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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Aug- 2024 -1 August
ASA bans Debenhams advert after ‘misleading’ 60% off claim
The Advertising Standards Authority (ASA) has banned a Debenhams advert for “misleading” customers about a “60% off” claim. On 9 March 2024, a paid-for Facebook ad for Debenhams featured text that stated “Step into Spring with up to 60% off fashion, home and beauty at Debenhams”. Below, a carousel of…
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Jul- 2024 -30 July
Selfridges CEO to step down after four years at company
Andrew Keith has announced he is stepping down from his role as CEO of Selfridges in the UK in order to “pursue new ventures”. Selfridges Group CEO André Maeder, who joined the company in May, is set to take over his responsibilities in the UK after Keith leaves the company this…
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23 July
Ikea partners with Tesco to open 100 more click-and-collect points
Ikea has announced that it is planning to open 100 more click-and-collect points at Tesco stores across the UK to create a more accessible shopping experience. The news comes as the retailer opened its 100th mobile pick-up point, following a successful nationwide roll-out. The service is free of charge for…
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22 July
Saudi wealth fund looks to up Selfridges stake to 50%
Saudi Arabia’s Public Investment Fund has reportedly made an offer to raise its stake in Selfridges from 10% to 50%, according to documents seen by Bloomberg News.The move comes after the department store’s co-owner Signa fell into insolvency earlier this year. The PIF currently owns a 10% share in the…
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18 July
Frasers Group hits top end of FY24 guidance
Frasers Group has reported that its adjusted profits-before-tax rose 13.1% to £544.8m for the year ended 28 April, hitting the top-end of its previous guidance range. This comes despite retail revenues falling by more than £100m to £5.3bn, with overall revenues declining by 0.9% to £5.5bn. However, the group managed…
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18 July
Dunelm FY profits ahead of expectations amid strong Q4
Dunelm has revealed it expects profits for the full year to be ahead of expectations after it saw a strong end to Q4. The homewares retailer has seen its total sales for the year grow 4% to £1.7bn driven by volume despite a “challenging consumer environment”. PBT is now expected…
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16 July
B&M revenues rise 2.4% in Q1 as new stores overperform
Value retailer B&M has reported that group revenues rose 2.4% during the first quarter to 29 June, due to its “disciplined” store opening programme across its three businesses – home, electrical and pet. During the period, B&M made “strong and profitable” progress on its UK store openings, with 19 total…
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8 July
John Lewis to hire more shop floor staff
John Lewis executive director, Peter Ruis, has reportedly made plans to increase the shop floor staff count across the retail estate, The Sunday Times has revealed. It is understood that Ruis is also currently renegotiating contracts with fashion brands, which will see them pay the department store a lower rate…
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4 July
M&S appoints former Aldi MD and Morrisons director to food team
M&S has announced the appointments of Kara Greatorex as its new chief commercial officer and Jon Downes as supply chain and commercial operations director. Greatorex had been at Aldi for 15 years working across a number of roles including buying director and managing director for stores. She joins M&S on…
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3 July
M&S to open flagship stores in Bath and Bristol
Marks and Spencer has revealed plans to open new flagship stores in Bath and Bristol as it looks to cement its offering around the UK. The move will see it return to Bristol city centre with a brand-new 80,000 sq ft flagship full-line store at Cabot Circus. The store is…
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