As part of its landmark 200th birthday celebrations Debenhams has unveiled a total revamp of its Oxford Street-based flagship store.
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 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.
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.
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.
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.
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