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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Nov- 2021 -15 November
Thai company eyes Selfridges buyout
Central Group, a Thai-based company which owns Rinascente, the Italian department store, is reportedly considering entering a multi-billion pound takeover bid for Selfridges, according to Sky News. The group, which is controlled by the Chirathivat family, is said to be one amongst a “number of parties” which have expressed an…
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4 November
Harrods reports £68m loss as restaurant staff to vote on strike action
Luxury department store Harrods has reported a loss of £68m for the 52-week period ending 30 January 2021. According to its latest set of accounts published on Companies House, it comes after its gross transaction value decreased by 51% to £1.09bn and its turnover also fell by 50% to £429m…
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Oct- 2021 -21 October
John Lewis opens 10 Christmas Emporiums
John Lewis has announced the opening of its festive Christmas Emporiums across 10 stores. The Emporiums will host in-store events and festive workshops, offer personalised gifting experiences alongside presents and decoration options. In another step for a more sustainable Christmas, the department store said it has removed all single-use plastic…
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18 October
The Weston Family in talks with QIA over £4bn Selfridges sale
Selfridges owners, the Weston Family, are reportedly in talks with the Qatar Investment Authority over a potential £4bn sale of the department store chain. The Mail On Sunday has reported that sources close to negotiations said that the sovereign wealth fund has moved to the front of the queue for…
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8 October
John Lewis Partnership to open LGV Driver Academy
The John Lewis Partnership is set to open an LGV Driver Academy next month, in a bid to train drivers in 13 weeks to sit the DVLA LGV theory and practical safety tests and tackle the current drivers shortage. It has pledged to train up to 90 people per year…
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5 October
New retail brands set to open at Battersea Power Station
Battersea Power Station has announced that further retail brands are set to open in the grade II* listed building. Some of the latest British and international retail brands planning to open on its premises include: Ralph Lauren, Calvin Klein, Tommy Hilfiger, Ray-Ban, L’Occitane, The Body Shop and Mango. Developers at…
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Sep- 2021 -29 September
Next raises guidance but warns of staff shortages
Next has raised its full-year guidance following a strong performance in its half-year results, and now expects its profit-before-tax to be £800m, up 6.9% against 2019, £36m ahead of its previous guidance of £764m. The group also anticipates its full price sales guidance for the rest of the year to…
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24 September
Selco to open two new branches by 2022
Selco has announced plans to open two new branches in the last three months of 2021, in Canning Town next month and Rochester in December. The new branches will create more than 60 jobs in local areas. The warehouse-retailer will have opened three stores in 2021, after the launch of…
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16 September
John Lewis Partnership reduces H1 losses to £29m
The John Lewis Partnership has reduced its losses in the first six-months of the year ending 31 July to £29m from a previous year’s loss of £635m. Revenue rose 5% during the period to £5.2bn from £4.9bn in 2020 and was boosted by improved sales performance. The company revealed that…
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15 September
John Lewis Partnership to add 7,000 temporary roles this Christmas
The John Lewis Partnership has revealed that it will be adding more than 7,000 temporary roles across the country this Christmas to meet increased demand over the busy festive period. In Waitrose, the group will be recruiting seasonal roles across its 331 shops, including supermarket assistants, night shift workers and…
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