Selfridges posts record operating profit as investment programme pays off October 1, 2018 A major revamp has helped Selfridges increase sales by 11.5 per cent year-on-year, as operating profits rose to a record £181m for its latest financial year. The department store is now in the final 12 months of its four-year £300m investment programme, transforming its London store and increasing its digital capabilities. Read more: Analysts warn of Debenhams [...]
Debenhams looks to shore up investor panic with unveiling of its ‘store of the future’ September 24, 2018 Debenhams is gearing up for the unveiling of its “store of the future” later today, as the beleaguered retail giant looks to reassure both shoppers and investors after a challenging summer. The department store chain is also expected to reveal more details of its turnaround plans at the event in Watford today, having denied [...]
John Lewis boss ‘to lead review’ into rail industry amid calls for nationalisation September 15, 2018 John Lewis boss Keith Williams is to lead the government's review into the rail industry next week as it battles criticism over its franchise system. The Sun reported that deputy chairman Williams will lead review – to be announced on Thursday – to focus on a balance between the public and private sector at a time when the industry [...]
Why John Lewis’ price promise won’t deliver profits September 14, 2018 Retail bellwether John Lewis reported a 99 per cent drop in profits yesterday in what one analyst labelled a moment as significant as the fall of the Roman empire, as far as the struggling high street is concerned. The middle-class favourite’s profit before one-off items slumped to £1.4m in the six months to 28 July [...]
Mayor power: Devolution is giving Britain a brighter future September 13, 2018 With the distraction of Brexit, one could be forgiven for believing that devolution policy has been dormant since 2016. Indeed, as Westminster negotiates feverishly for optimal European and international status come 30 March, it can seem that domestic policy has been effectively on hold since the referendum. But in that time, a quiet revolution has [...]
Raab: Stop blaming Brexit for poor business performance September 13, 2018 Brexit secretary Dominic Raab today told businesses to stop blaming Brexit for poor performance and “take responsibility”. His comments come in the wake of John Lewis posting a 99 per cent drop in profits in its half-year results this morning, which it partly attributed to Brexit. Read more: Bank of England: Hold fire until there [...]
Brexit secretary Dominic Raab clashes with John Lewis as profits tumble 99 per cent September 13, 2018 Brexit secretary Dominic Raab has clashed with John Lewis after its chairman Charlie Mayfield suggested the store’s 99 per cent plunge in profits was partly due to Brexit. Profits at John Lewis plummeted to just £1.2m in the first half of this year amid what Mayfield called “challenging times” for retail. He also warned that [...]
John Lewis shakes up management team promoting Andrew Murphy to group productivity director September 8, 2015 John Lewis has reshuffled some of its management team after promoting its retail director Andrew Murphy to a new role focused on coming up with new ideas for boosting the performance of the department store chain. The retailer said Murphy’s new position as group productivity director will see him work closely with the board to [...]
John Lewis is opening an in-store beauty spa called &Beauty July 29, 2015 Have we just hit peak middle class? John Lewis has unveiled plans for an in-store beauty spa. After all, what better way to recuperate after a hard day’s shopping? If you get too exhausted from all your purchases, just book yourself in for a relaxing massage… It seems simply going to buy things is no [...]
Oxford Street flagship John Lewis home unit to reopen after £14m makeover July 19, 2015 After eight months of closure and a £14m makeover, John Lewis’ home department at its flagship store is set to reopen to the public. The Oxford Street department store will open the doors to its updated home section in September, having added several new features including a “rug gallery” exclusive to the store. John Lewis [...]
