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- 2020 -7 JanuarySupermarkets
Morrisons sales suffer over Christmas period
Morrisons has been hit by an “unusually challenging” festive period, it has announced in its latest trading update. Like-for-like sales, including fuel, were down 2.8% in the 22 weeks ended 5 January. Total sales were down 2.9%, including fuel. The supermarket giant said that conditions during the period “remained challenging”…
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6 JanuaryDepartment Stores
Debenhams announces 19 store closures
Debenhams has announced the closure of 19 of its UK stores, resulting in 660 job losses. The department store, which entered administration in April last year, launched its CVA in the same month. The closures are due to take place during the next fortnight, with stores closing from 11 January,…
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Dec- 2019 -18 DecemberHigh Street
Pandora appoints former Bulgari exec as new CMO
Jewellery brand Pandora has appointed former vice president of global marketing and communication, Carla Liuni, as its new chief marketing officer. Liuni is set to join the business in March and will report to CEO Alexander Lacik and will be serving on Pandora’s executive leadership team. Prior to joining Pandora,…
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11 DecemberDepartment Stores
Debenhams appoints John Walden and Kevin Conroy as non-executive directors
Department store Debenhams has appointed John Walden and Kevin Conroy as non-executive directors of Celine Jersey Topco, the parent company of the Debenhams Group. Walden is currently chairman of Naked Wines (formerly known as Majestic Wine plc) and was previously held the position of chairman at Holland and Barrett International.…
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9 DecemberSupermarkets
Tesco considers sale of its Asian arm
Tesco is considering the sale of its Malaysian and Thai businesses, the supermarket giant has confirmed. The two businesses have an estimated worth of £6.8bn between them. Tesco released a statement saying that this consideration follows “inbound interest” of the businesses, yet potential buyers are yet to be named. The…
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5 DecemberClothing & Shoes
Ted Baker drafts in AlixPartners to review operations
Ted Baker has reportedly drafted in consultancy firm AlixPartners to conduct a review of its operations. According to the Financial Times, the firm will review Ted Baker’s operations while coming up with a turnaround strategy. It is thought the appointment is separate to the investigation launched after the company’s board…
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4 DecemberSupermarkets
Morrisons appoints two new senior members
Morrisons has appointed two senior executives , naming a new chief financial officer and new chief operating officer. The ‘Big Four’ supermarket has appointed Trevor Strain, current group chief finance and commercial officer, has been promoted to chief operating officer and Michael Gleeson has been appointed as chief financial officer.…
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Nov- 2019 -21 NovemberPeople Moves
Arcadia appoints former De Vere chief as chair
Arcadia has appointed the former chief executive of the hospitality group De Vere, Andrew Coppel, as its new chair. Coppel will assume the chairmanship of Taveta Investments Limited, Arcadia Group Limited and Top Shop/Top Man Limited. Arcadia said he is an “experienced executive” having held a variety of cross sector…
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7 NovemberClothing & Shoes
Superdry reveals revenue drop amid ‘good progress’ in turnaround plan
Superdry has reported an 11% drop in revenues for the first half of the year but its returning chief executive hails the “good progress” it has made in its turnaround plan. For the 26-week period ending 26 October 2019, revenues reached £367.8m compared with £414.6m the previous year. Superdry said…
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Oct- 2019 -14 OctoberClothing & Shoes
Superdry names founder Julian Dunkerton as permanent CEO until 2021
Clothing retailer Superdry has announced that its founder Julian Dunkerton has been appointed to the role of CEO on a permanent basis until April 2021. The news comes after Dunkerton returned as interim CEO on the 2 April 2019, after he won the support of 51.15% of its shareholders to…
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