General retailers

Article Abstract:

United Kingdom non-food retailers faced a difficult market in 1998, and this should improve with results for 1999, due to lower interest rates and rising house prices. There is still concern that a rise in volume sales may not bring profit rises due to customer expectations of falling prices. Discount retailers have performed well, but clothing retailers were hit by excessive stocks in 1998. DIY stores have benefited from a rise in house prices. Internet commerce and loyalty cards are also becoming more important among retailers.

United Kingdom

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French retailing: allez shoppers

Article Abstract:

The French government is seeking to boost consumption and this initially boosted the price of shares in retailers. Measures to increase spending include tax benefits for consumer credit. This should help electrical goods retailers such as Pinault. Retailers face problems across Europe, according to Simon Raggett from Williams de Broe. This problem is exacerbated by control of government deficits throughout Europe where governments are seeking to achieve targets for monetary union.

France, Economic policy

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GUS pounce gets big OK

Article Abstract:

Great Universal Stores (GUS) has made a hostile bid for Argos, and this is seen by some brokers as a positive move. Two brokers rate the company's stocks a buy and four rate them a hold. The buyers are Flemings Research and Morgan Stanley Dean Witter, which is not such a strong buyer. UBS rates the stocks a hold and sees logic in the bid for Argos. NatWest Markets and Dresdner Kleinwort Benson are also holders, while Societe Generale rates the stocks hold/buy.

Securities, Great Universal Stores PLC

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