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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May- 2020 -12 MayDIY
Kingfisher sales drop 25% in Q1 results
B&Q and Screwfix owner B&Q has revealed its first quarter sales fell by 24.8% to £2.2bn as the impact of the coronavirus hit its core markets of UK, Ireland and France. Kingfisher said it saw UK and Ireland sales fall 14.7% to £1.09bn, with B&Q sales plummeting 22.1% to £663m.…
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Apr- 2020 -21 AprilComment
How brands can use feedback to excel CX in the post-coronavirus world
The coronavirus lockdown is likely to change consumers’ relationships with brands in all kinds of ways. With a third of the world’s population under some form of restriction because of the pandemic, millions of consumers have hours to spend online, reassessing the familiar and exploring the new. At a time…
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9 AprilSupermarkets
Tesco defends £635m dividend payout
‘Big Four’ grocer Tesco has defended its £635m dividend payout to shareholders, despite it receiving a £585m tax break. Last night (8 April), the company’s board approved a final dividend of 6.50p, bringing the full-year dividend to 9.15p. According to the Guardian, Tesco chairman John Allan said paying its shareholders…
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Mar- 2020 -30 MarchPeople Moves
Ted Baker appoints Rachel Osbourne as new CEO amid Covid-19 crisis
Lifestyle brand Ted Baker has today announced the appointment of Rachel Osbourne as its new CEO amid the Covid-19 crisis. Osbourne , whose appointment will be effective immediately, has more than 20 years’ of relevant brand and retail sector experience. She joined Ted Baker as chief financial officer in November…
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25 MarchHigh Street
New Look asks landlords for three-month rent holiday
High street fashion retailer New Look has asked its landlords for a three month rent holiday as it looks to reduce costs during the coronavirus outbreak. In a trading update, the retailer revealed a series of measures focused on preserving cash, maximising liquidity, managing working capital. The measures include: Significantly…
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Feb- 2020 -27 FebruaryDIY
Homebase turnaround bears fruit as it returns to profit
DIY retailer Homebase said it has “returned to profit ahead of plan” in its latest trading update, recording profits of £3.2m in 2019, compared with a loss of £114.5m in 2018. As a result, Homebase said the proposed completion of its CVA is likely to conclude 18-months ahead of schedule,…
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25 FebruaryComment
The changing face of retail in the age of digitisation
Retail: the 2020 snapshot It’s no secret that high street retail in Britain has been struggling for the past decade. Since the collapse of Woolworths in 2009, it has been clear that something, somewhere, has been going very wrong on the Great British high street. In fact, currently it is…
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Jan- 2020 -31 JanuaryClothing & Shoes
French Connection ceases search for buyer amid ‘strategic review’
French Connection has announced it is no longer searching for a buyer for the fashion brand, amid a strategic review. According to Drapers, French Connection will “refocus” on its turnaround which includes the “right sizing” of its store portfolio. The news follows just four months after the fashion retailer said…
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23 JanuaryAnalysis
Asos bounces back from tricky period
Back in July last year Retail Sector reported that Asos was having problems. It had issued a profit warning, suggesting profits were likely to be about one-third of what was originally anticipated. It was an interesting moment in the retail world, because the narrative for the whole of the last…
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17 JanuarySupermarkets
Morrisons appoints new executive promotions
Morrisons has appointed Andy Atkinson as its group commercial director and David Lepley its group retail director. The news follows the appointment of Trevor Strain as its chief operating officer and Michael Gleeson as chief financial officer. Atkinson joined Morrisons in 2012 and has held the positions of group customer…
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