Fenwick’s profits fell in the year to January as the UK market proved challenging and turnover was also down slightly. But the firm is staying upbeat as it works on modernising its business and searches for a new CEO.
Harvey Nichols and John Lewis are among the favourite stores for UK consumers but Topshop and Topman, Peacocks and JD Sports come much closer to the bottom of the list in a new poll from Which that looked at 100 chains.
Pure London looked relatively busy last week despite the industry and retail sector facing huge challenges, from the impact of Brexit to business rate rises. Most interesting was the offer from newcomers to the show.
Richard Pennycook, who announced plans to step down as CEO of Co-operative Group last week, is to join department store group Fenwick as its new chairman. He will be the first non-family member to chair the UK business.
Further evidence of the structural shift taking place in UK retail came Thursday as department store Fenwick said it would close its lossmaking Leicester store and that it would make a late-to-the-party e-commerce debut.