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- 2023 -10 JanuaryElectrical
AO raises profit outlook despite 17% drop in Q3 revenues
Electronics retailer AO has raised its profit expectations for FY23 despite seeing a 17.2% decrease in revenues across its UK businesses in Q3. The company now expects its adjusted EBITDA to be between £30m to £40m for the full year. It also stated that its turnaround plan aimed at cutting…
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Dec- 2022 -15 DecemberFeatures
Record-breaking sales of Amazon over the holiday weekend – Will it last until the end of 2022?
During Cyber Monday, and over the days preceding Thanksgiving, people were in a bullish mood with their buying habits on Amazon, which facilitated their appetite. This optimism can be a great opportunity for newbie investors to venture and learn how to buy shares and why Amazon share is a good…
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12 DecemberHigh Street
Monsoon sales rise 43% in FY22
Monsoon saw its sales rise 43% to £258m and a strong gross margin performance of 5.3% that helped double the group’s EBITDA to £24.4m, a rise of 132%, for the financial year ended 31 August 2022. The fashion retailer’s results come as its like-for-like sales grew 105%, thanks in part…
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Nov- 2022 -28 NovemberHealth & Beauty
Revolution beauty announces new CEO
Multi-channel beauty company Revolution beauty has announced Bob Holt OBE as its new CEO. Holt has been interim CEO at the company since 14 October 2022 and has now officially taken the position full time effective immediately. He has more than 30 years of experience in senior leadership positions having…
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7 NovemberClothing & Shoes
Joules explores CVA as trading lags behind expectations
Joules has announced it is exploring a possible CVA after trading continued to soften in recent weeks, as it continues to work alongside Interpath Advisory to explore a number of options to secure the group’s future. As part of its turnaround plan, the group also advanced discussions with a number…
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Oct- 2022 -19 OctoberClothing & Shoes
Asos profits plunge 105% as group outlines turnaround strategy
Asos has seen its profits plummet 105% to a loss of £9.8m in its latest full-year results, down from profits of £190.1m, as customers reigned in their spending amid the cost of living crisis. The group noted consumer behaviour underwent a “marked change” from April 2022 when consumers faced accelerating…
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10 OctoberClothing & Shoes
Joules says CVA is a ‘potential option’ amid turnaround plan
Joules has announced that a Company Voluntary Arrangement (CVA) is one of other “potential options” as the retailer develops its turnaround plan to drive higher profitability. The company said it is making “good progress” in the plan, and that it continues to assess its ongoing financing requirements, including a possible…
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Sep- 2022 -30 SeptemberClothing & Shoes
Joules says turnaround plan is ‘going well’ amid CVA rumours
Lifestyle retailer Joules has confirmed that it has appointed Interpath Advisory to help the company with its turnaround plan. The retailer confirmed the news in a statement released yesterday (29 September) which revealed that the financial advisors are “assisting the board with an initial assessment of certain elements as part…
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14 SeptemberClothing & Shoes
Next pulls out of Joules takeover deal
Fashion retailer Next has reportedly pulled out of its takeover deal with Joules after talks between the two ended, according to The Independent. Joules was said to be in investment talks with the group last month after reports stated it could sell a 25% stake to its larger rival. Following…
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1 SeptemberHigh Street
Footfall recovers in August despite cost of living crisis
Footfall has strengthened across UK retail destinations in August 2022 to -13.2% below 2019 compared with -14.2% in July 2022, after it had weakened from -12.3% in June 2022, according to Springboard’s Footfall Monitor. The “unexpected turnaround” covering the four weeks 31 July to 27 August saw footfall strengthened in…
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