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PROSPECT SWETENHAMS BUSINESS RATIO : Department and Variety Stores - JANUARY 2005
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This Business Ratio report brings you detailed financial profiles, analysis and comparison of the leading 72 limited companies actively trading in this industry sector in Great Britain.

You can use this information in a wide number of ways, including:

COMPANIES INCLUDED IN THIS REPORT

This Business Ratio report analyses, compares and contrasts the most recent financial details covering three or four years for the leading 72 companies in the industry. For comparison purposes, the base year is the most recent year for which the vast majority of companies have filed details. However, if firms have published more recent details, these are also included as a fourth year of accounts.

For each company, a full 3-year financial profile is provided, including details of its performance on 25 key ratios. The volume also ranks companies against each other on these performance factors, and league table rankings are provided for each. With these you can quickly and easily see how companies compare on performance in the base year.

The figures for all companies in the report are aggregated and analysed to bring you industry average profiles. These show clearly just how the upper part of the sector is performing, and indicate towards trends that may influence all players in the industry.

In addition, an industry overview reviews the findings of the report, highlighting major changes and drawing your attention to the best and worst performers.

The following companies are profiled by the report:

Department and Variety Stores Department and Variety Stores
W.J.Aldiss Ltd House Of Fraser PLC
Allders Ltd T J Hughes Ltd
Allders Department Stores Ltd James Beattie PLC
Arcadia Group Ltd James Selby Ltd
Banburys Ltd Jenners, Princes Street, Edinburgh Ltd
Barkers (Northallerton) Ltd John Lewis PLC
J E Beale PLC Joplings Ltd
Bhs Ltd Laura Ashley Ltd
Bodgers Of Ilford Ltd J.H.Leeke & Sons Ltd
Boswells Of Oxford Ltd Liberty PLC
W.Boyes & Co., Ltd Marks & Spencer P.L.C.
W.P.Brown Ltd MitsUKoshi (U.K.) Ltd
Brown & Jackson PLC J. T. Morgan & Co. (Swansea) Ltd
Brown & Phillips Ltd Morleys Of Brixton Ltd
Cameron Retail Furnishings (N.I.) Ltd Morleys Stores Ltd
Chadds Of Hereford Ltd Next PLC
Clements (Watford) Ltd Nwf Retail Ltd
S.F. Cody's Archive Of Originals Ltd Palmers (Gt.Yarmouth) Ltd
Collingwood-Batchellor Ltd Peacock's Stores Ltd
Dan Evans (Barry) Ltd Pearsons (Enfield) Ltd
W.J.Daniel & Co. Ltd Peter Crisp Ltd
David Morgan Ltd Poundstretcher Ltd
Debenhams Retail PLC Primark Stores Ltd
J.Dixon & Son, Ltd Ron Ramsdens Ltd
Dunnes Stores (Bangor) Ltd Roomes Stores, Ltd
W.Eaden Lilley & Co. Ltd Roys (Wroxham), Ltd
Elys (Wimbledon) P.L.C. G. Rutherford & Co. Ltd
Fenwick, Ltd Selfridges Retail Ltd
Fortnum & Mason PLC Smith Bradbeer & Co. Ltd
Goulds (Dorchester) Ltd Smith Bros Of Tooting Ltd
Harrods Ltd Tk Maxx
E.T.Harvey Ltd Chas. J. Townrow & Sons Ltd
Harvey Nichols & Co. Ltd Ulster Stores Ltd
Hatcher & Sons, Ltd Watt Bros (Glasgow & Edinburgh) Ltd
Hoopers Ltd H.E.Williams & Co., Ltd
Hourstons Ltd Woolworths PLC

TABLE OF CONTENTS

Company Selection
1.1 Industry Definition
1.2 Company Selection
1.3 Changes of Name
1.4 New additions to the report
1.5 Treatment of Holding Companies & Subsidiaries
1.6 Large Changes in Accounts
1.7 Exceptionally Large Companies
Industry Overview
An expert review of the conclusions that can be drawn from the report, putting business developments into the context of recent industry developments and focusing on the performance of the industry as a whole and the leading players in it.
Company Profiles
Company data is presented alphabetically, with each company having a detailed profile over two pages showing address, activities, directors, subsidiaries and other company details plus Profit & Loss, Balance Sheet, Ratio Analysis and comparative performance.
Performance League Tables
These list companies in order of their performance compared to each other on key performance factors:
SIZE
Sales
Pre-tax profit
Total Assets
Number of Employees
PROFITABILITY
Return on Capital
Return on Net Assets
Pre-tax Profit Margin
Return on Investment
Profit per £ of Pay
EFFICIENCY
Asset Utilisation
Sales / Fixed Assets
Stocks / Sales
Debtor Days Outstanding
LIQUIDITY
Current Ratio
Quick Ratio (Acid Test)
GEARING
Total Debt / Net Worth
Equity Gearing
Income Gearing (Interest Cover)
EMPLOYEE PERFORMANCE
Pay per Employee
Sales per Employee
Capital Employed per Employee
Pay / Sales
OTHER
Exports / Sales
GROWTH
Sales growth
Pre-tax Profit Growth
Total Assets Growth
Number of Employees Growth
Exports Growth
Industrial Profile
This provides a Balance Sheet and a quick Profit and Loss account for the industry as a whole. Where the industry has been subdivided into 'subsectors', a profile for each of these is given, as well as a profile for the industry as a whole.
Analysis Notes
Definitions
Company Index

EXECUTIVE SUMMARY

This Business Ratio report focuses on the leading 72 companies operating as department and variety stores. This summary brings you a sample of key details from this invaluable report. The report itself includes many further analyses of the performance of individual companies and the industry as a whole. The report analyses company and industry performance over the three years up to 7th February 2004. During this period, the average company has seen sales increase by 12.3 percent, from £164.7 million in 2001/02 to £184.9 million in 2003/04. Pre-tax profits increased at the higher rate of 30.4 percent, from £12.6 million in the first year of analysis to £16.5 million the final year.

Profitability

Employee Performance

Top Ten Companies by Turnover

    Profit Margin     Asset Utilisation     Total Debt/Net Worth     Sales
Company Name and   (%)           (%)     Growth
Third Year Sales £ million   03/04 02/03 01/02 03/04 02/03 01/02 03/04 02/03 01/02 %
Report Averages   9 8.8 7.7 1.55 1.56 1.53 48.2 42.7 26.1 6
Marks & Spencer PLC 8019.1 8.9 4.2 1.9 0.92 0.92 1.05 59.4 58.5 38.5 0
John Lewis PLC 4414.6 2 1.9 2.1 1.58 1.55 1.61 37.6 35 29 5
Next PLC 2516 14.1 13.7 14.3 2.16 2.22 1.9 228 105.9 5.4 16
Woolworths PLC 2120.1 1.1 0.9 -0.7 2.6 2.46 2.47 311.6 360.3 338.5 1
Debenhams Retail PLC 1810.2 8 8.9 8.6 1.44 1.41 1.38 54.8 47.2 50.3 7
BHS 881.2 11.6 10.9 2.3 1.7 1.55 1.64 10.2 22 7.7 4
House Of Fraser PLC 680.5 2.7 2.3 2.4 1.37 1.48 1.96 34.7 40 28.9 -16
Allders 571.5 -13.1 1.4 2.7 2.47 2.02 2.06 34.8 19.3 9.6 3
Primark Stores 562.7 11.9 10 11 1.84 1.58 1.44 92.2 154.9 148.4 22
TK Maxx 558.3 3.3 4.6 1 2.24 2.17 1.95 40 25.2 38.3 26

Text © 2005 Prospect Swetenhams

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Last updated by Amanda Porteous February 2005

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