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- 2023 -19 April
ScS appoints new non-executive director
ScS, the upholstered furniture and flooring retailer, has announced the appointment of Swarupa Pathakji to the role of a non-executive director with effect from 2 May 2023. In her new role, Pathakji will become a member of the audit, remuneration and nomination committees. Pathakji is a director of Kings Yard…
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3 April
John Lewis pension assets plunge £2.8bn
John Lewis Partnership saw the market value of its pension assets plunge by £2.8bn last year amid a set of poor financial results. As revealed in its recent annual results, the value of the fund fell from £7.23bn to £4.42bn, largely due to a fall in the value of liability-driven…
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Mar- 2023 -24 March
Ikea signs legal agreement with EHRC to tackle sexual harassment
Ikea UK has signed a legal agreement with the Equality and Human Rights Commission (EHRC), to improve its policies and practices in relation to sexual harassment after a complaint by a former employee. The agreement comes after the EHRC was made aware of an allegation of sexual assault and harassment…
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23 March
Ownership of business will ‘remain a constant’, says John Lewis chair
John Lewis chairwoman Sharon White has assured that employees’ ownership of the John Lewis Partnership will “remain a constant”, following reports that the group was considering selling a minority ownership stake. It comes as reports emerged earlier this week that the employee-owned group could dilute its 100% staff ownership structure…
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22 March
Porcelain Superstore’s sales rise to £16m
Online tile retailer Porcelain Superstore has reported a rise in sales to £15.9m from £15m in 2021, recording its eighth consecutive year of growth despite supply chain issues. Sales for 2021 totaled £15m, more than doubling the £6.65m recorded during 2020. The amount in 2019 was £3,706,000, a significant rise…
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20 March
John Lewis mulls end to 100% staff ownership structure
John Lewis is considering diluting its 100% staff ownership structure in a bid to raise investment after the business faced a year of heavy losses. According to The Sunday Times, chairwoman Dame Sharon White is reportedly in the early stages of exploring a proposal to change its partnership structure in…
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16 March
John Lewis Partnership appoints new CEO
The John Lewis Partnership has announced the appointment of Nish Kankiwala as its new CEO. Kankiwala has been a non-executive director of the John Lewis Partnership since April 2021 and he is also the former CEO of Hovis and has held senior roles at Burger King and PepsiCo. He will…
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16 March
John Lewis axes bonus as losses surge to £234m
John Lewis has seen losses plummet to £234m in its full-year results, down from a loss of £27m the prior year, with the group axing its staff bonus for a second time and warning of future job losses. It comes as the impact of inflation was “felt across the business”,…
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6 March
WHSmith to target stationary market with new Curi.o.city stores
WH Smith has reportedly revealed plans to open a souvenir and stationery store called Curi.o.city as it looks to fill the void left by the collapsed paperchase, according to The Times. According to the report, WH Smith will open standalone shops, one under the new fascia in Gatwick airport’s south…
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1 March
M&S set to increase salaries by 7% from April
British retailer M&S will raise the salary of more than 40,000 customer assistants by 7%, in a bid to help with the cost of living crisis. Starting from April, the hourly pay will jump from £10.20 to £10.90, an increase well ahead of the National Living Wage. Customer assistants in…
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