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- 2024 -27 November
DFS secures SBTi approval for emissions reduction targets
Sofas retailer DFS Furniture has announced that its near-term science-based emissions reduction target has been approved by the Science Based Targets initiative (SBTi). In the near term, the group aims to reduce Scope 1 and 2 greenhouse gas (GHG) emissions by 55% by 2033 and, additionally, that 73% of Scope…
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11 November
Ikea profits rise despite sales falling 8.9% in FY24
Inter Ikea, owner of the Swedish furniture brand, has reported higher profits despite a decline in revenues during the year that ended on 31 August 2024. In the retail segment, revenues for the group were down 8.9% to €26.5bn (£21.9bn), compared to €29bn (£24bn) in FY23. Meanwhile, operating profit slightly…
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6 November
M&S profits rise by 17% in half-year results
M&S has welcomed “further progress” in its half-year results as profit-before-tax rose by 17.2% to £407.8m for the half-year ended 28 September 2024. Alongside this, the company’s revenues rose 5.7% to £6.48bn, up from £6.13bn in the same period last year, attributing its ‘Reshape M&S for Growth’ strategy to the…
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5 November
John Lewis partners with Klarna for BNPL offer
John Lewis has partnered with Klarna to offer online customers the choice to check out with its interest-free ‘Pay in 3’ product, allowing shoppers to spread the cost of their purchases over 60 days. The first payment is made at the time of purchase, followed by two subsequent payments at…
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Oct- 2024 -30 October
Dreams opens new premium concept store in East Sheen
Dreams has announced the opening of its new premium concept store in East Sheen, which it said represents the “future of its retail strategy”. The new East Sheen store concept is the first of its kind that is designed specifically for smaller high street locations. Covering 4,000 square feet over…
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28 October
John Lewis Partnership to recruit ‘record’ 12,500 seasonal roles
The John Lewis Partnership (JLP) has revealed it is recruiting a record 12,500 temporary roles across the country – 4,100 more jobs compared with last year – as customer numbers hit record levels and it doubles down on its commitment to customer experience. The roles, comprising those in Waitrose and…
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25 October
Frasers Group opens 70,000 sq. ft Flannels Leeds flagship
Frasers has opened a new store in Leeds marking its sixth ‘flagship’ store with additional locations in London, Leicester, Liverpool, Sheffield and Newcastle. The store, which stretches across six floors and over 70,000 sq.ft, offers luxury and contemporary designer fashion brands, beauty retail concepts, a luxury resale space, full-scale homeware…
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25 October
John Lewis to invest £800m in store renovations over next four years
John Lewis has announced an £800m investment to enhance the group’s stores over the next four years, with the makeovers to its flagship store on Oxford Street and its High Wycombe and Cheadle locations being the first to be completed. While each store so far has gained new and bigger…
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24 October
Dunelm sales hit £403m in Q1
Dunelm has posted a 3.5% rise in total sales to £403m for the 13-week period ended 28 September 2024. The homewares retailer said that growth was broad-based across its categories, with the sofa collections performing “especially well”. Digital sales growth in Q1 was strong, up 2 ppts as a proportion…
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18 October
Furniture Village doubles employee profit share payouts
Furniture Village has doubled its employee profit share payouts following its strong trading performance for the year ended in June. After the retailer’s share buyback in October 2022, resulting in the business becoming 100% family owned, it implemented a companywide profit-sharing scheme known as the ‘Family Partnership’. The group’s full-year…
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