Metropol

Looks like department store problems aren't limited to the UK. US giant Sears has collapsed.
https://www.bbc.co.uk/news/business-46797097

Christmas results coming in now.

Good for:
DFS: +10%
TESCO: + 2.1%
John Lewis + 1.4% (Although profits will fall and staff bonus in doubt).

Not so good for:
M&S: Down 2.4% on clothing and home -2.1% on food.
Debenhams: -3.4% and is "in talks with its lenders" (sounds like the end of the road in my opinion).
Halfords: -1.7% due to mild weather.


More to follow.

Card Factory -0.1% LFL last year.

I note with some wry amusement that the Q3 trading statement from M&S partly blames the weather for the falling sales ("an unseasonal October") for the eighth consecutive year.

Edit: Actually, I'm mistaken. They didn't blame the weather in last year's Q3 statement, they waited until the full year results to wheel out that excuse for Q3.

M&S have announced a further 16 store closures today, including the M&S in Felixstowe:

https://www.ipswichstar.co.uk/news/busi ... pCtmRu0CEo

The 17 M&S stores are:

Ashford, Barrow, Bedford, Boston, Buxton, Cwmbran, Deal, Felixstowe, Huddersfield, Hull, Junction One Antrim Outlet, Luton Arndale, Newark, Northwich, Rotherham, Sutton Coldfield and Weston-super-Mare.

potentially good news for HMV:

https://www.retailgazette.co.uk/blog/20 ... proposals/

Mike Ashley in talks to acquire HMV. It may be merged with GAME if he gets control.

https://news.sky.com/story/ashley-aims- ... v-11612905

Patisserie Valerie could collapse this week if last-ditch talks fail

Chairman Luke Johnson is trying to extend standstill agreement on bank facilities
https://www.theguardian.com/business/20 ... fail-banks

Going back to HMV, if Ashley gets the business, I won't be surprised if he moves some of those small HMV stores that are in the same town as a House of Fraser or even a large Sports Direct into those stores. It's about utilising the space under utilised in those HOF department stores.

It can be done as HMV had a small concession in Selfridges.

Martin Phillp wrote: Sun 20 Jan, 2019 22.46 Going back to HMV, if Ashley gets the business, I won't be surprised if he moves some of those small HMV stores that are in the same town as a House of Fraser or even a large Sports Direct into those stores. It's about utilising the space under utilised in those HOF department stores.

It can be done as HMV had a small concession in Selfridges.

I thought that could happen. In Ipswich, HMV took over the old John Menzies shop in Tavern Street, then last year, they moved into a small unit in the Sailmakers Shopping Centre (previously Tower Ramparts). There is a large Sports Direct in Carr Street so I can see if he does take on the business, that could happen in Ipswich.

Martin Phillp wrote: Sun 20 Jan, 2019 22.46 Going back to HMV, if Ashley gets the business, I won't be surprised if he moves some of those small HMV stores that are in the same town as a House of Fraser or even a large Sports Direct into those stores. It's about utilising the space under utilised in those HOF department stores.

It can be done as HMV had a small concession in Selfridges.

Probably worth noting that Ashley also owns a stake in Debenhams, and it's quite possible he'll end up buying them out to save that department store. If that happens I could easily see a HMV within part of Debenhams, I'm not as sure if it would work as well in HOF. That said HMV also owns the Fopp brand, so it's theoretically possible House of Fraser could have a Fopp concession, whilst Debenhams have HMV concessions, or vice-versa.

Going off-topic the Debenhams in Bedford has plenty of excess space that could be given over to HMV, though with a broken lift (note accessible toilet is on floor 3), broken wheelchair lift for a raise part of one floor (where ironically an accessible changing room is located) I'm sensing the store is pencilled for closure. With the M&S store in Bedford down for closure it looks like there's going to be a lot of empty retail space in Bedford, and only Beales left for department stores.