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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Apr- 2022 -20 AprilNews
Missguided CEO steps down as advisory firm brought in
Missguided’s founder, Nitin Passi, is set to step down from his role as chief executive officer (CEO) after the womenswear retailer appointed Teneo, an advisory firm, to explore “strategic options” for its future. However, Passi will remain on Missguided’s holding company board to represent his family’s ongoing stake in the…
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Mar- 2022 -16 MarchClothing & Shoes
Clarks appoints former New Balance lead as CEO
Clarks has appointed Jonathan Ram as its new CEO, with Ram set to join the business next month. He brings with him extensive footwear and apparel leadership experience. He was most recently group president of Global Activewear at HanesBrands, Inc., where he led the growth of the activewear business across…
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Jan- 2022 -20 JanuaryNews
Ted Baker names new chief customer, marketing and digital boss
Ted Baker, the global lifestyle brand, has announced the appointment of Jason Beckley as chief customer, marketing and digital officer. Beckley joins the retailer from Esprit where he was responsible for the brand, marketing and customer teams and leading on consumer engagement across all channels, in his role as interim…
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Dec- 2021 -21 DecemberNews
Missguided secures ‘significant’ investment
Missguided has announced it has secured a “significant” investment deal with London-based investors, Alteri. It revealed Alteri’s investment, comprising both debt and the acquisition of 50% of the group’s equity, will provide the business with the liquidity and support it needs to overcome short-term supply chain challenges, as well as…
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8 DecemberDepartment Stores
JYSK welcomes ‘record’ FY21 profits in UK&I
Danish furniture and home furnishings brand JYSK has announced record results in the UK Ireland during the financial year 2020/2021, with total sales reaching €68.9m (£58.7m), an increase of 67% on previous year. Despite what the company called a “challenging end to 2020 and start to 2021”, 1.1 million customers…
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Nov- 2021 -11 NovemberClothing & Shoes
Ted Baker sees H1 losses narrow to £25.3m
Ted Baker has revealed that its pre-tax losses have narrowed to £25.3m for the 28 weeks ended 14 August 2021 from £86.4m the previous year. The narrowing was boosted by “strong” retail sales with group revenue growing to £199.3m from £169.5m in 2020. Retail sales including e-commerce were up 10.4%…
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3 NovemberNews
Pets at Home CEO to step down
Pets at Home has announced that Peter Pritchard, after eleven years in the business, intends to step down from his role as CEO and director of the company next summer. This follows the “successful turnaround” of the business, in which he developed the group’s pet care plan in support of…
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Oct- 2021 -20 OctoberClothing & Shoes
Burberry appoints new CEO
Burberry has announced the appointment of Jonathan Akeroyd as its newest CEO and executive director, effective 1 April 2022. He will succeed Marco Gobbetti who will step down from the role and leave the company on 31 December 2021. Akeroyd is currently the CEO of Milan-based Gianni Versace SpA, a…
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Sep- 2021 -6 SeptemberHigh Street
New Look appoints new non-executive chairman
New Look has announced that Mike Coupe will succeed Alistair McGeorge as non-executive chairman of the company, effective 29 September 2021. McGeorge stepped down after returning to New Look as executive chairman in November 2017 to “begin the Company’s turnaround strategy”. Coupe previously worked at J Sainsbury plc as CEO,…
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May- 2021 -5 MayAdvice
Why space is so important to D2C retailers
It seems like there’s a gold rush at the moment for warehouse and fulfilment space as online retailers and direct-to-consumer operators wrestle for every last inch of viable commercial space across the UK. Research by Knight Frank backs this up, with 40 million square foot of new commercial space slated…
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