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. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Analyst Corner—AgeTech: Revolutionizing Aging in the US with Madhav PitaliyaNRF 2023 Insights Sharing WebinarCombating Inflation—Low-Income and Younger Shoppers Trade Down and Buy Less: US Consumer Survey Insights ExtraWeinswig’s Weekly: There Go Amazon’s Private Labels!