Deep Dive 12 minutes PremiumThe Decline of the UK Department Store – and Struggles in Germany, Too Coresight Research June 21, 2018 Executive SummaryIn the UK, major midmarket department stores are undertaking store closure programs to address underperformance—and Germany’s department-store market leader is seeing sales declines deepen, too. On May 22, Marks & Spencer (M&S) announced plans to accelerate its closure program, which involves shuttering more than 100 of its Clothing and Home stores by 2022. On June 6, privately-owned House of Fraser announced plans for a company voluntary arrangement (CVA) that proposes 31 store closures—more than half of its current 59 stores in the UK and Ireland. On June 19, Debenhams issued its third profit warning of 2018. It, too, is closing stores. On June 5, Hudson’s Bay Company(HBC) reported a 6.6% slump in comparable sales at Germany’s Galeria Kaufhof. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Key Festivals and Holidays for Promotional Campaigns in India in 2025: CalendarFewer Consumers Adjust Shopping Behavior To Cope with Inflation: US Consumer Survey Insights 2023, Week 37Analyst Corner—Is GenAI Changing the World? Part One: An Optimistic Outlook, with Charlie PoonMarch 2023 Leading Indicators of US Retail Sales: Mid-Single-Digit Growth Amid Growing Consumer Sentiment
