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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Nov- 2023 -1 NovemberNews
Matches reports £33m loss in FY22
Matches, the modern luxury shopping destination, has posted an adjusted EBITDA loss of £33.7m for FY22. For the year ended 31 January, revenues slightly slipped to £380.1m, compared to £386.6m in FY21. However, order demand came at £758.2m, up 12% to £677.1m reported the previous year. Matches has also updated…
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Oct- 2023 -30 OctoberNews
Asos considers sale of Topshop brand
British online fashion retailer Asos is considering the sale of Topshop after buying the brand less than three years ago, Sky News has reported. The online giant is understood to be at the early stages of a process which could see it offload what was once one of the most…
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27 OctoberNews
Today’s news in brief-27/10/23
Tesco has appointed Matthew Barnes as the new UK CEO, effective March 2024, succeeding Jason Tarry, who will step down after 33 years with the company. Barnes, with extensive experience at Aldi, previously served as UK&I CEO and co-head of Aldi Sud’s executive board. Under Tarry’s leadership, Tesco underwent a…
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27 OctoberSupermarkets
Tesco names Matthew Barnes as new UK CEO
Tesco has announced the appointment of Matthew Barnes as its new UK CEO effective from March 2024, following news that current CEO Jason Tarry will be stepping down after 33 years at the retailer. Barnes is a highly accomplished retailer, having worked in many senior positions in Aldi. He was…
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9 OctoberFeatures
Examining Dame Sharon White’s term as John Lewis chair
Current chair of the John Lewis Partnership Dame Sharon White has announced that she will be stepping down at the end of her term in February 2025, bringing to an end an eventful six-year term. While the six-year stint will make her the shortest serving chair in its history,in her…
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6 OctoberFeatures
How Poundland repurposed 10 Wilko stores in two weeks
The biggest story in retail over the last few weeks has undoubtedly been the struggles and eventual collapse of Wilko. The company fell into administration in August and just a month later it was announced that all of its stores would be closing. As a result, two of its rivals…
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Sep- 2023 -29 SeptemberSupermarkets
John Lewis considers offloading 12 Waitrose stores for £150m
John Lewis Partnership Plc is reportedly planning to sell 12 Waitrose supermarkets for as much as £150m in a bid to raise more capital, according to Bloomberg. Some people familiar with the matter told Bloomberg that CBRE has been appointed as agent for the partnership and the marketing of the…
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21 SeptemberNews
Today’s news in brief-21/09/23
Wilko’s administrators PwC are reportedly set to begin a review of dividend payouts totalling £77m to investors over the past decade. The review will focus on payouts to the Wilkinson family and other investors leading up to the retailer’s decline. Notably, despite posting losses of £39m, Wilko paid out a…
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21 SeptemberSupermarkets
Tesco’s chief customer officer to step down
Tesco has announced that its chief customer officer, Alessandra Bellini, is set to step down from her role at the end of September. Following her departure, Ashwin Prasad will lead Tesco’s customer and product teams as chief commercial officer. Bellini, who joined in March 2017, will leave Tesco after nearly…
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19 SeptemberNews
Today’s news in brief-19/09/23
Kingfisher, the parent company of B&Q, has revised down its full-year profit forecast to £590m from the initial estimate of £634m. This adjustment is in response to challenging trading conditions. In H1, the company reported a 30.9% decrease in operating profit compared to the same period last year, with group…
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