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New chief executive Sergio Bucher insisted the department store must become a destination for “social shopping” to tap into the rise in leisure spendi

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New chief executive Sergio Bucher insisted the department store must become a destination for “social shopping” to tap into the rise in leisure spending by consumers who “increasingly live their lives through their mobile phones”. 

He signalled the closure of 11 warehouses and said up to 10 UK stores could close over the next five years. 

Some brands could disappear and the group could exit some international markets. Stores will be...

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