Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Marks & Spencer posts another fall in profits Tuesday, 21st May 2013
The department store group on Tuesday reported pre-tax profits fell to £564.3 million in the year to 30 March, down from £658 million the year before. Despite group sales rising 1.3 per cent to £10 billion, Marks & Spencer’s general merchandise lines continued to struggle, falling 4.1 per cent year-on-year and dragging down the performance of the business as a whole.
Crunch time as M&S expected to post lowest annual profit in four years Monday, 20th May 2013
One of Britain’s best-known brands is expected to report its lowest annual profit in four years on Tuesday, as sales continue to drag for Marks & Spencer. The department store is forecast by analysts to report a profit before tax and one-off items of £640 million to £670 million tomorrow, with a consensus of £658 million, according to a company poll.
Marks & Spencer opens new Bahrain store Thursday, 16th May 2013
Marks & Spencer this week celebrated another international store opening at the launch of its new Bahrain City Centre shop. The new 27,630 square feet store features the retailer’s new store format, covering clothing, beauty, footwear, lingerie and food. Speaking at the launch, John Cooper, managing director of Marks & Spencer Al-Futtaim said: “We’re delighted to have opened the 1st new full format store in Bahrain City Centre and believe that Bahrain is a burgeoning market for M&S.
John Lewis fetes arrival of spring as fashion sales surge Friday, 3rd May 2013
Hotter climes have helped fashion sales at John Lewis rise 19.6 per cent on the same week a year before. The department store on Friday reported a stronger week with sales up 5.3 per cent in the seven days to 27 April, as fashion sales managed to offset tougher trading at the retailer’s home and electricals and home technology directorates.
Spring brings mixed fortunes for John Lewis Friday, 26th April 2013
Sales at John Lewis came in flat at -0.1 per cent for the week as customers chose to make the most of the sunshine instead of shopping. The department store’s online director Mark Lewis on Friday reported “a number of factors” had contributed into make the seven days to 20 April a “challenging” week for the retailer compared to the same time a year before, with customers reportedly soaking up the sun in their gardens instead of on the high street.
John Lewis tops £1bn in annual online sales ahead of schedule Monday, 22nd April 2013
John Lewis reports “unprecedented” rise in online growth as it reaches £1 billion in annual online sales a year ahead of schedule. The department store group on Monday said it reached the milestone on a 52-week rolling basis. John Lewis said it expected to reach the £1 billion mark in 2014, as IT director Paul Coby said the retailer was experiencing “an unprecedented pace of online growth”;
"The billion-pound success of johnlewis.com is a reflection of our strategy to put the customer at the heart of our online operations.
John Lewis’ Oxford St flagship sees 18.5% rise in sales Friday, 19th April 2013
Proving the stores still have it, John Lewis’ Oxford Street flagship reported an 18.5 per cent rise in sales in the week to 13 April. While John Lewis’ stellar rate of sales growth slowed slightly to 6.9 per cent including VAT in the seven days to 13 April, it was the group’s bricks-and-mortar stores that led the way for the week, with Oxford Street, Liverpool, Poole and Aberdeen all well into the double digit figures for growth.
Debenhams reveals new expansion plans Friday, 19th April 2013
Debenhams is reported to have identified up to 70 high streets and shopping centres where it hopes to open outlets and expand its UK store portfolio. After reporting back this week on a tough half which saw profits fall 5.4 per cent, Debenhams is now thought to be re-evaluating its presence on the high street, looking to add up to 70 new stores to its current portfolio.
Debenhams H1 sales up 3.5% Thursday, 18th April 2013
Debenhams focuses on second half after 5.4 per cent fall in profits for the first half of its financial year. The department store group, which has 165 locations across the UK and Ireland, on Thursday revealed a fall in first-half profit in line with expectations after the retailer issued a profit warning in March.
JC Penney borrows $850m to fund inventory boost Tuesday, 16th April 2013
J.C. Penney Co Inc has reportedly borrowed USD 850 million from its USD 1.85 billion revolving credit facility to help buy inventory with the hopes of boosting the businesses' struggling turnaround. The Texan retailer, which owns over 1,106 locations, said it will use the proceeds to fund its working capital needs and capital expenditures, including buying inventory to overhaul its home goods department.