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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Jan- 2020 -13 January
Debenhams in talks to offload executive pension scheme
Embattled department store chain Debenhams is reportedly in talks over the buyout of its executive pension scheme, which holds over £200m in assets. According to Sky News, Debenhams is closing in on a deal with insurance company Aviva that, if completed, will guarantee future benefits to members of the senior…
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13 January
Beales set to ‘collapse’, 1,000 jobs at risk
Department store Beales warns it is on the brink of collapse, which will result in over 1000 jobs at risk unless it can find a new owner to buy the business. According to The Guardian, Beales has filed a notice of its intention to appoint administrators, as it considers its…
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9 January
M&S reports fall in festive sales revenues
Marks and Spencer has reported a 0.7% decline in revenues in its third quarter of the current financial year to £3bn , attributed to underperformance in clothing and home sales. For the 13 week period ending 28 December, the retailer reported a 3.7% fall in clothing and home sales to…
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9 January
John Lewis boss steps down amid poor Christmas sales
John Lewis Partnership has announced its managing director, Paula Nickolds, will step down amid “weak” sales over the Christmas period. Nickolds has worked at the company for 25 years, and will step down from the board in February. The group said she had “played a central role” in a variety…
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6 January
Debenhams announces 19 store closures
Debenhams has announced the closure of 19 of its UK stores, resulting in 660 job losses. The department store, which entered administration in April last year, launched its CVA in the same month. The closures are due to take place during the next fortnight, with stores closing from 11 January,…
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3 January
Next hikes profit forecast after Christmas sales boost
Next has announced a lift to its full-year profit guidance after strong trading over the festive period. Full price sales rose by 5.2% year-on-year for the period October 27 to December 28, 1.1% more than estimated by the retail giant. Following this result, the retailer’s profit guidance for the full…
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Dec- 2019 -11 December
Debenhams appoints John Walden and Kevin Conroy as non-executive directors
Department store Debenhams has appointed John Walden and Kevin Conroy as non-executive directors of Celine Jersey Topco, the parent company of the Debenhams Group. Walden is currently chairman of Naked Wines (formerly known as Majestic Wine plc) and was previously held the position of chairman at Holland and Barrett International.…
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Nov- 2019 -29 November
Heal’s announces Chiswick Outlet store
Furniture retailer, Heal’s has announced the opening of its new outlet store, opening on Chiswick High Street next week. The new 2,090sq ft store will open on 3 December, and will feature cancelled, returned and overstocked items at reduced prices. The store will offer 70% off across Heal’s furniture, lighting,…
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18 November
John Lewis and Waitrose to launch first ever concept store
John Lewis and Waitrose have announced the launch of a new ‘concept’ store, set to open in Southampton later this week. The John Lewis Partnership said the store hopes to create “experience playgrounds” for customers, with greater focus on increasing hands-on experiences whilst shopping. The store will incorporate multiple new…
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Oct- 2019 -10 October
Debenhams secures £50m cash injection from creditors
Debenhams has revealed it has secured a £50m loan facility with some of its existing lenders to help it through the busy festive period. Following the successful consent solicitation concluded on 6 September 2019, the department store chain said the new cash injection will provide the group with an additional…
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