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.
-
Jan- 2022 -17 January
Matalan revenues reach £777.9m
Matalan has reported its total revenues increased 19% to £291.4m for the 13 weeks ending 27 November 2021 (Q3), compared to £244.8m in the same period in 2021, meaning its total revenue has reached £777.9m from the previous total of £578.1m. The company’s operating profits also increased by 370% from…
Read More » -
4 January
New Selfridges owners unveil hotel plans for flagship store
The new owners of Selfridges, The Central Group, reportedly plan to open a new luxury hotel and serviced apartments as part of a revamp of its flagship Oxford Street store. According to the Financial Times, the Thai-based group and its Austrian real estate company the Signa Group also want to…
Read More » -
Dec- 2021 -13 December
Frasers Group launches £70m share buyback
Frasers Group has announced that it intends to launch a new share buyback scheme for a purchase price “no greater” than £70m. The buyback programme is set to begin today (13 December) and end “up to and including” the last trading day prior to its financial year end on 24…
Read More » -
8 December
JYSK welcomes ‘record’ FY21 profits in UK&I
Danish furniture and home furnishings brand JYSK has announced record results in the UK Ireland during the financial year 2020/2021, with total sales reaching €68.9m (£58.7m), an increase of 67% on previous year. Despite what the company called a “challenging end to 2020 and start to 2021”, 1.1 million customers…
Read More » -
8 December
Fortnum and Mason appoints new chief operating and innovation officer
Fortnum and Mason has appointed Iain Robertson to the newly created role of chief operating and innovation officer. Robertson will join the luxury brand in February 2022, and will be responsible for supply chain and logistics. He joins from Burberry, where he has been for 17 years, most recently in…
Read More » -
7 December
Harrods strike averted after pay rise victory
Planned strike action at Harrods has been averted after the luxury department chain offered its restaurant staff a pay rise amid an ongoing pay dispute. Its offer to take the pay above the London Living Wage came days into a ballot for strike action, organised by United Voices of the…
Read More » -
7 December
Harrods launches new partnership with Klarna
Luxury retailer Harrods has announced a new partnership with Klarna, a global retail bank, in a bid to offer customers more “flexible” and “convenient” payment options. Harrods UK will allow shoppers to use Klarna’s Pay in three payment options for beauty purchases in Harrods Beauty Hall, as well as across…
Read More » -
2 December
Thai group closes in on £4bn deal to buy Selfridges
The Weston Family are close to agreeing a deal with Thailand’s Central Group over the £4bn sale of Selfridges. According to the Times, the Weston Family have reportedly agreed terms with the Thai group this week and are hoping to close the deal by the end of the year. The…
Read More » -
Nov- 2021 -22 November
US equity firm Apollo examines potential M&S buyout
US private equity firm Apollo has reportedly been considering a buyout of Marks and Spencer, after initially considering it to be undervalued. According to the Sunday Times, it said city sources believe that Apollo considered M&S to be a “bargain” and that the impact of Covid-19 had unfairly “weighed down”…
Read More » -
18 November
House of Fraser to close its Oxford Street store
Mike Ashley’s Frasers Group has confirmed that its flagship store on London’s Oxford Street is to close permanently. The retailer revealed that it had been served its notice by the landlord after planning permission was granted to redevelop the site. Frasers added that since it acquired the site in 2018…
Read More »
