Europe news & analysis

21 March 2013
Norwegian retail group Norgesgruppen has reported strong revenue growth of 5.9% in 2012, rising to NOK62.1bn, and continues to grow its market share. Positive performance across the group Operating profit was healthy at NOK2.6bn, up 4.6% on 2011. Growth was driven by the Kiwi discount stores and its convenience banners including Joker and Spar. Meny stores also performed well, although not a...
20 March 2013
Asda is reaffirming its commitment to low prices in a new advert supporting its Price Lock promotion, released to coincide with the Budget. Price Lock commitment The Price Lock promotion is being run by Asda on a range of basic products such as bread and milk. It promises to keep the price of such products consistently low for a minimum of 12 weeks, where it claims that the prices of i...
20 March 2013
Greggs has released its preliminary results showing like-for-like sales were down 2.7% for the 52 weeks ending 29th December 2012. New stores boosting growth Although Greggs has reported a decrease in like-for-like sales, the chain has reported total sales increased by 4.8%, which is being credited to the strong performance of the 100 new shops which opened during the year. The back drop o...
20 March 2013
A company spokesperson has reaffirmed the importance of the Italian market to Carrefour, denying rumours circulating yesterday that Carrefour was planning to sell its Italian business. Conad was rumoured to be interested The report originated from an Italian daily newspaper, and said Italian retailer Conad may be interested in acquiring the business, either alone or with other partners....
20 March 2013
Metro Group's full year results conference today confirmed previously released figures for 2012, and gave a cautious but optimistic outlook for the year ahead. Modest growth in 2012 Metro confirmed that total group revenues rose a modest 1.2%, reaching €66.7bn for the full year 2012. Operating profit fell by 16.7% to €1.98bn, in line with its revised guidance. Performance was mixed between m...
20 March 2013
Auchan has reported a 5.8% rise in revenue to €46,931m and a 6.9% increase in EBITDA to €2,540m. China, Russia and online stand out as growth areas. Hypermarkets remain the mainstay of the business Hypermarkets remain the mainstay of Auchan's business, accounting for around 80% of group revenue. The majority of store growth is coming from Asia, with over 40 new stores opened in China over...
20 March 2013
Norwegian retail group, Reitangruppen has reported stellar performance in 2012, increasing sales by NOK8bn to a total of NOK71.7bn. Solid performance across all divisions All four divisions of the group saw sales rise, with a strong performance at  discount banner Rema 1000. Sales rose 11.6% across Rema, with Denmark delivering the strongest performance, up by 19.5% year on year. CEO of ...
20 March 2013
The Midlands Co-operative has announced plans to roll out contactless payments across its estate Use of technology in convenience stores As part of a point of sale upgrade the retailer is undertaking in its 253 stores, it will soon be able to offer contactless payments on transactions of less than £20. With technology playing an ever increasing role in convenience stores, this move will a...
20 March 2013
Discount retailer, B&M Bargains, has released double-digit growth in both sales and profits for 2012. Exceptional growth B&M Bargains posted an increase of 31.5% to £937.2m in the full year to 31 December 2012, while Pre-tax profits grew by 43% to £90.6m. It also extended its portfolio from 271 to a reported 324 in the same period. B&M has consistently outperformed the market with sales ...
20 March 2013
In a speech to the World Retail Congress in Singapore, Tesco CEO Philip Clarke has outlined how the industry needs to 're-tool' for the 21st century to adapt to fundamental changes in the way people shop. Building on last year's Congress, when he discussed how shopping behaviour is changing, the Tesco CEO highlighted three areas where he believes the industry needs to make profound changes...