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- 2023 -13 MarchClothing & Shoes
Superdry appoints advisers to help cut costs
Superdry has appointed Interpath Advisory to help it cut costs after a number of profit warnings, according to reports from Sky News. Interpath is expected to focus on Superdry’s cost base and industry experts told Sky that this could cause a number of job losses. The company will also likely…
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6 MarchSupermarkets
Waitrose eyes revamp of its 332 stores
Waitrose reportedly has plans for a major refurbishment programme across its 332 store estate facilitated by a series of cost saving measures, according to The Telegraph. According to the outlet, it is thought the full refurbishment could cost up to £250m and forms part of a turnaround strategy envisioned with…
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Feb- 2023 -23 FebruaryClothing & Shoes
Former Co-op chief emerges as frontrunner to become Matalan CEO
Jo Whitfield, the former Co-op supermarkets chief, has reportedly emerged as a frontrunner to run Liverpool-based fashion retailer brand Matalan, according to Sky News. The outlet reports that following her decision to step down as the Co-op’s food chief last year, Whitfield is now in detailed talks with Matalan’s new…
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21 FebruaryDIY
Wilko unveils new leadership team
Wilko’s new CEO Mark Jackson has announced a new senior leadership team which forms part of its plan to stabilise the business and “accelerate” its turnaround. The group has appointed Dave Murphy, currently group finance director, as its new CFO replacing Karen Mackay, who has resigned from the company and…
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16 FebruaryHigh Street
Wilko to axe over 400 jobs as sales fall
Wilko is reportedly set to axe over 400 jobs across the company as part of plans to cut costs amid struggling sales. According to The Guardian, those affected by the cuts may include assistant store managers, retail supervisors, head office managers and call centre workers. The group reportedly told staff…
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3 FebruaryComment
After a tough golden quarter, can Asos reclaim its crown?
The most recent golden quarter came as something of a pleasant surprise to the market. Across the retail sector, companies rejoiced as sales bounced back in the first Christmas period that was not disrupted by virus variants. Of course, the period was not without its tribulations. Businesses were still hit…
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1 FebruarySupermarkets
Tesco acquires Paperchase IP in pre-pack deal
Tesco has acquired the intellectual property and brand of embattled stationery retailer Paperchase for an undisclosed sum in a pre-pack deal. The brand’s 106 stores are not part of the deal leaving the future of its 820 members of staff in doubt. The news comes less than a year after…
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Jan- 2023 -31 JanuarySupermarkets
Tesco in talks to acquire paperchase out of administration
Tesco is reportedly close to acquiring stationery retailer Paperchase out of administration. According to Sky News, Tesco is in advanced talks to acquire the name and intellectual property of the embattled retailer in a deal that could be agreed as early as Today (31 January). Sky News cited that sources…
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31 JanuaryEconomy
Nearly half of FTSE retailers issued profit warnings in 2022
Profit warnings from UK-listed retailers increased by 48% in 2022 as rising costs prompted record levels of warnings, according to EY-Parthenon’s latest Profit Warnings report. The total profit warnings issued in 2022 increased by 50%, from 203 the previous year to 305 this year. The report discovered that over a…
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20 JanuaryHigh Street
Mamas & Papas appoints new CEO ahead of global expansion
Mamas and Papas, the high street nursery brand, has announced chief operating officer Nathan Williams as its new CEO to lead the company’s next phase of growth, which it said would include expansion into new and existing international markets. Current CEO Mark Saunders, who joined the business three years ago…
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