In shock news, Tesco said it is to close its Tesco Direct non-food webstore, which sells clothing, homewares, furniture, electricals, toys, health & beauty and more, after conducting a review of the lossmaking business.
It wasn't a great seven days for John Lewis with the week up to and including May 19 seeing its parent company's sales dipping 0.3% to £202.73 million, but the department store chain’s sales falling by as much as 6.3%.
M&S has added experienced non-exec directors to its board as it prepares to deliver its latest results, with more store closures expected and potential demotion from the FTSE100 if its share price falls further.
Intu is investing an additional £13m in Intu Watford to replace existing flooring, ceilings and lighting, and upgrade the car parks. The makeover is expected to be ready in time for the launch of the centre’s extension.
11 designers from regions including Hong Kong, India and the UK have been announced as finalists for this year’s Redress Design Award, which aims to encourage the fashion industry to become more circular.
CVAs are ‘the new black’ in the UK this year but it seems that while House of Fraser is-on trend in this respect, it might struggle to get its CVA through as landlords prove uniquely resistant to its plans.
Luxury concept store The Shop at Bluebird has opened its much-anticipated new flagship location with a debut on London’s Floral Street, just down the road from the street’s most famous tenant, Paul Smith.
The Beales department stores chain is proving that smaller multi-category retailers can still do well, despite the woes being suffered by larger peers, as it talks to Palmers about a takeover of the two-store firm