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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Mar- 2024 -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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4 March
Frasers rescues Wiggle from administration
Frasers Group has acquired online bicycle retailer Wiggle out of administration, The Sunday Times has reported. Frasers reportedly agreed a deal to purchase the brand and intellectual property of both Wiggle and Chain Reaction Cycles, another online bike store. The Times said it was understood that the Sports Direct owner…
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Feb- 2024 -29 February
Frasers Group CMO exits amid marketing team restructure
Frasers Group chief marketing officer Beckie Stanion has left her post amid a restructure of the company’s marketing team, leaving 20 jobs at risk, according to Drapers. The company stated this move aims to “improve operational efficiency and delivery across all areas of marketing functions” and the business has launched…
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21 February
Strong Walmart sales boosted by omnichannel model in Q4
Walmart has reported strong fourth quarter results, as revenues grew by 5.7% to $173.4bn (£137bn) over the holiday quarter. Its performance was boosted by its omnichannel model, which it said “continues to resonate with customers helping to deliver strong growth”. Elsewhere, it reported a consolidated operating income up $1.7bn (£1.3bn),…
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21 February
Angling Direct sees group revenues rise to £81.7m
Fishing tackle retailer Angling Direct has reported a 10.2% increase in revenue to £81.7m for the year ended 31 January 2024, despite facing a “challenging” consumer landscape and disruption to fishing caused by storms in the final few weeks of FY24. The group’s UK store sales were up 7.6% to…
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Jan- 2024 -31 January
John Lewis ‘will return to profit this year’, White insists
John Lewis Partnership chair, Dame Sharon White, has said the business will return to profit this year, The Telegraph has reported, following reports that up to 11,000 jobs could be cut under the retailer’s turnaround plan. White reportedly told workers that the retail business would “more than break-even” after suffering…
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29 January
Frasers Group to open new locations in Queensgate
Frasers Group is set to open several dynamic stores in Queensgate, Invesco’s 835,000 sq ft shopping centre, located in the heart of the city. Frasers Group will open the doors to a Frasers and Sports Direct, occupying the former John Lewis space. These stores will create compelling retail destinations in…
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29 January
John Lewis Partnership mulls 11,000 job cuts
John Lewis Partnership is reportedly considering cutting up to 11,000 roles over the next five years as part of a turnaround plan for the group. According to The Guardian, news of the potential cuts comes after the group slashed redundancy terms this week. Sources told the paper that at least…
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26 January
John Lewis could cut jobs amid halved redundancy payouts
John Lewis Partnership has implied that it could make job cuts across the business after it slashed its redundancy payouts, The Telegraph has reported. It is understood that the employee-owned retailer told partners this week it was halving its current two-week redundancy pay per year of service policy as it…
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19 January
M&S to invest £30m in Scottish stores
M&S has unveiled plans to invest £30m in bricks and mortar stores across Scotland. The retailer’s investment will deliver more than five new store openings and expansions over the next 18 months. These plans include a £15m investment in M&S Aberdeen Union Square which will almost double in size and…
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