Industry Report Card: European Retail May 05

  • ID: 1710534
  • May 2005
  • Region: Europe
  • Standard & Poors
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  • Alliance Boots Ltd.
  • Corporate Express N.V.
  • Focus DIY (Finance) PLC
  • J Sainsbury PLC
  • Koninklijke Ahold N.V.
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(Editor's Note: In the original version of this report card, published on May 11, 2005, the rating on Debenhams Finance Holdings PLC was misstated in Table 4 in the "Issuer Review" section. A corrected version follows.) Competition remains intense in most European retail markets due to soft demand and deflationary trends, notably in the food sector. Amid this climate, price-focused operators, such as Tesco PLC (A+/Stable/A-1) in the U.K. and Leclerc (unrated) in France, gained market shares in 2004. Players with a high or blurred price image lost ground during the same period but have since adopted more aggressive pricing. For example, Carrefour S.A. (A+/Stable/A-1) managed to reverse its downtrend, reporting a slight increase in like-for-like sales in first-quarter 2005....

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Note: Product cover images may vary from those shown
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- Alliance Boots Ltd.
- Marks & Spencer PLC
- J Sainsbury PLC
- Kingfisher PLC
- Signet Jewelers Ltd.
- Casino Guichard - Perrachon & Cie S.A.
- Koninklijke Ahold N.V.
- Migros Genossenschaftsbund
- Kering S.A.
- TM Group Holdings PLC
- Carrefour S.A.
- Experian Finance PLC
- Corporate Express N.V.
- Tesco PLC
- Metro AG
- Groupe Auchan S.A.
- Next PLC
- Brake Bros Finance PLC
- Debenhams PLC
- Hornbach-Baumarkt-AG
- A.T.U. Auto-Teile-Unger Holding GmbH
- Victoria Acquisition III B.V.
- Focus DIY (Finance) PLC

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown




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