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- 2019 -23 JanuaryClothing & Shoes
Burberry like-for-like sales marginally up over December
Luxury fashion house Burberry has announced a marginal like-for-like sales increase over December as it “continued to build brand heat” around its new creative direction. Burberry said that same store sales increase by 1% during the 13 weeks ending 29 December. This is despite total retail revenues having dropped by…
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18 JanuaryClothing & Shoes
New Look’s Belgium outfit files for insolvency
The board of New Look Retail Group has announced its Belgium arm (NLB) has filed for insolvency following a review of its financial and trading position. NLB, which currently operates six stores in Belgium, said its board concluded it is “unable to continue trading”, and has decided to therefore wind…
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14 JanuaryClothing & Shoes
New Look reveals plan to slash debt to £350m
High street retailer New Look has announced it has reached an ‘in principle’ debt-for-equity swap proposal with key stakeholders to reduce its debt by 80%. The fashion chain is seeking to cut its debt from £1.35bn to £350m and issue new bonds to raise £150m in capital. It also expects…
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8 JanuarySupermarkets
Morrisons posts fourth consecutive year of Christmas growth
Supermarket giant Morrisons’ group like-for-like sales increased by 3.6% for the nine weeks to 6 January 2019, its fourth consecutive Christmas of growth. The figure comprises contributions from retail of 0.6% and wholesale of 3%, with total sales also up 4% excluding fuel (3.8% including fuel). In a statement Morrisons…
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Dec- 2018 -21 DecemberAdvice
How retailers can avoid the £2.4bn peak returns crisis
The Christmas peak period is often heralded as the saving grace of retail’s calendar. But any dramatic spike in sales also leads to a marked rise in the number of returned items – and this surge brings a multi-billion pound hangover which haunts UK retail through to January sales and…
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Nov- 2018 -23 NovemberHigh Street
Wyevale Garden Centres sells five sites
Wyevale Garden Centres has sold five more of its stores as it continues plans to cut back its retail portfolio as part of a turnaround plan. A Wyevale spokesperson told Retail Sector: “In accordance with TUPE regulations colleagues are now being consulted with on the transfer of their employment to…
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19 NovemberClothing & Shoes
J.Crew CEO steps down despite promising turnaround signs
J.Crew Group has announced that CEO James Brett is to step down with immediate effect after reaching a mutual agreement with its board of directors. The news comes just 17 months after Brett was appointed to lead a turnaround strategy for the fashion retailer. Recent months have seen the brand…
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Sep- 2018 -18 SeptemberClothing & Shoes
H&M posts 9% sales increase
H&M’s group sales have increased by 9% according to the fashion chain’s Q3 financial update. Performance exceeded analysts’ expectations, resulting in the company’s highest share increase in 17 years. The firm attributed to the results to investment in its online offerings and logistics systems. Investors rallied to what seemed to…
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17 SeptemberDepartment Stores
Sports Direct denies Mike Ashley will block Debenhams’ Magasin du Nord sale
Sports Direct has denied the claims which emerged over the weekend that Mike Ashley will attempt to block a sale of Debenhams’ Magasin du Nord business. Reports had suggested the Sports Direct boss could block Debenhams attempt to raise cash through the £250m deal, in order to buy the store…
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13 SeptemberSupermarkets
Morrisons H1 results hits nine-year high with 6.3% sales increase
Supermarket giant Morrisons’ like-for-like sales increased by 6.3% in the group’s half year results, marking a nine-year high for the company. Revenue increased by 4.5% to £8.80bn, compared with £8.42bn the previous year, and underlying earnings per share also increased by 8.5% to 6.28p. However profit before tax slumped by…
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