British department store chain with a history of administration and brand revival by Boohoo
M&S has opened Pantheon, a four-floor flagship on Oxford Street spanning almost 100,000 sq ft, with a food, fashion, home and beauty blueprint for future stores. The project features made-to-order tailoring, a dedicated beauty hall, and a revamped homeware section, as the retailer presses ahead with broader London refurbishments amid regulatory battles and urban redevelopment.
Princes Street remains partially closed as emergency works on the former Debenhams site continue. Transport networks are disrupted with buses diverted to George Street and trams operating only on part routes. Council says safety work will take weeks while festival organisers plan for the busy period.
A round-up of fresh company updates shows mixed earnings across retailers and tech-adjacent firms. Pennon sees improving profit as storms and tariffs weigh on penalties; Mitie reports rising revenue and progress on strategy ahead of leadership change; S4 Capital trims job cuts while pursuing AI-driven growth; Debenhams, Macy’s, Ulta and Asda publish updates amid a churning retail landscape.
Sephora has announced Edinburgh and Glasgow store openings, marking its first Scotland presence. The Edinburgh location opens July 9 and Glasgow on August 13, with personalized beauty services and exclusive brands on offer. The launch is framed as a milestone for Sephora UK’s expansion and Scotland’s retail scene.
Frasers Group has announced a cash offer of €38 per share to acquire the remaining shares of Hugo Boss, valuing the German luxury brand at about €1.98bn. The bid aims to take full control of Hugo Boss as Frasers continues its strategy of expanding upmarket brands. Hugo Boss will examine the proposal and may put it to a vote subject to regulatory clearances.
The Scotsman reports Fort Kinnaird plans a 42,500 sq ft expansion, creating over 60 local jobs, including a new 19,750 sq ft food store and 22,785 sq ft leisure space, with consent expected in November and construction due 2027. The Guardian covers John Lewis’s £20m Glasgow store revamp as part of a £50m programme across several cities, aiming to modernise the Buchanan Galleries and boost footfall while keeping shops open. France 24 details Shein’s exit from BHV Marais as SGM sells the landmark store to executives, marking strategic shifts in Parisian retail amid regulatory fines over the brand.
Scotland's government has launched a public consultation on a mansion tax targeting homes valued above £1 million, proposing two new bands and forecasted £12–16 million in annual revenue to be shared among councils. The move, part of ongoing tax reform, faces opposition from some opposition figures over housing market impacts and administrative costs.
A major fire has broken out near Edinburgh’s Princes Street, affecting the old Debenhams building and surrounding blocks. Fire crews are damping hotspots, with road closures in place and tram and bus services disrupted. No injuries have been reported. Updates are ongoing.