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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Oct- 2020 -26 October
Debenhams bidders given midweek deadline for £300m rescue deal
Potential suitors for the embattled department store chain Debenhams have been given a midweek deadline to make a £300m rescue bid or walk away. According to the Sunday Times, bidders, which include Mike Ashley’s Frasers Group, have been told to make a binding commitment by the end of Wednesday by…
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20 October
Hamleys to axe a quarter of staff
Iconic toy retailer Hamleys is reportedly set to cut more than a quarter of its London workforce. According to The Guardian, Hamleys is set to make 60 of its 208 staff working at its London store and nearby head office building redundant. Founded in 1760, Hamleys is the world’s oldest…
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15 October
Dunelm reports ‘very strong’ first quarter trading
Dunelm has reported “very strong’’ first quarter trading for the 13-week period ended 26 September with results coming in ahead of expectations. The homewares retailer saw its total sales increase by 36.7% to £359.1m, an increase of £96.5m year over the year. Online sales accounted for 29.7% of the quarter’s…
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14 October
Matalan profits drops by 44% at end Q2
Profit at retail chain Matalan dropped 44% to £25.8m during the 13 week period ending 29 August as the retailer reported lower revenues due to heavy discounting in a bid to clear stock. Revenue declined 11.6% to £258m, down from £292m the previous year. Net cash however, at the end…
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Sep- 2020 -28 September
John Lewis launches new virtual Christmas shop for consumers
Earlier this month John Lewis announced a £635m pre-tax loss for the half-year period ended July 2020. The department store chain is allowing shoppers to ‘walk-through’ its flagship Oxford Circus store and see emerging trends for the Christmas period. John Lewis has also revealed that customers are shopping for Christmas…
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24 September
Richest man in India interested in Debenhams acquisition
India’s richest man is reportedly one of the parties interested in making a bid to acquire Debenhams, according to Sky News. Ambani is the chairman and largest shareholder in Resilience Industries, the parent company of Reliance Retail which owns British toy retailer Hamleys. A number of parties, including Next and…
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17 September
Next raises forecast amid ‘resilient’ performance
Next has announced that full price sales were down by 33% in the first half of the year, following the impact of the pandemic. Full price sales in the last seven weeks of trading were up 4% on last year, however, with the group welcoming a “strong start” with sales…
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16 September
Nectar points given with Argos purchases for first time
Sainsbury’s has revealed that Nectar points will now be offered with Argos purchases for the first time ever. The supermarket chain, which acquired Argos in 2016, confirmed that Nectar card members will be able to earn points from purchasing Argos products and points will be doubled between 18 September and…
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14 September
Matalan CEO steps down
Matalan CEO Jason Hargreaves has stepped down from leading his family’s company after seven years at the helm. Hargreaves is the son of Matalan owner John Hargreaves, who founded the fashion and homewares retailer in 1985, and will continue at the company as a strategic adviser for the board. Steve…
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Aug- 2020 -25 August
DFS trading remains ‘strong’ despite lockdown
DFS announced today it is continuing to trade “strongly” both online and in showrooms despite the economic downturn, with year-on-year intake growth over the last six weeks that is equivalent to approximately £70m of revenues. This trading is “significantly” ahead of the furniture retailer’s initial expectations, with its previously announced…
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