Company

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Brief Summary

Aeon Co

August

Last year was a difficult one for Asia’s second-largest retailer, with a weak retail environment in Japan and falling sales at its US Talbot’s subsidiary leading to the first drop in profit for the chain in a decade. However, the company is continuing to pursue an aggressive expansion strategy based around organic growth and company tie-ups and aims to become one of the world’s leading retailers by 2011.

Ahold

May

Ahold exceeded its performance targets during 2007 and reported strong growth at its Albert Heijn division in Europe and Giant Carlisle in the US. The retailer is continuing to divest non-core operations to focus on future growth and last year sold off its U.S. Foodservice division, its US Tops supermarket chain and exited the market in Poland.

Alliance Boots

August

Despite debts of nearly £9bn remaining from its £11bn takeover by Executive Chairman Stefano Pessina and private equity firm KKR, Alliance Boots’ new owners have set their sights on building the business into the world’s leading pharmaceutical-led health & beauty group. However, in an effort to improve cash flow to enable it to service its high interest payments, the group recently made changes to its suppliers payment terms, which has attracted significant criticism from the trade.

Aldi

April

The German discounter is continuing its aggressive expansion policy, targeting overseas markets in eastern Europe, the UK, Australia and the US. The group is also diversifying into new products and services in order to drive growth.

Arcandor

March

Following the buyout of Lufthansa’s share in Thomas Cook, KarstadtQuelle renamed itself to reflect its new focus as a tourism and retail group. The group has also integrated its mail-order operations under a new Primondo brand.

Asda

January

A better year for Asda with its continued focus on price, along with the expansion of its non-food offering, helping to drive growth. However, the group has warned of tougher times ahead in a slowing market, although its value offering should place it in good position as consumers tighten their belts.

Auchan

September

Auchan’s strong expansion overseas is balancing the effects of a weak market in France, where the group is experimenting with new formats and a strong discount policy in order to drive growth.

Booker

September

The UK’s leading food wholesaler has delivered a strong set of results this year, helped by a renewed focus on its operations. The group’s integration of smaller rival Blueheath Holdings is going well, and the addition of the extra business has helped boost its profit and margins.

Carrefour

July

Amidst stagnation in its more mature markets, Carrefour is looking to overseas expansion in emerging markets to drive growth. In France, where the retailer faces aggressive competition, the group is maintaining its low price strategy and rebranding operations under a single Carrefour banner.

Casino

September

French retailer Casino is growing sales and profits through a strategy of distinctive positioning and a move towards precision retailing, with targets in place for each of its banners. Overseas, Casino has exited markets in Poland, Taiwan and the US, but increased its investment in South America and Southeast Asia.

Celesio

March

Europe’s second-largest pharmaceutical wholesaler and retailer  is profiting from the continued rise in demand for medicines and expanding its portfolio in the UK, Ireland and across Europe.

Co-operative Group

January

The co-operative giant continues to consolidate and revamp itself, as it tries not only to retain its position in the UK market, but to win back customers from the major multiples.

Rising food prices failed to push the burgeoning recovery at Compass off course as the world’s largest caterer reported strong profit growth last year with trading in the first five months of the current financial year said to be ahead of expectations.

As analysts predict the bleakest holiday season since 1979 in the US, Costco is one company that is benefiting from the downturn. The upscale discounter last year outpaced its rivals with double-digit profit growth, driven by continuing customer loyalty and growing numbers of bargain hunters.

Launched in 1986, the Costcutter Supermarkets Group is now one of the UK’s leading symbol groups with over 1,500 convenience/forecourt stores and small supermarkets throughout the UK and Northern Ireland. Its founder, Colin Graves, now oversees the running of the company along with a board of Directors and involvement from parent company Bibby Line Group, who took over a controlling stake in the business in August 2007.

CVS Caremark

January

In March last year leading US pharmacy retailer CVS acquired leading pharmacy service provider Caremark and merged to form a new CVS Caremark organisation. In addition to expanding its pharmacy benefit services the group is also pursuing an aggressive growth strategy for its retail pharmacy stores.

Dairy Farm

January

Dairy Farm is continuing to expand within Asia to take advantage of new markets and an improving economy. The group is opening stores of all formats but focusing particularly to expand its Giant hypermarket portfolio.

Debenhams

December

In line with the broader retail market, and in keeping with the lower discretionary spending, Debenhams suffered through a bad year, in terms of results. While sales for the year were barely up, profits and like-for-like sales suffered.

Delhaize

April

In Belgium Delhaize faces tough competition from the discount sector and saw a slight decline in market share last year. Operations in the US performed well but results were impacted by currency exchange rates as the dollar remained weak against the euro.

DSG International

March

Europe’s largest electricals retailer has started to suffer the effect of the consumer spending slowdown with disappointing Christmas trading forcing the group to issue a profit warning.

Dunnes

December

As speculation abounds that Dunnes may be subject to a takeover by Asda, the family-owned chain is expanding and remains Ireland’s second-largest grocery retailer with around 23.9% market share, behind market leader Tesco with around 25.8%.

Edeka

June

Germany’s largest retailer and co-operative group is on a mission to reach 30% market share by 2010 through the aggressive expansion of its Edeka supermarkets and Netto discount stores in Germany. The group is currently awaiting regulatory approval for its planned takeover of Tengelmann’s Plus discount chain.

El Corte Ingles

February

Spain’s leading retailer and Europe’s second-largest department store chain is continuing to expand through the opening of new shopping centres, whilst at the same time exploring new markets in Portugal, Italy and Mexico.

Eroski

January

Spanish co-operative Eroski is expanding its activities and recently acquired a majority share in supermarket chain Caprabo, increasing its presence in the north of Spain, Madrid and Barcelona.

Home Retail Group

February

Almost eighteen months on from its creation after the split-up of GUS, the leading home and general merchandise retailer in the UK is showing relatively good growth despite the tough trading conditions for non-food retailers.

Home Depot

March

The world’s largest home improvement retailer is making cutbacks and experienced a drop in sales and profits last year, as the prolonged US housing slump and weak consumer spending continued to affect business.

Hutchison Whampoa

February

Hutchison Whampoa has slowed down expansion of its A.S. Watson retail business in order to focus on integration and efficiency of operations, although expansion continues in China and eastern Europe. Whilst sales are growing, aggressive price competition has led to a downturn in profit in some markets, including Superdrug and Savers in the UK.

ICA

August

Sweden’s leading retailer reported strong sales and profits last year, boosted by its full ownership of Rimi Baltic, although it was negatively impacted by its loss-making subsidiary in Norway.

Jeronimo Martins

February

Jerónimo Martins has increased like-for-like sales in Portugal through price and product repositioning, whilst in Poland the retailer is pursuing a rapid expansion strategy. Recently the group acquired 285 former Plus stores from Tengelmann, which it plans to integrate into its Pingo Doce and Biedronka portfolios.

John Lewis Partnership

July

The UK’s favourite retail group continues to grow in strength and confidence, as it continues to expand its network and attract new customers.

Kesa Electricals

May

Europe’s third-largest electrical goods retailer continued to weather a tough consumer environment, with the credit crunch threatening sales of high-margin goods. It now plans to focus on cost control and core operations, and has sold off its French BUT furniture chain.

Kesko

August

Finnish retailer Kesko is growing its hypermarket network and expanding its Rautakesko DIY chain into eastern Europe and the Baltic States. The group expects to post weak profit figures this year, affected by rapid expansion, a weak economy and a decline in demand for non-food items and construction goods.

Kingfisher

November

Europe’s largest home improvement retailer reported reported strong profit growth in the first-half of this year, boosted restructuring measures, a stronger-than-expected margin performance in France and strong growth in Poland. However, the group saw a heavy fall in sales at its core B&Q chain and cautioned that it expects “very tough times ahead”, particularly in the UK.

Kroger

June

The largest US grocery retailer is continuing to gain market share through its aggressive low pricing, helping it to compete against rivals including Wal-Mart.

Lianhua Supermarket

October

China’s leading supermarket chain is fighting off competition from its western counterparts such as Wal-Mart and Carrefour. The group is expanding at a rapid pace throughout the Chinese market, accelerating hypermarket openings and boosting its supermarket and convenience store presence through new owned and franchised stores.

Loblaw

June

Market leader Loblaw is facing fierce competition in the Canadian retail market, heightened by the recent market entry and expansion of Wal-Mart. The group is in the midst of a restructuring effort to reduce costs whilst continuing an aggressive price cutting strategy.

Leclerc

July

France’s leading retailer continues its crusade against legislation that it considers anti-competitive and has grown market share through its aggressive pricing strategy.

Marks & Spencer

August

The iconic retailer has lost some of its shine in recent months, with controversies surrounding the role of Sir Stuart Rose, and the issuing of a shock profit warning.

Metro Group

November

Metro’s international business is booming, but sales and profits in its German domestic market have been hit by tough competition and weak consumer spending. The group is in the process of restructuring its Real hypermarket division and is preparing to sell its Kaufhof department store business.

Migros

April

By focusing on low prices and diversification, leading Swiss retailer Migros is continuing to grow sales and market share. The group recently entered the discount sector with the acquisition of a majority shareholding in Swiss company Denner.

Morrisons

May

With the Safeway integration now complete, Morrisons has seen a year of steady progress with solid sales and profit growth, as it continued the delivery of its Optimisation Plan, first announced in 2006.

Mothercare

February

The baby goods retailer has ended up having a good year, with strong international expansion and the successful acquisition of the Early Learning Centre boosting domestic operations.

Musgrave

December

Musgrave enjoyed a successful year of sales and profit growth, and succeeded in selling off its Budgens stores to independent retailers a year ahead of schedule. The retailer is now facing tough competition in Ireland as a result of the economic downturn and has engaged in price wars with other leading grocery retailers.

Pantaloon Retail

November

Part of the Future Group, Pantaloon Retail is rapidly growing its portfolio of food, clothing and general merchandise stores in a developing Indian retail sector.

PPR

March

French luxury goods and direct sales retailer PPR is profiting from the growth of its luxury brands Gucci, Yves Saint Laurent and Bottega Veneta and the recent acquisition of Puma.

Rewe Group

October

Rewe is expanding its store portfolio in Germany and overseas with the ambitious goal of increasing market share to 18%-20% by 2010.  Investment in new store formats and the modernisation of its portfolio together with expansion of its Penny discount business all contributed to a 3.7% rise in turnover last year.  However, the group faces strong competition from market leader Edeka, which is awaiting authority approval for the takeover of Tengelmann’s Plus discount network.

Rite Aid

May

Rite Aid failed to meet its expected revenue targets last year, reporting a loss for the past three successive quarters. The third-largest US drugstore chain recently expanded its presence in the eastern US states through the acquisition of the Brooks Eckerd chain from Jean Coutu.

Safeway Inc

April

Safeway has many competitors in a weak US market, but the group is benefiting from its recent investment in upgrading its stores and its image as well as from its Blackhawk gift card subsidiary.

Sainsbury's

July

Sainsbury’s is “miles better than three years ago”, a triumphant Chief Executive Justin King declared after the group’s year-end results, as he drew a line under his sales-led recovery plan and set out his plans for future growth. However, with consumers shifting their spending to discounters as the credit crunch bites, Sainsbury’s may be in for a tougher year.

Schlecker

November

Schlecker remains the dominant force in Germany’s health & beauty market and recently expanded its presence through the acquisition of rival chain Ihr Platz. Earlier this year the group began offering both prescription and non-prescription medicines for collection in store via its Netherlands-based Internet pharmacy Vitalsana.

Schwarz Group

October

German discounter Lidl continues to dominate the discount sector in Germany and overseas. Last year the company achieved double-digit sales growth, through aggressive expansion and the widening of its product assortment.

Sears Holdings

December

Following four quarters of falling profit and more than two years of same-store sales declines, shareholders and analysts are beginning to question whether Sears is on the right track.

Seiyu

February

Seiyu is now an almost wholly owned subsidiary of US retailer Wal-Mart, which is holding out for long-term benefits in Japan even though profit continues to remain elusive.

Seven & I Holdings

May

Seven & I Holdings, comprising Seven-Eleven Japan, 7-Eleven Inc. and Ito-Yokado, reported its first drop in profits for six years affected by weak consumer spending and tougher competition, which particularly hit its restaurants division. This year the chain aims to boost profits with the introduction of new formats and its own food line, as well as accelerated expansion into China.

Shoprite

November

South Africa’s leading retailer is benefiting from recent repositioning and cost initiatives and achieved strong sales and profit increases last year, helped by its international business across Africa.

Super de Boer

May

Dutch chain Laurus has renamed itself Super de Boer and has succeeded in returning to profit following an aggressive restructuring effort.

Systeme U

July

France’s Système U grew sales by 7% last year and is benefiting from the relaxation of pricing legislation to increase promotions and grow its market share. Last month the group launched its first U Express convenience store in Rennes.

Target

October

After a promising start in 2007, Target started losing out to a revived Wal-Mart, and ended the year with results that came in below its expectations. Its poor performance has carried over into the current year, as it loses out to its main rival in the race to drive cost-conscious consumers into stores.

Tengelmann

June

Tengelmann is in the process of selling off its Plus discount division, Germany’s third-largest discounter, proposing to merge the unit with Edeka’s Netto organisation

Tesco

June

Despite the more challenging market conditions, the UK’s No.1 grocery chain (31.3% market share - TNS) delivered another set of strong results aided by its rapid expansion overseas.

Walgreens

January

Leading US drugstore chain Walgreens is continuing its pace of rapid expansion, aiming to reach 7,000 stores by 2010. The group is aggressively investing in new stores as well as reaching out to new markets within the speciality pharmacy sector.

Wal-Mart

September

The world’s biggest retailer had a tough year, after sales lagged when it tried to re-invent itself by taking its fashion offer upmarket. However, the company has bounced back strongly with a revamp of its product offer, and has benefitted by the timing of the global credit crisis, which has seen cash-strapped shoppers return to its stores in droves.

Wesfarmers

August

Following its acquisition of Coles Group last November, Wesfarmer is reorganising its management structure to integrate its new retail businesses and drive a five-year turnaround plan for Coles.

WH Smith

January

A better year for the stationery and book retailer following recent restructuring, although sales have continued to fall in the face of increased competition from the supermarket multiples.

Whole Foods Market

July

Leading US natural and organic food retailer Whole Foods bought out its rival Wild Oats last year and is in the process of integrating the new stores under the Whole Foods banner. In the UK the company’s flagship store in Kensington is reported to be falling short of expectations, although the group says it plans further outlets.

Wilkinson

March

The family-owned variety and hardware store chain continues to gradually expand its store network, while focusing on extending its product offer. In addition, the retailer, which has also been revamping outlets and its online offer, launched a new neighbourhood format this year.

Woolworths Ltd

October

Australian market leader Woolworths is increasing its lead over rival Wesfarmers, driven by store refurbishments, lower prices and an enhanced loyalty programme.