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- 2021 -23 AprilAdvice
Getting ready for the post-covid retail boom
From being in the grip of the second wave in a bleak mid-Winter two months ago with so much uncertainty and anxiety there really has been a remarkable turnaround due to the determination of all to fix this situation. A majority of the population have been vaccinated and sunnier days…
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12 AprilAnalysis
How John Lewis plans to bounce back
In 2007, upmarket retail giant John Lewis revealed plans for an ambitious expansion scheme, which aimed to double the size of its business. At the time, the company only had 26 sites across the UK and the £700m investment was created to increase its high street presence: bringing a further…
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12 AprilDepartment Stores
John Lewis to suspend store closures
John Lewis has confirmed that it has no plans to close any further stores, according to The Times. Executive director Pippa Wicks insisted the chain will not close any more shops and defended its strategy to date, following news that eight John Lewis sites would not reopen post-lockdown. According to…
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Mar- 2021 -29 MarchDIY
Victoria Plum sees 46% increase in sales to £103m
Online bathroom retailer Victoria Plum has announced that its sales rose by a record 46% to £103m for the year ended 28 February 2021. In addition, the Doncaster headquartered business added that its EBITDA increased by 115% to £4.5m. Over the same period, the company grew its headcount from 349…
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18 MarchPeople Moves
Studio names new transformation director amid expansion plans
Online value retailer, Studio.co.uk has strengthened its senior team as it looks to increase its presence with the appointment of James Le Brocq to the role of transformation and operations director. Studio said Le Brocq brings with him a “wealth of business transformation experience” across financial services and retail sectors,…
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16 MarchHigh Street
Thorntons to close all 61 UK sites, 600 jobs at risk
Chocolate maker Thorntons has announced it is to close all 61 of its UK stores, placing over 600 jobs at risk. Announcing the decision on its website, it said the decision comes as it has been “operating for a long time in a tough and challenging retail environment”. It cited…
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11 MarchNews
Levi Strauss & Co board chair to retire
Levi Strauss & Co has announced that Stephen C. Neal, the current board chair, will step down on 26 March, 2021, after reaching the mandatory board retirement age of 72. In his place, the board has unanimously appointed Robert A. Eckert to succeed Neal as board chair, effective 26 March,…
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Feb- 2021 -17 FebruaryClothing & Shoes
Adidas to sell Reebok to focus on core brand
Adidas has confirmed it is to begin a formal sales process for its Reebok brand as it looks to concentrate on further strengthening the leading position of its core brand. It comes as part of the development of its new five-year strategy, where the firm said following an assessment of…
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10 FebruaryComment
Has the pandemic driven a permanent shift in consumer behaviour?
New Era If anyone was in any doubt about the future of retail, the purchase of Debenhams by Boohoo has surely sealed the deal. When an online-only retailer can snap up one of the UK’s high street stalwarts – and refuse to take either the physical stores or the warehouse…
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Dec- 2020 -24 DecemberHigh Street
Ann Summers CVA approved by creditors
Ann Summers has announced that its CVA has been approved by 90% of its creditors, which will see 25 of its stores move to a turnover-based rent system. In a statement, the lingerie store outlined the plans of the agreement with additional funding of up to £10m now being made…
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