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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Feb- 2024 -26 FebruaryNews
Today’s news in brief-26/2/24
Frasers Group has announced the appointment of four new directors to its board, signalling a significant restructuring move. Among the appointees are David Al-Mudallal, the current chief operating officer, and Ger Wright, the managing director of Sports, who are elevated to executive director roles due to their notable contributions. Additionally,…
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26 FebruaryClothing & Shoes
Frasers appoints four new directors
Frasers Group has announced the appointment of four new directors to its board. David Al-Mudallal, chief operating officer at Frasers and Ger Wright, managing director of Sports, have joined the board as executive directors following their “significant contribution” to Frasers Group in their existing roles. Al-Mudallal joined the group in…
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26 FebruarySupermarkets
John Lewis to axe 200 contractors in an effort to cut costs
The John Lewis Partnership will be making approximately 200 contractors redundant from its customer service provider, Foundever, The Telegraph has reported. Foundever, which has been the retailer’s partner for the past 17 years, has handled the majority of its customer service with a team of 1,000 people. The news comes…
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20 FebruaryClothing & Shoes
Superdry founder in talks with US investor for take private deal
Superdry founder Julian Dunkerton is reportedly in talks with US investor Davidson Kempner as he seeks to put together a deal to take the company private, according to Sky News. The outlet said talks are at a preliminary stage and there is no guarantee that Davidson Kempner will agree to…
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15 FebruaryNews
VF Corporation appoints new board director
VF Corporation has announced the appointment of Caroline Brown to the company’s board of directors, effective from 14 February. Brown is an accomplished executive, director, investor and advisor with more than 30 years of experience at global companies in the apparel and fashion sector. From 2019 to 2023, she was…
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8 FebruaryNews
Today’s news in brief-8/2/24
Farfetch has appointed Akshay Navle as a new director amidst shareholder discontent following the company’s sale to Coupang. Navle, who had previously served as chief product officer at Deliveroo and co-founded Maple, brought valuable experience to the company. Farfetch’s decision to remain silent on shareholder concerns hinted at ongoing turbulence.…
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8 FebruaryHealth & Beauty
Revolution Beauty eyes £1bn sales target amid turnaround strategy
Revolution Beauty has unveiled a new turnaround strategy amid plans to target sales of £1bn by 2030. The group said its ‘Reigniting the Revolution’ strategy will aim to deliver “long-term profitable growth in an attractive global beauty market, where Revolution Beauty has significant headroom to expand”. The plan is based…
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6 FebruaryNews
Today’s news in brief-6/2/24
Revolution Beauty has settled a dispute with its former CEO and co-founder, Adam Minto. Minto will pay the company £2.9m over six years, starting with a payment of £483,333.35 due in March. The settlement follows delays in the company’s financial reporting during Minto’s tenure. Both parties agreed to settle without…
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6 FebruaryLuxury Goods
Naked Wines appoints new CEO
Naked Wines has appointed Rodrigo Maza as its new chief executive officer designate. Maza has been the group’s UK managing director since September 2023, and will now work alongside chairman Rowan Gormley over the next few months to “ensure a successful transition”. After this, he will assume the group CEO…
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2 FebruaryEconomy
Two in five FTSE retailers issued profit warnings last year
The percentage of UK-listed companies issuing profit warnings last year hit 18.2%, exceeding the levels seen at the peak of the financial crisis in 2008, according to new findings from EY. In particular, the rate of profit warnings remained high for FTSE retailers, with two in every five FTSE retailers…
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