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Online-only retailers’ sales have grown 24 times faster than those of bricks and mortar firms in the last five years, according to new data which underlines the current woes facing high street shops. A report out today from data specialist GBG Loqate shows that pure-play online retailers have grown their sales by 281 per [...]
Embattled department store chain Debenhams was hoping to ease investor cynicism after launching its new turnaround strategy yesterday, but it seems City analysts are yet to be impressed. Liberum said this morning that “a good store tour doesn’t change our view that this is a value trap”, reiterating its “sell” rating after the retailer [...]
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 [...]
Fashion retailer Cath Kidston is reviewing the locations of its UK stores as it looks to move to destinations that attract higher footfall. The brand, which has 65 stores across the UK including pop-ups and concessions, is reviewing individual branches as leases come up for renewal at which point it will consider whether to relocate the store to a [...]
Sports Direct have this evening denied reports its boss Mike Ashley is attempting to block a sale of Debenhams' Danish business Magasin du Nord. Reports suggested Ashley had threatened to halt the £200m of the business by Debenhams, in which he already has a 30 per cent stake, in the hopes of forcing the business into [...]
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 [...]
Shares in Debenhams fell by five per cent this morning, wiping out most of the gains made yesterday amid speculation that Sports Direct could merge the struggling retailer with House of Fraser. Read more: Sports Direct board 'mulled Debenhams and House of Fraser merger' The comments were made by an outgoing board member at the [...]
Emptying his pockets of wads of £50 notes at a security check, telling a select committee about vomiting in a fireplace at board meetings – Sports Direct boss Mike Ashley is clearly not afraid of theatre. Against type, he has now chosen to play the part of white knight of the high street, but yesterday’s [...]
Struggling department store Debenhams has had a better-than-expected quarter, but with the share price up just a notch it seems investors are still unsure. The figures Debenhams' like-for-likes were flat for the 15 weeks to 13th June, and up 0.9 per cent for the 41 weeks – ahead of analyst expectations of a decline [...]
Sports Direct's put options are starting to expire. The question on everyone's lips is, did Mike Ashley's bet pay off? The retailer, which first took a punt on the struggling department store in 2014, has gradually increased its stake in Debenhams to 16.6 per cent back via a series of put options. A put gives [...]
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