Turnaround
Turnaround in the UK retail sector refers to the strategies and interventions businesses deploy to recover from financial distress, operational challenges, or market disruption. For store owners, retail executives, and supply chain professionals, understanding turnaround efforts is crucial to navigating periods of change and identifying opportunities for growth or collaboration. Retail Sector’s coverage of turnaround includes breaking news on struggling retailers, analysis of restructuring plans, insights into leadership changes, and case studies of successful recovery strategies. We provide retail professionals with the information they need to anticipate market shifts, assess risks, and learn from the operational and strategic decisions driving transformation across physical stores, ecommerce, and omnichannel retail.
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Mar- 2024 -27 MarchHealth & Beauty
Revolution Beauty ups profit guidance amid revival plan
Revolution Beauty has announced that it expects its full-year adjusted EBITDA to hit £12.5m higher than its previous guidance of between £11m-£12m. Alongside this, the company stated it expects revenue growth of approximately 2%, in line with its expectation of low single digit growth. This news comes as the company…
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20 MarchFeatures
Four things we learned from the John Lewis’ latest results
John Lewis held a partnership call with shareholders and members of the press after it revealed it returned to profit for the first time in four years posting a pre-tax profit of £42m before exceptional items for the year ended 27 January 2024. This success came off the back of…
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14 MarchNews
Today’s news in brief-14/3/24
John Lewis announced a pre-tax profit of £42m, a significant turnaround from the previous year’s loss of £78m. Despite this, the company will not pay staff bonuses for the third time in four years, citing a focus on base salary over bonuses. Sales rose by 1%, reaching £12.4bn, with Waitrose…
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13 MarchNews
Today’s news in brief-13/3/24
Morrisons reported a loss of £1.1bn for the year ending October 2023. The increase in debt, mainly due to the takeover by Clayton Dubilier and Rice, has led to rising finance costs, reaching £735 million. Despite a slight drop in revenues to £1.84bn, underlying profits excluding debt interest costs have…
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13 MarchPeople Moves
Matches CEO and CFO depart amid administration
Matches CEO Nick Beighton and CFO Dave Murray have departed the retailer after its collapse into administration last week, Drapers has reported. The news comes as the two senior leaders are thought to have been part of the 273 job cuts announced last Friday (8 March). A day before on…
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12 MarchNews
Today’s news in brief-12/3/24
Superdry is in talks with Hilco Capital for a loan of up to £20m. This loan would support the company’s ongoing turnaround efforts and provide liquidity for its operational needs, including managing seasonal working capital peaks. Additionally, Superdry aims to extend the maturity date of its facilities with Hilco. These…
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8 MarchClothing & Shoes
Foot Locker net losses widen to £300m in Q4
Foot Locker has reported a net loss of $389m (£304.8m) for the fourth quarter ended 3 February 2024, one year into the footwear and clothing retailer’s turnaround strategy. The loss comes after the group reported a net income of $19m (£14m) in the previous year’s Q4, which was caused by…
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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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6 MarchNews
Today’s news in brief-6/3/24
Currys shareholder JO Hambro Capital Management urged the company to hold out for a £1bn offer amid takeover talks. Despite rejecting a bid from Elliot valued at 67p per share, Currys faces pressure to consider higher offers, with JOHCM deeming an offer between 80p and 100p per share as “acceptable”.…
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6 MarchDepartment Stores
John Lewis staff pay to rise 10% amid £116m investment
John Lewis Partnership reportedly has plans to boost staff pay by 10% as part of a £116m investment, according to Retail Week. The Waitrose owner will reportedly confirm the “record” pay increase when it releases its latest full-year results next week on 14 March. From 1 April, the minimum pay…
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