Including Argos outperforming Sainsbury’s in the first nine weeks of the year.
The Source rounds up some of the key retail stories of the week.
Argos outperformed Sainsbury’s in the nine weeks to March 11, new results revealed earlier this week. Argos reported a like for like rise of 4.3%, with good contributions from technology including mobile phones, video games, wearable teach and sports equipment. Meanwhile, Sainsbury’s like for likes dipped 0.5%. However, sales at fashion brand Tu increased 5%. Sales of general merchandise were held back by the later timing of both Mother’s Day and Easter.
House of Fraser is to cut the number of brands it sells, according to The Times. The report says the department store chain will cull up to 40 of the 677 third-party brands it sells, as well as cutting the number of own-labels it produces from nine to five. There are also plans to relaunch the retailer’s website, refocusing its business to target older women under the new turnaround plans by its Chinese owners.
Sports Direct has raised its interest in department store Debenhams to over 11%. According to The Times, Sports Direct has increased its position in Debenhams through a ‘contracts for differences’ arrangement.
Ted Baker has unveiled interactive store windows as part of its shoppable film campaign for spring/summer.
John Lewis is to launch an own-brand denim collection – And/Or. The 90-piece range will target the younger consumer.
Meanwhile, John Lewis saw its sales increase 7% to £76.5 million thanks to warmer weather and preparations for Mother’s Day in the week to March 14. Fashion sales increased 11.1% during the period, while beauty, wellbeing and leisure products grew 18.1% and electrical, home and technology increased 7.5%.
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