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 -2 JanuaryNews
Today’s news in brief-2/1/24
Central Group is reportedly considering increasing its stake in luxury department store Selfridges as co-owner Sigma faces financial issues. Central recently became the largest shareholder, converting a £317m loan into equity. Sigma’s Prime Selection unit filed for insolvency, possibly leading to liquidation of assets worth over €19bn, impacting its stake…
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2 JanuaryNews
John Lewis to prioritise retail in new turnaround plan
John Lewis Partnership is going to update its turnaround strategy after chief executive Nish Kankiwala has told its staff that the business will focus on retail. Kankiwala, who joined the business in March, said that the Partnership has to operate under a “one retail mindset” for Waitrose, John Lewis, as…
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Dec- 2023 -19 DecemberClothing & Shoes
Superdry issues FY24 profit warning amid mild weather
Superdry has warned on profits for the 26-week period ended 28 October, attributing a 13% year-on-year drop in sales to “abnormally mild” weather. While the retailer expected wholesale to be down 41.1% year-on-year due to its decision to exit its US wholesale operation, it was also driven by “timing differences…
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19 DecemberHealth & Beauty
Revolution Beauty appoints North American chief
Revolution Beauty has announced the appointment of Erin Cast as president of North America. Based in New York, she will build upon the group’s foundations in the US and Canadian markets. Cast brings over 25 years of experience across sales, marketing, general management and board roles in beauty, food &…
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6 DecemberNews
Today’s news in brief-6/12/23
Farfetch is reportedly contemplating the sale of fashion retailer Browns as part of efforts to secure the company’s future amid a funding crisis. Founder José Neves is in talks with shareholders and JP Morgan about potentially delisting the business. The company is also in discussions with Richemont for additional funding.…
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6 DecemberClothing & Shoes
Matches seeks cash to fund turnaround plan
Matches Fashion has reportedly hired an advisory firm as it seeks a cash injection to help fund its turnaround strategy, according to Drapers. The outlet reported that Matches has hired Teneo to explore funding options as it seeks around £50m with it citing a source that “all options are on…
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Nov- 2023 -27 NovemberClothing & Shoes
Asos ditches diversity goals in bonus scheme
Asos leadership team will reportedly no longer need to hit diversity targets as part of the criteria to achieve annual bonuses, according to The Telegraph. The outlet revealed that Asos has decided to prioritise financial targets as the embattled online retailer focuses on improving its share price and profit margins. …
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21 NovemberNews
Today’s news in brief-21/11/23
AO World has reported a significant turnaround in its financials for the six months ending September 30. The company posted a profit before tax of £13m, marking a notable improvement from the previous year’s loss of £12m. AO World has adjusted its profit guidance for the fiscal year, now anticipating…
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7 NovemberOnline & Digital
Naked Wines slashes full-year guidance as CEO exits
Naked Wines has lowered its full-year guidance amid a period of difficult trading, alongside news that CEO Nick Devlin is stepping down from his role with immediate effect. With recent trading in the US being lower than expected, the group now expects full-year revenues to fall by 12% to 16%,…
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3 NovemberNews
PrettyLittleThing founder posts interest in Topshop deal
PrettyLittleThing founder Umar Kamani has expressed his interest in buying TopShop from Asos. Commenting on X (FKA Twitter) on a report regarding the possible sale from Asos, Kamani wrote: “I would buy this and bring it back like the good old days.. rockin and rollin.” Kamani is a member of…
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