Department store chain restructures

Beale, the department store operator, has launched a restructuring of the business after the consumer spending squeeze triggered a slide in sales.

The group, which has 32 department stores south of the Border, said it was forced to cut back the number of “mega day” discount events in the 19 weeks to 10 March as trade dwindled.

Bournemouth-based Beale said like-for-like sales including concessions and VAT were down 8.4 per cent but its performance was still in line with expectations. Including 19 stores acquired last May, total sales were ahead 45.9 per cent.