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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Mar- 2018 -8 March
Owner of John Lewis and Waitrose reports 77% drop in annual profits
The John Lewis Partnership has announced a 77% drop in annual profits and has cut the annual bonus given to staff. Pre-tax profit for the year to 27 January fell to £103.9m while the employee-owned partnership’s bonus scheme fell to 5% of salary – down from 6% for 2017/18 and…
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7 March
John Lewis named as ‘best retailer to work for’
Department store chain John Lewis has been named as best UK retailer to work for, according to a list released today by job website Indeed. In the list of best places to work in the private sector, it topped the list based on 1,066 reviews. Cosmetics retailer Lush came second,…
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7 March
Debenhams to rent flagship store space to hot-deskers
Debenhams is reportedly looking for a way to make use of its flagship store’s excess space by renting it to a working space company. The retailer is said to be in the early stage talks with hot-desking firm WeWork. The news comes after Debenhams chief executive Sergio Bucher announced plans…
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6 March
Consumer spending on ‘non-essentials’ increases
According to Barclaycard February 2018 saw increased sales of non-essentials, as consumers continued to prioritise their spending on the ‘experience economy’. Data from the group also revealed supermarket spending (3.2%) returned to levels previously seen over the past six months, after a spike of 4.4% in January 2018. Entertainment performed…
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1 March
UK shoppers put off by irrelevant retail offers
According to consumer research conducted by point of sale marketing firm Ecrebo, more than four in 10 (44%) UK shoppers shy away from brands that don’t offer them personalised, relevant offers. The aim of the research was to gauge consumer attitudes toward retail loyalty schemes, the benefits they offer and…
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1 March
Poor washroom odour could damage business reputation
A study released by Initial Washroom Hygiene examined the state of air care in public and office washrooms, and the wide-ranging implications this can have on businesses. The global report (based on 5,000 respondents – 1,000 across the UK, Australia, France, Italy, Malaysia), titled ‘Washroom malodour: Experiences, perceptions and implications…
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Feb- 2018 -27 February
Marks and Spencer publishes gender pay gap figures
Marks and Spencer is the latest retailer to publish its gender pay gap figures, with a claim that its gaps were lower than both the UK and retail average. For the year of 2017, the company reported a mean pay gap of 12.3% between its male and female staff, while…
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23 February
Dominic Chappell fined £87,000 over pension scheme failure
Former BHS owner Dominic Chappell has been ordered to pay a total of £87,170 in fines and court fees after he was found guilty of failing to provide pensions information to The Pensions Regulator (TPR). In January, the one-time BHS owner was found guilty of failing to provide information about…
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23 February
Dominic Chappell faces sentencing over pension investigation
The one-time BHS owner who purchased the ailing chain from Philip Green for a tiny sum before its collapse, Dominic Chappell, is expected to be sentenced in court today. He is accused of failing to provide information about the company’s pension scheme after it went into administration in 2016. Chappell…
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12 February
House of Fraser appoints Rothschild to refinance debt
House of Fraser has appointed independent financial advisory group Rothschild to advise it as the department store chain prepares to refinance its debt package. Rothschild will advise the retailer on the refinancing of £225m of its £390m debt package, which matures in July 2019. Its remaining £165m publicly traded bond…
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