From The Times - September 19, 2007
Gloom deepens in retail sector as Debenhams admits having to slash prices
by Sarah Butler
Debenhams increased the gloom about the prospects for the retail market yesterday when it revealed that it had been forced to discount heavily in the summer to clear stocks.
Shares in the company fell 3.8 per cent to 101½p as the retailer said that gross margins slid 0.9 percentage points in the six months to September 1, worse than expected, after poor summer weather and disappointing ranges forced it to discount heavily to clear stock.
Growing taste for luxury gives Harvey Nichols that expensive look
by Sarah Butler
Harvey Nichols recorded a 47 per cent jump in profits last year as the Knightsbridge department store benefited from strong demand for luxurious fashions and accessories…
Selfridges, Harvey Nichols’s rival, which also filed accounts at Companies House in the past fortnight, announced that it had doubled annual trading profits in the year to February 3.The chain, which has stores in London, Manchester and Birmingham, said that trading profits had risen from £10.1 million to £26.8 million as sales increased 13 per cent to £356 million.
One day, one journalist, three stories – two spectacular contrasts in performance.
Who has high Competitive Strength? Who is Constrained? How do these contenders compare with John Lewis (see other story)
The Retail sector is volatile and changes very rapidly. Competitive Strength can be seen in those that consistently stay in the lead, have freedom to invest, maintain growth.
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