Restructuring
Restructuring in the UK retail sector involves the strategic changes retailers make to strengthen their financial position, streamline operations, and adapt to evolving market conditions. Retail Sector provides comprehensive coverage of restructuring activity, including breaking news on administrations, CVAs, and refinancing deals, alongside expert analysis of the operational and strategic implications. Our reporting helps retail executives, store owners, ecommerce leaders, and supply chain professionals understand how these developments impact the wider retail landscape, offering insights into recovery plans, leadership decisions, and business transformation across physical and digital channels.
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Apr- 2024 -8 AprilClothing & Shoes
Levi’s posts $11m loss despite increase in DTC revenue
Denim brand Levi Strauss and Co has reported a net loss of $11m (£8.71m) in Q1 2024 compared with net income of $115m (£91.09m) in the prior year. The group’s net revenue also decreased 8% to $1.6bn (£1.27bn) in Q1 2024 primarily due to the shift in wholesale shipments from…
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4 AprilNews
Today’s news in brief-4/4/24
In March, UK retail footfall experienced a modest increase of +1.7% compared to February, signalling a stabilising trend according to MRI data. Retail parks led the rise with a +4.3% increase. Despite mid-month declines, the week leading to Easter saw footfall rise by +10.3%. Although impacted by weather and holiday…
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2 AprilNews
Today’s news in brief-2/4/24
Superdry CEO Julian Dunkerton’s plans for a takeover have fallen through, leading to an extension of a £20m funding facility with Hilco. Dunkerton, while remaining committed to the business, does not intend to make an offer, according to a statement on the London Stock Exchange. Talks of a possible equity…
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Mar- 2024 -26 MarchNews
Today’s news in brief-26/3/24
Asos reported an 18% decline in sales during the first half of fiscal year 2024, yet maintained its profit guidance. Despite the sales dip, Asos showcased strong free cash flow performance, reaching £20m, its best since FY17. CEO José Antonio Ramos Calamonte highlighted the company’s progress in implementing its ‘Drive…
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22 MarchSport & Leisure
Nike revenues hit $12.4bn in Q3
Nike Inc. has revealed that its third quarter revenues slightly increased on both a reported and currency-neutral basis to $12.4bn (£9.85bn). It comes as it reported revenues for the Nike Brand of $11.9bn, up 2% on a reported and currency-neutral basis, as currency-neutral growth in North America, Greater China and…
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14 MarchEconomy
Retail sees 14 closures a day as 5,000 stores vanish in 2023
High-profile retail restructuring and administrations have resulted in a net of 14 store closures a day during 2023, according to research from LDC and PwC, meaning that 5,000 fewer shops are currently trading across the country. The research has attributed the high volume of closures to the collapses of high…
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8 MarchNews
Today’s news in brief-8/3/24
Superdry has partnered with restructuring firm Teneo to explore cost-saving measures amid financial struggles. With a reported revenue decline of 23.5% in the first half of the year to £219.8m, Superdry is considering options such as a company voluntary arrangement (CVA) or restructuring plan to navigate the challenging retail market.…
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8 MarchClothing & Shoes
Superdry appoints restructuring firm to explore cost-saving options
Superdry has drafted in advisers from restructuring firm Teneo in a bid to explore cost-saving options, Drapers has reported. The retailer has reportedly been working with the firm on a turnaround plan over the past few weeks. Drapers said Superdry was considering various cost-saving measures, including a potential company voluntary arrangement…
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5 MarchFeatures
What are the effects of VAT taxes on the tourism industry?
The term “tourism tax” has recently been used to refer to taxes imposed on goods and services supplied to international tourists. Up until 31 December 2020, VAT-free shopping enabled international visitors in the UK to get a VAT refund on goods purchased in the UK, making them 20% cheaper. Recently,…
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1 MarchNews
Today’s news in brief-1/3/24
The forthcoming £90m Oxford Street Programme is poised to generate up to £2.8bn in additional sales for London’s West End between 2027 and 2033, as indicated by the New West End Company. This initiative, supported by both public and private investments, aims to revamp Oxford Street’s public spaces, infrastructure, and…
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