A brief background Debenhams has 165 shops in the UK and Ireland, and around 26,000 employees. Sir Ian Cheshire became chairman in April 2016, having previously been chief executive of DIY conglomerate Kingfisher and Sergio Bucher, who had been vice president of Amazon's fashion unit across Europe, joined Debenhams as Chief Executive in late 2016. However, … Continue reading Debenhams – The Story So Far
This post has been co-authored by Nelson Blackley (Nottingham Trent University) and Dr Jason Sit (University of Portsmouth) Mike Ashley, the owner of Sports Direct, whose retail empire now also includes Flannels, USC, House of Fraser and Evans Cycles is planning to attend the Housing, Community and Local Government Select Committee evidence session on Monday … Continue reading Can Mike Ashley save the UK High Street? His track record might suggest otherwise.
As retail continues to evolve, one of the trends attracting interest and media coverage is the increasing number of online ‘pureplay’ retailers opening physical stores. Whilst, in many cases, these are developed more as ‘showrooms’ or ‘guideshops’ than full-inventory stores, this move from ‘clicks to bricks’ is something that, even a few years ago, wasn’t … Continue reading Sears Roebuck – ‘Clicks to Bricks’ in 1925.
As has been well documented, UK retail is facing multiple challenges. These include upward cost pressures because of business rates, weak sterling, the living wage, apprenticeship levy and the economic uncertainty of Brexit, together with the burden of excess retail space and large underproductive store estates under which ‘legacy retailers’ now operate. Many retailers are … Continue reading Can UK’s Shopping Centres Survive?
Introduction The Chancellor is expected to include several retail-related topics in his budget statement tomorrow afternoon. Specifically, it is expected he will announce a £1.5bn package to support Britain’s high streets, including proposals to turn over more town centre premises to housing and office space and measures to ease the short-term pain facing the smallest … Continue reading Budget 2018: Likely to be just a sticking plaster for UK retail
If Debenhams, the UK’s largest standalone Department Store chain, and who announced their latest set of annual result earlier today, have a sustainable future they are going to quickly deliver the very challenging balancing act of simultaneously generating cash, reducing debt and addressing all the complex structural challenges they face as a ‘legacy’ retailer. Like … Continue reading Can Debenhams Survive?
Sears Holding Corporation is planning on closing up to 150 of its stores, keeping at least 300 open, with the fate of the remaining 250 uncertain, as part of a restructuring plan under U.S. bankruptcy protection. A bankruptcy filing is expected by Monday 15 October, when a $134 million loan payment is due. Lenders are … Continue reading Sears Today, Gone Tomorrow?