News this summer that struggling Australian department store chain Myer was looking to sell its designer label Sass & Bide, appears to have been premature with a report on Friday that the firm has called off its plans.
HoF's new owner Sports Direct is continuing to blame “greedy landlords” after it said three of the chain’s 59 department stores will definitely close. They include Hull and Swindon, plus Frasers in Edinburgh.
Price matching at John Lewis eroded its ability to make profits in the first half even though its fashion ops grew and it outperformed the market on that front. It's uncertain about what the second half will bring too.
A merger between Sports Direct's House of Fraser and rival Debenhams, in which the retailer owns almost a 30% stake, has been discussed by the Sports Direct board, but the firm said it has no plans to bid for the chain.
Mike Ashley, the billionaire founder and majority owner of Sports Direct, faces a potential shareholder revolt at the company's annual meeting on Wednesday, though he will not be present to hear any protests.
House of Fraser may be about to take a crucial step forward under its new owners with news that its website could reopen as soon as next week and with new deliveries beginning to appear in its stores.
Germany's two major department store chains Kaufhof and Karstadt have agreed to merge, several sources said on Thursday, in the latest changes to the retail sector brought by fierce competition from ecommerce players.