Department Stores
The latest news, updates and analysis on the department stores segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Apr- 2024 -22 April
Middle East and Chinese investors eye up Selfridges
Investors from the Middle East and China are reportedly eyeing up Selfridges amid the financial troubles of its Austrian co-owner Signa, according to The Times. Thai conglomerate Central Group, a fellow co-owner, wants to buy out Signa’s remaining stake in the department store chain with another partner. Central group is…
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18 April
Dunelm Q3 sales jump 3% despite ‘difficult trading conditions’
Dunelm has revealed that its sales for the 13 weeks ended 30 March 2024 rose 3% to £435m year-on-year. Alongside this, the company’s total digital sales rose 1% up to 37%, including home deliveries. Despite what it called a “challenging trading environment”, Dunelm expects its FY24 PBT to be broadly…
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16 April
B&M expects profits to hit top end as revenues jump 10%
B&M has forecast its full-year profits to hit the top end of its previous guidance after it revealed a 10% rise in revenues to £5.5bn for the 53 week financial reporting period to 30 March 2024. The group now expects its FY24 group adjusted EBITDA (pre-IFRS 16) to be £629m,…
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12 April
InPost appoints new UK CEO
InPost has announced the appointment of Neil Kuschel as UK CEO with immediate effect. It said Kuschel has extensive knowledge and experience in the logistics and technology industries, with a focus on supporting UK eCommerce retailers in their growth journey. After a 20-year career with DHL, Kuschel joined the cross-border…
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5 April
Majestic acquires Vagabond Wines
Majestic, the UK’s largest specialist wine retailer, has bought Vagabond Wines out of administration, saving nine of its wine bars from closure. The strategic acquisition provides clarity and job security for 171 Vagabond colleagues following a period of uncertainty, after the business went into administration last month. Following the acquisition,…
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Mar- 2024 -18 March
Saudi PIF and Kering eye Selfridges stake
Saudi Arabia’s Public Investor Fund (PIF) and Gucci owner Kering are reportedly considering a stake in luxury department store Selfridges as its co-owner continues to struggle with its financing, according to The Telegraph. The outlet said that the collapse of Austrian co-owner Signa has left Thailand’s Central Group searching for…
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14 March
John Lewis returns to profit but pays no staff bonus
John Lewis has revealed a pre-tax profit of £42m before exceptional items for the year ended 27 January 2024, up from a loss of £78m last year. Despite the return to profit the Partnership will not pay out staff bonuses for the third time in four years. The company stated…
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8 March
Deliveroo expands Screwfix partnership to 15 locations
Deliveroo has reportedly expanded its Screwfix partnership to 15 locations since its launch, according to Retail Week. The news comes after the exclusive tie-up between the two groups was announced in November 2023 as part of its Deliveroo Shopping feature, which allows users to shop from a range of non-food…
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6 March
John Lewis staff pay to rise 10% amid £116m investment
John Lewis Partnership reportedly has plans to boost staff pay by 10% as part of a £116m investment, according to Retail Week. The Waitrose owner will reportedly confirm the “record” pay increase when it releases its latest full-year results next week on 14 March. From 1 April, the minimum pay…
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4 March
M&S CEO calls for business rates and apprenticeship levy reform
M&S CEO Stuart Machin has publicly called for Chancellor Jeremy Hunt to introduce reforms to business rates and the apprenticeship levy in his upcoming budget. In a post on LinkedIn, Machin stated that the government must do more to understand the importance of retail. He has urged the chancellor to…
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