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.
-
Nov- 2018 -6 November
Debenhams ratings downgraded by Moody’s
Debenhams has had its ratings downgraded for a second time in two months by ratings agency Moody’s. Moody’s Investors Service downgraded the long-term corporate family rating (CFR) of the UK’s largest department store group Debenhams to Caa1 from B2. It has also downgraded Debenhams probability of default rating (PDR) to…
Read More » -
Oct- 2018 -30 October
Sofa.com to replace ScS at House of Fraser
Furniture specialists Sofa.com is set to introduce its products to seven House of Fraser outlets, replacing some of the ScS concessions. Sofa and carpet retailer ScS announced it would pull its concessions from House of Fraser by January 2019 as the company said the partnership was “no longer beneficial” following…
Read More » -
30 October
Selfridges opens in-store skate park
Selfridges has opened an indoor skate park in its London flagship store as part of refurbishment work in its menswear section. ‘The Bowl’ has become the UK’s only free wooden indoor skate bowl with skate lessons offered for £20 per hour. Selfridges has also added The Designer Street Room to…
Read More » -
25 October
ScS to pull concessions from House of Fraser
Furniture and floorings retail chain, ScS, has announced it will cease trading within House of Fraser stores in its trading update for the 12 weeks ending 20 October 2018. The group said due to developments with House of Fraser over the last few months, it believed the partnership was “no…
Read More » -
25 October
Debenhams to close 50 stores amid record £491m loss
Debenhams has announced it will close 50 stores after reporting a record annual loss of £491.5m in the year to 1 September. The embattled department store said it will close almost a third of its 165 stores in the next three to five years leading to the loss of around…
Read More » -
22 October
Debenhams ‘could close a third of its stores’
It is rumoured Debenhams could be closing up to a third of its stores following a series of profit warnings and poor trading results. The embattled department store has 166 outlets across the UK and is reportedly looking to save £100m. The Sunday Telegraph reported that the chain would save…
Read More » -
22 October
House of Fraser’s Manchester Kendal store to close
House of Fraser has confirmed the closure of its flagship Kendals department store in Manchester, after rescue talks with landlords broke down. The store located in Deansgate is expected to close in early 2019, with around 160 staff expected to lose their jobs. A spokesman for House of Fraser said:…
Read More » -
17 October
‘Mixed weather’ leads to John Lewis and Partnership sales slip
John Lewis and Waitrose have both reported a sales decrease for its 11th week of trading, dragged down by a week of mixed weather and poor homeware performance. Compared with last year’s sales during the same period sales decreased by 1.6% to £210m, compared with £214m last year. For Waitrose…
Read More » -
12 October
Sports Direct acquires HoF Glasgow store in ‘Harrods of the North’ ambition
House of Fraser today (Friday 12 October) vowed to create the “Harrods of the North” – after announcing a £95m deal to acquire the freehold of the Frasers building in Glasgow. The flagship store already has a strong luxury brand presence which includes Hermes, Christian Louboutin, Prada and Gucci giving…
Read More » -
2 October
Debenhams merchandising director leaves amid trouble with insurers
Debenhams merchandising director Adele Calderwood has reportedly stepped down following yesterday’s news that the company’s insurers had pulled out. Calderwood, who joined the company from Arcadia in 2004 and worked for the retailer for 14 years, will now depart according to reports by Drapers. Debenhams told Retail Sector it had…
Read More »
