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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Feb- 2023 -28 February
Pippa Wicks steps down as John Lewis director
Pippa Wicks, the executive director of John Lewis, has announced she is standing down from the group with immediate effect. She will be succeeded by Naomi Simcock, who is currently retail director of the brand, on an interim basis. Following Wicks’ departure, Simcock will lead the delivery of the 2023…
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15 February
Dunelm profits fall 17% despite sales increase
Home retailer Dunelm has announced a 17% fall in its pre tax profits to £117m, down from £141m, for the 26 weeks ended 31 December 2022. The firm revealed the fall in profit comes despite a 5% increase in sales to £835m compared with £766m from the first half of…
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Jan- 2023 -20 January
Eve & Renshaw to cease trading after 240 years
Eve and Renshaw, one of the UK”s oldest department stores, has announced it will cease trading after 240 years of operation. The family-run business confirmed that its last day of trading will be 4 March 2023, while its online shop will close on 30 January. It comes as the business…
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16 January
M&S announces £480m store investment plan
Marks and Spencer has announced a £480m plan to invest in 20 “bigger and better” stores over the next two years. The new store pipeline for 2023/24 includes eight full line destination stores in key city locations. These include a new 97k sq ft store in Leeds White Rose and…
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6 January
Independent department store Sandersons reports record festive sales
Independent department store Sandersons Boutique has hailed a record-breaking festive sales period, despite facing a cost-of-living crisis, freezing weather conditions and numerous postal strikes. It revealed the last full week of Christmas shopping (w/c 19th December) saw record breaking figures with a 14.86% increase in like for like sales against…
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Dec- 2022 -19 December
Ikea UK profits fall by nearly a fifth despite £2.2bn in sales
Ikea UK has announced that its profits have fallen nearly a fifth to £49.6m, despite posting sales of £2.2bn for the full year ended 31 August 2022. The company’s total online sales grew to 36% compared to 19% in 2019. Consumers also returned to stores, with store visitation increasing by…
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8 December
Acquisitions boost Frasers profits by 53%
Frasers has welcomed a strong performance in its half-year results, with pre-tax profits soaring 53% to £284.6m, as sales were boosted by a series of acquisitions over the period. Total revenues across the group rose by 12.7% to £2.6bn in the period ended 23 October 2022, as the group continued…
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7 December
Fenwick sells Bond Street store for £430m
Fenwick, the 140-year-old department store, has announced that it will be closing its New Bond Street branch in central London as it has been sold to Lazari Investments for £430m. As a result, it is reported that the store, along with the adjoining property, will shut its doors sometime in…
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5 December
John Lewis and Waitrose cut heating and lighting to tackle bills
John Lewis and Waitrose are set to reduce their energy consumption this winter, with the department store cutting its heating and the supermarket dimming its lights in a bid to control high energy costs, The Guardian has reported. It comes as the John Lewis Partnership, which includes Waitrose, reportedly said…
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2 December
Frasers Group acquires Amara
Frasers Group CEO Michael Murray has confirmed that the group has acquired Amara, a luxury homewares brand, as it looks to “build on its ambition” of creating a “credible homeware destination” for Flannels. In a statement on Linkedin, Murray said: “I am pleased to announce, we have acquired Amara.com, a…
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