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UK Department Stores 2011

Verdict Research Ltd
July 1, 2011
227 Pages - SKU: VERA6462690

Abstract Table of Contents Search inside this report Related Reports

Countries covered: United Kingdom

Introduction

UK Department Stores 2011: The department store channel proved to be resilient in 2010 and is forecast to grow again in 2011, despite disposable incomes coming under significant pressure from rising prices of basic commodities including food and fuel. We forecast that sales via department stores will grow by 3.9% in 2011, outpacing the whole retail sector for the third consecutive year

Features and benefits

Benchmark your performance against competitors, through comparing market shares, sales densities and profitability to other department store players
Uncover how inflation pressures will challenge your business performance and what is required to justify charging more for product
Achieve revenue growth by identifying the most successful product sectors and utilising space for the best performing categories

Highlights

VAT and sourcing cost rises will cause department store prices to increase by 1.2% in 2011, only the second year they have done so since 1998, which will affect customers’ willingness to buy, subsequently bringing 2011 sales volume growth down to just 2.7% from 5.8% in 2010

Department stores are planning a new wave of growth having put expansion plans on hold during the recession. However, figures show that retailers with high operating margins tend to be those who have avoided opening space. Retailers may need to reassess their approach to new investment to establish whether it really adds more to sales than to costs

Online sales have now reached the point where their growth is accounting for a larger and larger share of turnover, impacting performance in physical stores. We believe retailers will need to start a review of their physical store requirements to decide which are the most profitable formats, layouts and product ranges to serve their future needs

Your key questions answered

Who are the top performing department stores in terms of UK turnover, profitability and market share?
How are my competitors expanding through new store formats within the UK and how are they increasing their international presence?
What are the benefits of own-brand ranges and which of my competitors have them?

Executive Summary: Main conclusions
OVERVIEW: Key findings
MARKET ANALYSIS: Market definition and methodology; Department store market spending trends; Inflation intensifies; Home related spending in decline; Space growth slackens; Department stores gain in non-food and retail overall
COMPANY DATA ANALYSIS: Department store market shares; Winners and losers; Key operating statistics; Sales growth; Operating margins; Space growth; Sales densities; Space allocation
OUTLOOK: Key issues; Inflation vulnerability; Store expansion; Expansion and profitability; Development of own brand; Impact of online; Tourism and Olympics; International development; Market positioning; Summary and strategies for success
BEALES: Adds scale with Co-op acquisition; Recent key events; Proposition; Financials; Space; Market share; Outlook
DEBENHAMS: Strong own label helps in tough UK market; Recent key events; Proposition; Financials; Space; Market share; Outlook
FENWICK: Increasing competition could threaten profitability; Recent key events; Proposition; Financials; Space; Market share; Outlook
HARRODS: New owners continue to invest; Recent key events; Proposition; Financials; Space; Market share; Outlook
HARVEY NICHOLS: Beauty standalones may protect UK growth; Recent key events; Proposition; Financials; Space; Market share; Outlook
HOUSE OF FRASER: Further own label push needed to boost margins; Recent key events; Proposition; Financials; Space; Market share; Outlook
JOHN LEWIS: Online impact will grow; Recent key events; Proposition; Financials; Space; Market share; Outlook
MARKS & SPENCER: Reinforces brand and expands internationally; Recent key events; Proposition; Financials; Space; Market share; Outlook
SELFRIDGES: Tourist spend to drive sales; Recent key events; Proposition; Financials; Space; Market share; Outlook
TJ HUGHES: Calls in administrators as it struggles to overhaul product, sourcing and stores; Recent key events; Proposition; Financials; Space; Market shares; Outlook
APPENDIX: Financial Statistics - VAT; Methodology; Further reading; Ask the analyst; Global Retail FreeView; Verdict consulting; Disclaimer

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