Sports Direct and Debenhams bosses set for talks Thursday, 23rd January 2014
Top brass from Sports Direct and Debenhams are set to meet on Thursday to discuss the sporting goods retailer’s controversial assault on shares ten days ago. Dave Forsey, chief executive of Sports Direct, and Michael Sharp, chief executive of Debenhams, will meet today in order to discuss the intervention.
Sports Direct withdraws Debenhams stake just days after buying shares Friday, 17th January 2014
Sports Direct has sold its Debenhams stock just days after it purchased 56.8 million shares worth around £46 million. Despite pledging to be a supportive investor for the department store chain, Mike Ashley’s sportswear brand pulled its 4.6 per cent stake and instead entered a so-called ‘put option’ agreement to buy a 6.6 per cent stake.
Sales continue to soar at John Lewis and Waitrose Monday, 13th January 2014
John Lewis Partnership has hailed “a cracking start to the year” as both John Lewis and Waitrose record bumper post-Christmas sales. Total sales across John Lewis department stores rose 23.6 per cent to £113.4 million in the week ending January 4, while the retailer’s total sales, which includes sales online, were up 15.8 per cent year-on-year.
Debenhams CEO under pressure after CFO steps down Friday, 3rd January 2014
Michael Sharp, chief executive of Debenhams, is under intense pressure to revive the department store’s performance after Simon Herrick, finance director, was forced to resign from his post after a profit warning was issued.
Next records 12% sales surge in run-up to Christmas Friday, 3rd January 2014
Britain’s second-largest fashion retailer, Next, has described its festive sales as “significantly ahead of expectations” after recording a 12 per cent sales boost. Sales for the period between November 1 and December 24 jumped 12 per cent year-on-year thanks to demand for seasonal jumpers and nightwear.
Debenhams' CFO steps down after post-Christmas profit warning Thursday, 2nd January 2014
Simon Herrick, the chief financial officer at Debenhams, has stepped down from his role a mere 48 hours after the department store issued a post-Christmas profit warning.
Marks & Spencer angers customers by shutting fitting rooms Monday, 30th December 2013
Marks & Spencer is feeling the wrath of disgruntled shoppers after banning them from trying on clothes during the post-Christmas sales. The department store deployed signs saying: “To stop queues building up that might disrupt your shopping, the changing rooms will be closed over the sales period” resulting in a backlash from customers.
Debenhams appoints first female board-level executive director Thursday, 12th December 2013
Suzanna Harlow was yesterday promoted to Debenhams board of directors, becoming the first female board-level executive director at the department store.
UK retailers ramp up Black Friday deals as customers look to bag a bargain Thursday, 28th November 2013
It seems yet another US retail craze is set to hit British stores as retailers begin to embrace the Black Friday trend taking the states by storm.
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