PPT-Strategic Preview: Q1

March 2013 May 2013 3 June 2013 DAVID GRAY Research Analyst Analyst Comment Strategic Preview Tesco Q1 We expect Tescos domestic business to deliver a satisfactory performance in Q1 with comparative sales broadly flat although there is the possibility of a slight decline due to subdued general merchandise sales We also note Tescos large store refurbishments have slowed to a mere trickle as the retailer works out how to integrate recently acquired businesses such as Giraffe and HarrisHoole While this is sensible we note Tesco has much work to do with an estate of more than 3000 stores in the UK much of which is tired and in need of a refresh Nevertheless range improvement is continuing at pace with further progress made on the midtier Tesco overhaul in the quarter. February - September 2012. 1 October 2012. DAVID GRAY. Research Analyst. Analyst Comment:. Strategic Preview: Tesco H1. “We are expecting a resilient performance in international during the half despite a difficult trading environment in China, alongside changes to legislation in South Korea affecting shop opening hours. We believe Asia will deliver robust growth despite significant headwinds with a standout performance at the Thai business which is rapidly rolling out smaller Express stores and will launch a grocery e-commerce operation later this year.. September - November 2012. 3 December . 2012. DAVID GRAY. Research Analyst. Analyst Comment:. Strategic Preview: Tesco Q3. “We expect Tesco’s domestic business to put in a satisfactory performance in Q3. The rapid adoption of self-help measures such as the . February - April 2013. 13 May 2013. STEPHEN SPRINGHAM. Senior Retail Analyst. Analyst Comment:. Strategic Preview: . Walmart. Q1. “A slowdown domestically in Q1 has already been telegraphed by Walmart itself. A challenging comp base (+3.0% in Q1 2012) has been exacerbated by weak consumer demand, as core US customers were hit by the double whammy of the expiry of payroll tax breaks and delays in receiving income tax rebates. Walmart previously gave guidance of “around flat” comp sales growth in the US in Q1, but there are fears the business could disappoint slightly on the downside if the performance of rival Target is anything of a barometer of wider consumer malaise.. September – November 2012. 13 November 2012. NATALIE BERG. Global Research Director. Analyst Comment:. Strategic Preview: Walmart Q3. “We’re expecting strong seasonal merchandising to have helped drive sales and traffic in Q3. Back-to-school, Halloween and early holiday initiatives have been . April – June 2013. 15 July 2013. GILDAS AITAMER. Retail Analyst. STEPHEN SPRINGHAM. Senior Retail Analyst. Analyst Comment:. Strategic Preview: Carrefour . Q2 . “We remain confident that . Carrefour’s . March - May 2014. 2. June 2014. David . Gray. Retail Analyst. STRATEGIC PREVIEW. Expectations for the . Quarter. UK: . Q1 . Strategic Changes. Global: . Q1 . Strategic Changes. Outlook. What’s new at Planet Retail. December 2013 - February 2014. 14 April 2014. David . Gray. Retail Analyst. STRATEGIC PREVIEW. Expectations for the . Quarter. UK: . Q4 . Strategic Changes. Global: . Q4 . Strategic Changes. Outlook. July - September 2012. 8 October . 2012. GILDAS AITAMER. Associate Analyst. NATALIE BERG. Global Research Director. Analyst Comment:. Strategic Preview: Carrefour Q3 .  “We are expecting yet another weak quarter, hampered by Carrefour’s Western European operations. Its core domestic market, which has been the root of its problems, will not be fixed overnight but we are encouraged by the pragmatic approach being taken by Georges Plassat. . Get in with the most dedicated and determined . early-adopters . Beat the crowds! Beat the box-office! Beat everyone but the truly dedicated film-fanatics that can’t bear to wait for the official release of the next big thing.. Materials. Safety. Rear Steering . Fuel Economy. Diesel. Downsizing Continues. 2016 10 Best Engines. Convenience. Technology Preview. Tom Murphy, . Senior Editor. Materials: Carbon Fiber. ‘. 16 BMW 7-Series . May 2013 – August 2013. 30 September 2013. DAVID GRAY. Retail Analyst. Expectations for the . Quarter. UK: . Q2 . Strategic Changes. Global: . Q2 . Strategic Changes. Outlook. What’s new at Planet Retail. Aug 2013 – Nov 2013. 2. December 2013. DAVID GRAY. Retail Analyst. Expectations for the . Quarter. UK: . Q3 . Strategic Changes. Global: . Q3 . Strategic Changes. Outlook. What’s new at Planet Retail. 12 August 2013. STEPHEN SPRINGHAM. Senior Retail Analyst. Analyst Comment:. Strategic Preview: . Walmart. Q2. “After the horror show of Q1, we are expecting a return to stability and low growth . in Q2. Above . Materials. Safety. Rear Steering . Fuel Economy. Diesel. Downsizing Continues. 2016 10 Best Engines. Convenience. Technology Preview. Tom Murphy, . Senior Editor. Materials: Carbon Fiber. ‘. 16 BMW 7-Series .