Retail news round-up August 30, 2013: John Lewis to launch a new range of upholstery, Signet UK Sales fall in the second quarter, Amazon drops clause banning traders from offering products cheaper elsewhere
John Lewis to launch a new range of upholstery
John Lewis is to target a 15% rise in upholstery sales with the launch of a bespoke range that allows customers to design their own sofas andchairs. The 15% rise in upholstery sales would be worth £10m to the retailer.
The department store chain plans to offer more than 250 frames and 400 fabrics giving the customer the option to choose from 112,203 different combinations of upholstery.
John Lewis will become the first major retailer to allow customers to choose their combination of shape and fabric for their furniture.
Signet UK Sales fall in the second quarter of 2013
Signet Group’s UK sales fell 8.5% to £89.6m in the 13 weeks ending July 28 2013. The US retailer said the revenue fall was primarily driven by a decline in same-store sales as well as the closure of some of its shops.
Same-store sales across its H. Samuel and Ernest Jones fascias decreased 2.4% compared to an increase of 2.1% in the second quarter of 2012. However the number of transactions at Ernest Jones increased in the period, driven by strength in branded bridal and watches.
Amazon drops clause banning traders from offering products cheaper elsewhere
Amazon has agreed to drop a clause which banned third-party traders from selling products for a lower price on other websites, including their own. The Office of Fair Trading has welcomed Amazon’s decision and said it would end its investigation into the practice prematurely. It launched the investigation in October 2012 after complaints from traders using the amazon.co.uk Marketplace platform.