This week in retail - 17 January 2019

This week in retail - 17 January 2019

It's been a busy week for the world of retail. Christmas results have been flooding in and forecasts are being set for 2019. So, what are the biggest sector news stories this week? We take a look at some of the headlines here.

John Lewis Partnership continued its positive run for the New Year with a 2.5 per cent increase in overall weekly sales, with Waitrose booking 3.7% weekly sales growth and John Lewis weekly sales up 0.7%. Another nod to the trend of customers spending more of food, drink and experiences.

But there was another hit to the high street as giant M&S announced a further round of store closures. In their plans, they revealed a further 17 stores set to close. Read more on BBC News here and on the Guardian website here.

And on a similar trajectory, Debenhams are reportedly planning to shut around 90 stores, potentially putting more than 10,000 jobs at risk, as part of a rescue plan.

So whilst traditional high street stores seems to suffer, some online retailers are finding success. The online retailer Boohoo, who also own prettylittlething and NastyGal, announced success over Christmas as demand for fashion on a budget soars.

Something supported by research by uswitch.com as reported by The Retail Gazette. According to the research, a forecasted £25bn is set to be spent using smartphones in 2019 as the medium overtakes shopping centres. This offers an opportunity for us as at the Post Office, as online returns inevitably grow alongside the e-commerce market. 

And in other news, Next shares jumped as reports of sales rising over the crucial Christmas period hit the press, New Look announced a restructuring plan of its £1.35bn of debt and JD Sports also reported strong sales as the FT reports here.

What are your favourite retail stories from the last week? Let us know in the comments and catch up on more retail news next week.