John Lewis posts £120m loss as Labour tax raid pushes up costs Retail The owner of John Lewis fell to a loss of more than £120m in the first half of its trading year as the retail giant hit out at Labour tax raids for “the increased costs of doing business”. The John Lewis Partnership, which also owns Waitrose, posted a pre-tax loss of £124m, 41 per cent [...]
John Lewis’ new boss faces a battle to boost online sales Retail Another cloud appeared in an already gloomy sky for John Lewis on Monday, when its managing director, Peter Ruis, announced his surprise departure. Just days before, an internal interview with the group’s chair, Jason Tarry, was leaked to the press, in which he warned of a “really tough” period for the firm. Ruis’s decision to [...]
John Lewis boss quits after warnings of ‘really tough’ trading Retail The boss of John Lewis’ department stores has quit after less than three years in charge, days after the group’s chair warned of “really tough” trading at the retail giant. Peter Ruis has said he will step down as managing director of John Lewis at the start of September, less than three years after he [...]
Harvey Nichols will collapse without rescue deal, directors warn August 10, 2026 Harvey Nichols will collapse into administration if a rescue buyer is not found, directors of the luxury department store chain have warned. The retail empire will “cease trading” if it fails to agree a sale and no additional funding is found, the group’s directors cautioned in its latest accounts. Harvey Nichols could find a buyer [...]
Next and Frasers go head to head for control of Harvey Nichols July 28, 2026 Retail giants Next and Frasers are set to go head to head for control of ailing department store Harvey Nichols when the Hong Kong-owned firm takes bids from British suitors later on Tuesday. The Knightsbridge-headquartered department store chain was put up for sale last month by its owner, Hong Kong billionaire Sir Dickson Poon, and [...]
Original Factory Shop closes all stores amid collapse April 16, 2026 The Original Factory Shop has closed all 137 stores and its head office, after the retailer collapsed into administration amid growing industry fears over weak consumer confidence and high taxes. The discount department store was put into administration along with Claire’s Accessories earlier this year, as private equity firm Modella Capital said government policy was [...]
Selfridges: Losses slashed despite revenue hit October 1, 2025 Losses at luxury department store chain Selfridges have been slashed during its latest financial year despite its revenue taking a hit. The business, which has UK stores in London, Birmingham and two in Manchester, has posted a pre-tax loss of almost £16m for the 48 weeks to 4 January, 2025. The latest figure comes after Selfridges’ [...]
Green shoots? UK retail sales beat expectations in January February 21, 2025 Brits returned to the shops in January as discount spending fueled the first monthly rise in retail sales volumes since last August. Retail sales volumes rose 1.7 per cent in January, following a fall of 0.6 per cent in December, according to the ONS. Analysts had expected growth of just 0.3 per cent. This was [...]
Harrods: Christmas strikes set for crisis-hit department store December 10, 2024 Harrods, the crisis-hit iconic London department store, is braced for another blow as hundreds of workers voted to strike over the critical Christmas period. Employees represented by the United Voices of the World (UVW) union will walk out from 8pm on Friday, 20 December, to Sunday, 22 December, and again from 12am on Boxing Day [...]
Selfridges’ new chief faces an uphill battle August 13, 2024 Selfridges’ new CEO, André Maeder, has his work cut out for him. The company has managed to survive the gruelling pandemic years – largely by cutting jobs and moving online – a tough cost-of-living crisis and an acquisition in 2022. But seasoned retailer Maeder, who was officially announced two weeks ago and starts in November, [...]