Up-to-date coverage of the latest events in UK retail.
John Lewis fashion sales drive uptick
John Lewis & Partners total sales increased 6.7% for the week to June 8 bolstered by a 14.8% jump in fashion sales.
The department stores electrical & home technology and home sales increased 0.9% and 3.1% respectively.
However, Waitrose & Partners total sales decreased 3% for the week to June 8 due to warmer weather conditions during the same week the previous year.
Ambient and non-ambient food both slipped 3.9% and 0.8% respectively while home & general merchandise decreased 5.6%.
John Lewis Partnership total sales registered a slight improvement of 0.5% to £214.72m for the period.
John Lewis merges home improvement businesses in services drive
John Lewis & Partners is to merge its home improvement businesses Home Solutions and Opun as part of a push to “create a truly differentiated home improvement offer”.
The retailer sees opportunity in a “fragmented sector” for an “end-to-end home improvement service, which includes inspiration, design, project management and execution” as it seeks to “expand beyond shops and online into new and enhanced services”.
Quiz profits wiped out as discounting takes toll
Fashion retailer Quiz has reported a slump in full-year profits but maintained it can “return to sustainable profitable growth.”
Quiz posted a 97% slide in pre-tax profits to £0.2m in the year to March 31, when sales rose 12% to £130.8m.
Ted Baker knocked by ‘extremely difficult trading conditions’
Fashion retailer Ted Baker has suffered in a harsh trading environment and now expects full-year profits to come in at between £50m and £60m.
The retailer posted group sales up 3.8% - or 1.9% in constant currency - for the 19 weeks to June 8. Total retail sales including e-commerce slipped by 0.3%, or 1.8% in constant currency, as tough conditions took a toll.
New boss at Sainsbury’s Bank
Sainsbury’s has named Jim Brown as chief executive of its bank, subject to regulatory approval.
He will start on June 19 work with Peter Griffiths during a short handover period.
Brown worked for RBS from 2015 until 2017 as chief Executive of Williams and Glyn and is a former chief executive of Ulster Bank.
Sainsbury’s chief executive Mike Coupe said: “Jim has a wealth of experience and a strong track record of leading banks through significant change, which will help him lead Sainsbury’s Bank through the next stage of its journey.”
McColl’s appoints chief commercial officer
Convenience retailer McColl’s has appointed Richard Crampton to the newly created position of chief commercial officer. He will join this Autumn.
At present he is managing director of the buying group at the Co-op and before that Richard spent seven years at Sainsbury’s in various commercial roles.
McColl’s chief executive Jonathan Miller said: “I am delighted to welcome Richard to McColl’s. His background with the multiple grocers and his extensive experience in convenience and food retail will be a tremendous benefit to our business as we further strengthen our neighbourhood convenience offer.”