Including deadline for Home Retail Group bids, plus John Lewis sales dip.
The Source rounds up some of the key retail stories of the week.
Today (Friday March 18) is the deadline for Sainsbury’s and Steinhoff to make their bids for Argos owner, Home Retail Group. However, a Takeover Panel statement has indicated that if either party does not reveal its intention to make a firm offer, the other would be entitled under City rules to a 53 day period to decide how to proceed.
Asda is to cut more than 280 jobs across its stores following a consultation which it launched in January. The retailer will close staff canteens in all of its stores and also cut some of its shop floor services. The changes will form part of Asda’s 18-month Project Renewal.
Sales at John Lewis took a hit for the week to March 12, falling 4.3%. Total sales stood at £71.5 million, with homewares down 2.4%, electricals and home technology dropping 0.2% and fashion falling 9.6%. Furniture and audio were both in positive growth, however.
The Entertainer is to open its new Bristol store on Saturday April 23. The new outlet – based in The Galleries shopping centre – will feature special character appearances from LEGO Ninjago’s Kai throughout the day, as well as a range of in-store demos and special seasonal promotions. There will also be a trolley dash to support The Grand Appeal. Meanwhile, the toy retailer will also be opening its new Haywards Heath store on Saturday April 2 in The Orchards shopping centre.
