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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Jan- 2024 -31 JanuaryHealth & Beauty
The Body Shop to offload part of international businesses
The Body Shop is set to sell parts of its business in Europe and Asia under its new owners Aurelius, according to reports from Retail Week. The beauty retailer has signed an agreement with “an international family office to sell its business in most of mainland Europe and in parts…
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31 JanuaryDepartment Stores
John Lewis ‘will return to profit this year’, White insists
John Lewis Partnership chair, Dame Sharon White, has said the business will return to profit this year, The Telegraph has reported, following reports that up to 11,000 jobs could be cut under the retailer’s turnaround plan. White reportedly told workers that the retail business would “more than break-even” after suffering…
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29 JanuaryNews
Today’s news in brief-29/1/24
The UK experienced a significant increase in business administrations, with the retail sector being the hardest hit, accounting for 19% of the total administrations. This information comes from a study conducted by full-service law firm Shakespeare Martineau. The year saw a total of 1,641 businesses filing for administration, a 22%…
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29 JanuaryDepartment Stores
John Lewis Partnership mulls 11,000 job cuts
John Lewis Partnership is reportedly considering cutting up to 11,000 roles over the next five years as part of a turnaround plan for the group. According to The Guardian, news of the potential cuts comes after the group slashed redundancy terms this week. Sources told the paper that at least…
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26 JanuaryNews
Today’s news in brief-26/1/24
Superdry reported a challenging trading environment with half-year revenues down 23.5% to £219.8m. The wholesale division faced a significant decline of 41.1%, while the retail segment, though more resilient, was down 13.1%. Store revenue in the UK and Republic of Ireland saw a 10.2% decline due to unseasonal weather impacting…
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26 JanuaryDepartment Stores
John Lewis could cut jobs amid halved redundancy payouts
John Lewis Partnership has implied that it could make job cuts across the business after it slashed its redundancy payouts, The Telegraph has reported. It is understood that the employee-owned retailer told partners this week it was halving its current two-week redundancy pay per year of service policy as it…
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26 JanuaryClothing & Shoes
Superdry reports ‘challenging’ trading amid new CFO announcement
Superdry has revealed its half-year revenues are down 23.5% to £219.8m due to a “challenging” consumer retail market as it also announces the appointment of a new CFO. The wholesale division is down 41.1%, meanwhile the retail segment proved “more robust” in the first half but has also underperformed expectations…
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23 JanuaryAdvice
Sustainable packaging and e-commerce: what more can be done?
The Thanksgiving weekend of 2023, including Cyber Monday, saw $38 billion in online sales in the US, while e-commerce in the UK is forecast to exceed 38% of all retail sales by 2025. That’s an awful lot of packages being delivered to homes. Brands that sell a lot (or all)…
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22 JanuaryNews
Today’s news in brief- 22/1/24
John Lewis, as part of its turnaround strategy, has reportedly alerted employees to the possibility of smaller pay rises. The retailer is considering changes in salary policies, aiming for more flexibility and sustainability. Dame Sharon White’s management team would gain control over performance-linked pay rises, potentially leading to fewer staff…
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22 JanuaryHigh Street
John Lewis warns staff could face smaller pay rises
John Lewis has reportedly warned staff that they may face smaller pay rises under new salary policies as it continues its turnaround strategy, according to The Telegraph. The outlet reported that the John Lewis Partnership is consulting on the changes that it believes would allow for more “flexibility” and allow…
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