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- 2020 -26 November
ScS appoints new CEO as trading remains steady
ScS has reported its trading remains “in line with expectations”, alongside the announcement of a new chief CEO ahead of the retailer’s AGM. The furniture retailer said its like-for-like order intake increased by 15%, from 26 July to 1 November, but declined by 65.2% in the three weeks to 21…
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24 November
JD Sports enters Debenhams takeover talks
JD Sports has reportedly entered into talks with advisors regarding a deal which would see the sportswear company take full control of Debenhams. According to the Telegraph, the retailer is interested in purchasing the entire department store shop estate, but is not looking to convert the outlets into JD Sport…
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16 November
JD Sports enters race for Debenhams
JD Sports has reportedly entered the race to acquire embattled department store Debenhams, and has been granted access to Debenhams’ finances in a secure data room. According to The Telegraph, JD Sports has emerged as a potential contender after being given access to Debenhams’ finances within the last fortnight. One…
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9 November
Harrods forced to reorganise £200m credit
Harrods has been forced to reorganise its £200m credit line due to the second national lockdown causing the closure of its flagship Knightsbridge store. According to The Sunday Times, the department store negotiated a revolving credit facility with the Qatar National Bank in August, to avoid breaching covenants it made…
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8 November
John Lewis calls for clarity on store reopenings
John Lewis has issued a plea to the government to provide clarity on whether its stores will be able to reopen in early December. According to The Daily Mail, the department store chain has called for clarity “as soon as possible” as its larger stores would need time to re-open…
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6 November
Dominic Chappell jailed for six years for tax evasion
The former owner of BHS, Dominic Chappell, has been jailed for six years for evading paying tax from the deal which saw him acquire the now defunct department store. According to Sky News, Chappell was convicted after he failed to pay £580,000 in tax on the £2.2m income he gained…
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5 November
M&S confirms it will stay open during lockdown
Marks and Spencer has confirmed that its clothing and home division will remain open despite the lockdown restrictions. According to Drapers, M&S CEO Steve Rowe said that he wanted to make it “very clear” that it would follow the government guidelines but its stores would “remain open”. He said: “We’re…
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4 November
John Lewis to cut 1,500 jobs
John Lewis is set to cut around 1,500 staff roles at its head office operations between now and April 2021, as part of the retail group’s ‘Partnership Plan’. It is believed the cuts will save another £50m on top of £50m of recent efficiencies, in order to turn to sustainable…
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4 November
M&S swings to first loss in 94 years
Marks and Spencer has swung to a pre-tax loss of £87.6m in the half-year ended 26 September, down from the £158.8m profit reported the year before, marking its first ever loss in 94 years of trading as a public company. The group saw its profit plummet by 77% to £61.8m,…
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2 November
John Lewis Partnership launches charity Christmas campaign
John Lewis and Waitrose have announced the launch of a “major campaign” next month which will provide a “lifeline” for at least 100,000 families. The initiative will support the charities Fare Share, which helps those facing food poverty and Home-Start which works with parents who need support. The campaign will…
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