Profit Warning
Profit warnings are key indicators of financial and operational challenges within the UK retail sector, often signalling shifts in market conditions or internal business pressures. For retail executives, store owners, and supply chain leaders, tracking profit warnings is essential to understanding emerging risks, competitor performance, and potential impacts on partnerships and supply chains. Retail Sector’s coverage of profit warnings includes timely reporting on announcements from major retailers, analysis of the factors driving underperformance, and insights into how businesses are responding. We provide in-depth context to help professionals across physical retail, ecommerce, and omnichannel operations make informed strategic decisions in a rapidly changing market.
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Apr- 2018 -12 AprilDIY
Carpetright to close nearly a quarter of stores, affecting 300 jobs
Carpetright is preparing to close nearly a quarter of its 300 stores in a restructuring plan as it struggles to avoid administration. Today (12 April) the company released a statement saying it had entered a Company Voluntary Agreement (CVA), which if approved, would lead to the closure of 92 outlets…
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9 AprilHigh Street
Bestway acquires Conviviality retail brands
Bestway Wholesale has completed the purchase of Conviviality’s retail brands, in a deal closed at 11.56pm on Friday (6 April). In the £7m deal, the wholesaler acquired the Bargain Booze, Wine Rack, Select Convenience and WS Retail chains, saving 2,000 jobs. Matthew Callaghan, partner at PwC, said: “This deal safeguards…
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6 AprilHigh Street
Bestways poised to purchase retail arm of Conviviality
Cash and carry wholesaler Bestway is set to announce its plan to purchase Conviviality’s retail chains, which includes Bargain Booze. According to reports Bestway, run by Zameer Choudrey, is thought to have paid roughly £7.5m for the Conviviality businesses. The deal will secure roughly 2,000 jobs and will bring the…
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5 AprilHigh Street
Conviviality goes into administration
Drinks retailer and wholesaler Conviviality has filed for administration just a day after selling its wholesale business. Administrators PwC released a statement which read: “Matthew Callaghan, Ian Green and David Baxendale of PwC have today been appointed as joint administrators to Conviviality Plc. “Conviviality Plc continues to engage with parties…
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5 AprilHigh Street
Magners cider owner buys Conviviality wholesale division
The owner of Magners cider, C&C, has completed a deal to acquire Conviviality’s wholesale distributors. The beverage supplier and retailer has sold its Bibendum and Matthew Clark brands, with the support of brewer AB InBev. C&C was in early morning talks with Conviviality on 4 April, and by the end…
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3 AprilHigh Street
Conviviality may face legal action from investors
Investors in Conviviality are considering the possibility of legal action against the board of the company amid claims they were misled over its financial health. According to The Times, the rapid demise of the drinks retailer has provoked suspicions about when the board first had concerns over its trading and…
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Mar- 2018 -22 MarchHigh Street
Conviviality launches £125m fundraising bid to avert bankruptcy
Conviviality has announced it urgently needs to raise £125m to avert bankruptcy as it issued its third profit warning in a single month. In a statement the off-licence retail group confirmed that through its broker, Investec Bank, meetings with institutional investors have been arranged for the coming days to effect…
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21 MarchHigh Street
Moss Bros shares plummet amid profit warning
Moss Bros has seen its shares plummet as much as 30% as it warned its full year profits would come in below expectations – the second such warning this year. At the time of writing the company has seen its shares recover slightly at a 22% decrease. The suit retailer…
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7 MarchDepartment Stores
Debenhams to rent flagship store space to hot-deskers
Debenhams is reportedly looking for a way to make use of its flagship store’s excess space by renting it to a working space company. The retailer is said to be in the early stage talks with hot-desking firm WeWork. The news comes after Debenhams chief executive Sergio Bucher announced plans…
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1 MarchHigh Street
Carpetright shares dive following profit warning
Shares in Carpetright have dropped by more than a quarter following a refreshing profit warning. The group announced that trading conditions in the weeks since 19 January have ‘remained difficult’. Shares fell by 24% in early trading, having fallen by over 60% over the past 12 months. Like-for-like sales have…
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