2001-2006e

Table 25: Netherlands clothing expenditure & specialist sales 2001-2006e

Table 26: Netherlands clothing specialists 2001-2006e

Table 27: Spanish clothing expenditure & specialist sales 2001-2006e

Table 28: Spanish clothing specialists 2001-2006e

Table 29: UK clothing expenditure & specialist sales 2001-2006e

Table 30: UK clothing specialists 2001-2006e

Table 31: Leading European clothing retailers sales 2006/07

Table 32: Leading European clothing retailers sales 2006/07

Table 33: Arcadia company overview 2007

Table 34: Arcadia estimated trading record 2001-2006e

Table 35: Arcadia estimated trading record 2001-2006 in local currency

Table 36: Arcadia in EU25 year ended August 2005 and 2006

Table 37: Arcadia store numbers by country 2007

Table 38: Benetton company overview 2007

Table 39: Benetton trading record 2001-2006

Table 40: Benetton in EU25 year ended December 2005 and 2006e

Table 41: Benetton store portfolio 2005-06e

Table 42: C&A company overview 2007

Table 43: C&A trading record 2002-2007e

Table 44: C&A in EU25 year ended February 2006 and 2007

Table 45: C&A European store portfolio February 2007

Table 46: Cortefiel company overview 2007

Table 47: Cortefiel Group brand portfolio 2007

Table 48: Cortefiel trading record 2002-2007e

Table 49: Cortefiel Group in EU25 year ended February 2005 and 2006

Table 50: Cortefiel Group store portfolio February 2005

Table 51: Cortefiel Group total stores by brand February 2005

Table 52: H&M company overview 2007

Table 53: H&M estimated trading record 2001-2006

Table 54: H&M estimated trading record 2001-2006 in local currency

Table 55: H&M 2004/05 and 2005/06 sales by EU country (inc VAT)

Table 56: H&M in EU25 year ended November 2005 and 2006

Table 57: H&M store portfolio 2004/05 and 2005/06

Table 58: Inditex company overview 2007

Table 59: Inditex trading record 2002-2007

Table 60: Inditex breakdown of European sales 2003-2007

Table 61: Inditex share of sales by region 2005/06 and 2006/07

Table 62: Inditex 2005/06 and 2006/07 sales by fascia (€m)

Table 63: Inditex in EU25 year ended January 2006 and 2007

Table 64: Inditex store portfolio 2005/06 and 2006/07

Table 65: Inditex European store portfolio by fascia (Jan 2007)

Table 66: Inditex European store portfolio by fascia (Jan 2007)

Table 67: Inditex sales area January 2006 and 2007 by fascia (sq m)

Table 68: Inditex average store sizes by fascia (sq m)

Table 69: Marks & Spencer company overview 2007

Table 70: Marks & Spencer trading record (£) 2001-2007

Table 71: Marks & Spencer trading record (€) 2001-2007

Table 72: Marks & Spencer operating margin by store type, years to March 2006 and 2007

Table 73: Marks & Spencer in EU25 year ended March 2006 and 2007E

Table 74: Marks & Spencer store portfolio August 2006

Table 75: New Look company overview 2007

Table 76: New Look estimated trading record 2001-2007e

Table 77: New Look estimated trading record 2001-2007e in local currency

Table 78: New Look in EU25 year ended March 2005 and 2006

Table 79: New Look store portfolio 2005-2007e

Table 80: Next company overview 2007

Table 81: Next trading record 2002-2007 (€)

Table 82: Next trading record 2002-2007 (£)

Table 83: Next operating margin by outlet type, year ended January 2007

Table 84: Next in EU25 year ended January 2006 and 2007

Table 85: Next store portfolio 2006 and 2007

Table 86: Primark company overview 2007

Table 87: Primark estimated trading record 2001-2007e

Table 88: Primark estimated trading record 2001-2007e in local currency

Table 89: Primark in EU25 year ended September 2005 and 2006

Table 90: Primark store portfolio 2005-2007e

Table 91: Conversion rates used for company financials, 2000-2007

LIST OF FIGURES

Figure 1: GDP: Top 10 countries in European Union 2005

Figure 2: GDP growth forecast of Top 10 EU countries 2006 & 2007e

Figure 3: GDP: Other 15 countries in European Union (€50bn+) 2005

Figure 4: GDP: Other 15 countries in European Union (€50bn-) 2005

Figure 5: GDP growth forecast of other 15 European Union countries (4.5%+) 2006 & 2007

Figure 6: GDP growth forecast of other 15 European Union countries (4.5%-) 2006 & 2007

Figure 7: Consumer expenditure of Top 10 European Union countries 2005

Figure 8: Consumer expenditure forecast growth of Top 10 European Union countries year-on-year 2006 & 2007e

Figure 9: Consumer expenditure: Other 15 countries in European Union (€35bn+) 2005

Figure 10: Consumer expenditure: Other 15 countries in European Union (€35bn-) 2005

Figure 11: Expenditure forecast growth of other

European Union countries year-on-year (6.0%+) 2006 & 2007e

Figure 12: Expenditure forecast growth of other

European Union countries year-on-year (6.0%-) 2006 & 2007e

Figure 13: Harmonised Index of Consumer Prices - growth of Top 10 EU countries 2004 & 2005

Figure 14: Harmonised Index of Consumer Prices - growth of other 15 EU countries (2.6%+) 2004 & 2005

Figure 15: Harmonised Index of Consumer Prices - growth of other 15 EU countries (2.6%-) 2004 & 2005

Figure 16: Central bank interest rates, official lending rates 2005

Figure 17: ECB interest rates 2000-06

Figure 18: BoE interest rates 2001-06

Figure 19: Total unemployment rates of Top 10 EU countries 2000 & 2005

Figure 20: Total unemployment rates of other 15 EU countries (7.7%+) 2000 & 2005

Figure 21: Total unemployment rates of other 15 EU countries (7.7%-) 2000 & 2005

Figure 22: EU population totals (000s) by country 2005

Figure 23: Five year trends in total EU population growth 2000-2020e

Figure 24: Forecast population growth (%) for the Top 10 countries in EU by GDP - 2015 on 2005

Figure 25: Forecast population growth (%) for other EU countries 2015 on 2005

Figure 26: Historical changes in EU age breakdown 2005e on 1995

Figure 27: Forecast changes in EU age breakdown 2015e on 2005e

Figure 28: Comparison of EU age groups 2005e & 2015e

Figure 29: Top 10 EU countries by GDP - household numbers 2005

Figure 30: Other EU countries household numbers 2005

Figure 31: Top 10 EU countries by GDP - average household size in 2005

Figure 32: Other EU countries average household size in 2005

Figure 33: Comparison of EU countries by urban population % - Top 10 EU countries by GDP - 2006

Figure 34: Comparison of EU countries by urban population % - Other EU countries - 2006

Figure 35: Top Six EU member states retail growth % 2000-2005

Figure 36: EU-15 retail spend and change % 2000-2005

Figure 37: New member states spend and change % 2000-2005

Figure 38: EU25 retail spend and change % 2000-2005

Figure 39: EU retail spend as % of total consumer expenditure 2000 & 2005

Figure 40: Growth in EU retail spend by country 2005 on 2004

Figure 41: EU per capita retail spend 2000-2005

Figure 42: EU15 per capita retail spend by country 2005

Figure 43: New member states per capita retail spend by country 2005

Figure 44: Clothing spending growth in leading EU states 2006e on 2001

Figure 45: Clothing expenditure per capita EU15 2006e

Figure 46: Clothing expenditure per capita new member states 2006e

Figure 47: Clothing specialists sales densities estimates EU15 (€ per sq m) 2006

Figure 48: Clothing specialists sales densities estimates for new member states (€/sq m) 2006

Figure 49: Clothing specialists average store size estimates (sq m) EU15 2006

Figure 50: Clothing specialists average store size estimates (sq m) new member states 2006

Figure 51: Strategic issues for retailers planning international expansion 2007

Figure 52: Leading European clothing retailers estimated EU market shares 2006

Figure 53: Top Ten's EU25 sales densities financial year end 2006/07

Figure 54: Total group operating margins financial year end 2006/07