Helen Spencer

As a retail expert I discussed whether John Lewis & Partners can reverse its fortunes with Drapers news editor Elizabeth Howlett: There's a long road ahead, however, with current turnaround efforts expected to take until 2027/28 to bear fruit. John Lewis's interim results, released on 14 September 2023, painted a bleak financial picture for the retailer as operating profit declined by 6% year on year to £277.1m for the 26 weeks ended 29 July. Its losses narrowed by 14% year on year to £57.3m in the period. “The question is whether John Lewis is going the same direction as Allders, Arcadia Group, Debenhams and House of Fraser,” said Andrew Pepper, partner at business advisory RESOLVE.  (I was Administrator of Allders and advised the lenders on House of Fraser. I see lots of similarities.) “They will look at their property portfolio and look at their most successful premises and their least and explore if there is a way to right size its portfolio to be smaller on footprint, but more profitable.”   Pepper also pointed out that strong staff loyalty has some disadvantages. The partnership currently has a score of 3.8 out of 5 on open company review platform Glassdoor, with 70% of the 4,451 anonymous reviews from current and former employees recommending the company to others, with many citing good wages and employee benefits. While this has been a huge benefit to John Lewis over the years, as it has likely meant lower staff turnover and a good employer brand reputation, it could also mean larger redundancy packages. “John Lewis [and Waitrose] is a lovely place to work, so they likely had good redundancy terms and had people who had worked there for 20 years. Unlike other retailers, the movement of staff through [John Lewis] likely isn't that much,” explained Pepper. “By implication that means you have lots of people working there for 10-20 years, and the [redundancy] cost will be disproportionately higher.” Read more via Drapers, below. https://lnkd.in/eD5JPxHx #ForwardWithReSolve #privateequity #debtfinancing #thebodyshop #restructuring #administration Turnaround Management Association (TMA UK) Institute of Directors (IoD) R3 Association of Business Recovery Professionals Richard Obank Retail Trust #turnaround UK Government Investments (UKGI) Foot Anstey LLP M&G plc Barings BlackRock Russell Jarvis Evelyn Partners Philip Kirkpatrick Kirkland & Ellis Close Brothers Arbuthnot Latham Bank Leumi בנק לאומי UK PNC Metro Bank (UK) Santander HSBC RESOLVE Maddox Legal Limited CMS UK Shawbrook Bank ABN AMRO Commercial Finance Praetura Commercial Finance Arnold Vos Retail Realisation Rothschild & Co #venturecapital Bantry Bay Andrew Buchanan Buchanan #retail British Land Mike Thompson MBE @CVC Capital Partners #ForwardWithReSolve #retailnews #turnaround

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Victoria Ward has written an interesting article here about the difference between a Merchandise Strategy and a Merchandise Plan and why retailers need both to succeed https://lnkd.in/eR5dPH9U

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Discover how Morrisons leveraged Merret to launch and scale its clothing brand into one of the UK’s top 20 fashion brands. With Merret’s seamless integration and unmatched scalability, Nutmeg executed a nationwide launch, meeting demand with ease and efficiency. Curious how our solution can power your retail success? Download the case study and see how Merret helped Nutmeg grow into a national favourite!👇 Download the case study here: https://lnkd.in/e5gWQvuZ #RetailInnovation #CaseStudy

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Yesterday Claire, our Global Retail Director and I hosted a small group of UK&I shop managers at a customer service development session. We spent the first half of the day exploring retailers that are nailing aspects of the customer experience. Hamleys of London to show the positive impact product demonstrations have on the customers journey. the LEGO Group to show the influence furniture and shop design can have on customer flow and dwell time. And we may be biased but of course we couldn’t not visit our London anchor shop on Oxford St 🌟 There was a beautiful mixture of staff led interactions as well as self led exploration. To the customer who was styling their hair using our styling products, I can’t wait to hear what you think of them😍 After lunch we debriefed and thought about what experience do LUSH customers want when they visit one of our shops. Appreciating that a customer in Oxford St might be expecting something different to those in Manchester. How are we creating a sense of awe and wonder in our shops? How do staff facilitate their customers’ expectations? How is the layout set up to positively impact their experience? Are we facilitating enough spaces in our shops to encourage customers to explore our products? Are our staff set up to enhance the experience further? So many great discussion points were had. Very excited to hear how you all take this back to your shops and the impact you see! This wasn’t a classic, classroom style training session, at Lush we love to utilise different formats to keep things interesting. What’s your favourite format for training and development? #customerservice #retail #customerexperience

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John Lewis & Partners plans to reshape its buying and merchandising teams as it embarks on its transformation programme under the leadership of boss Peter Ruis. "As we look to turbocharge our business and offer the best possible products to customers, we’ve proposed some changes to our buying and merchandising teams." Read more below. #JohnLewis #restructure #careers #fashionnews #retailnews

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🎉 Today, members of my retail team are kicking off our quarterly 'new manager immersion' alongside one of our incredible training shop managers! 🌟 At LUSH, we believe in immersive learning experiences that go beyond just reading policies and theories. Our approach is all about blending various styles to ensure our managers hit the ground running with a true understand of their role! 💼 For the next three days, our newly appointed shop managers will dive headfirst into their roles. From interactive activities to thought-provoking discussions, they'll leave with new tools, approaches, and a whole host of tips and tricks to lead them to success in their roles. Here's a sneak peek at what's in store: 🛍️Retail Lesson: Drawing inspiration from other retailers, our managers will spend a good chunk of their time reflecting on the art of service within retail and why it's integral to their role at Lush. 💆‍♀️Experiential Recruitment: Forget the traditional approach! Managers will learn why we believe a more experiential recruitment approach is needed in retail. 🥳Lush Party: Get ready to party! Our managers will experience firsthand what it takes to deliver exceptional party bookings, hosting, and aftercare. But that's not all! The event isn't confined to a training room. Where appropriate, the team will be hosting as much content as possible on the shop floor, where our managers will learn alongside our experienced retailers, training shop managers and each other! Peer-to-peer learning and networking will be at the heart of it all. Our managers will have the chance to connect with fellow peers on similar journeys, forming invaluable connections. 🤝 A huge shoutout to Bethan Watts, Mike Collier, Natalie, and Lorna Bottomley for spearheading this immersive experience and inspiring our new managers! 🙌 Retail leaders, take note! Learning isn't one-size-fits-all. Are you incorporating a variety of formats, environments, and approaches into your training programs? Share your most memorable experiential learning moments with me! 💡 #retaillearning #retailleadership #learninganddevelopment

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Combination of buying and merch in this role.

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As Purple Tuesday takes place tomorrow (12 November), Sophie Morgan, TV presenter and disability advocate, explains how fashion retailers can – and must – make the shopping experience more inclusive for all customers, including those with disabilities. Read more below. #inclusion #storedesign #PurpleTuesday #fashionretail

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Matalan has announced that it will lock the prices of its school uniforms for consumers ahead of the back-to-school season. Read the full story below. #matalan #fashion #schooluniforms #retail #retailnews

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Asos plunges to £120m loss as sales nosedive amid turnaround plan Asos losses widened to £120m in its half year as sales plummeted amid its turnaround plan. Adjusted pre-tax losses fell by almost a third over the half to 3 March, as group sales were down 18%. Despite this, Asos reiterated its full-year guidance of a revenues fall of between 5 to 15% alongside positive adjusted EBITDA. The online retailer said it was ahead of plan with its stock reduction process, as it continued to push ahead with its turnaround plan. Asos offloaded 83% of its autumn collection, making it a 17% improvement from the same time last year. #asos #online #retailer #ecommerce #stock #sales #plan

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Following on from ASOS.com, Boohoo Group PLC, and George at Asda's decision to sign voluntary undertakings that ensure their consumers have a clear idea of how green their products really are, the Competition and Markets Authority have published a compliance guide that provides fashion brands with practical guidance on how to make sure they comply with consumer law and do not mislead their consumers. Explore the key takeaways from the guide in the latest article by Solicitor Georgie Clayton and Trainee Solicitor Rachel Airriess: https://lnkd.in/dbhh9KDp #SustainableBusiness #ConsumerRights #FashionLaw #EthicalFashion #ComplianceMatters #LegalInsights #FashionIndustryNews

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This week, the retail industry has seen a tale of two retailers, B&M and ASOS. While B&M reported a revenue of £5.5bn, up over 10% on last year, and plans to open more stores, ASOS group sales are -18% on last year over the half year. They are struggling to change their operating model to be more agile and rediscover their identity against a backdrop of changes in customer behaviour. The difference in their performance updates couldn't be starker! Check out the link below for more details on ASOS's interim results. #RetailIndustryUpdates #PerformanceUpdates #BusinessNews ASOS: https://lnkd.in/eRZwCcYa

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Another set of strong results from TJX this morning. Quarterly sales are up by 6.0%, adding to a string of gains. For the nine-month period to-date, TJX’s sales are up by 35.6% over 2019 – an increase of $10.5 billion in monetary terms. The consumer mood for value-focused indulgence is firmly in TJX’s camp, but the retailer deserves enormous credit for translating this into sales gains through great buying skills. There is also a very solid consistency to the TJX numbers which underlines how well the business executes on its plans, even in an environment that is very changeable. This operating prowess extends from corporate offices down to regional and store management teams. There is an air of quiet competence about TJX and its teams at all levels – and this should not be underestimated in driving success. #retail #retailnews #value #offprice #apparel #homewares The TJX Companies, Inc.

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Asos plunges to £120m loss as sales nosedive amid turnaround plan Asos losses widened to £120m in its half year as sales plummeted amid its turnaround plan. Adjusted pre-tax losses fell by almost a third over the half to 3 March, as group sales were down 18%. Despite this, Asos reiterated its full-year guidance of a revenues fall of between 5 to 15% alongside positive adjusted EBITDA. The online retailer said it was ahead of plan with its stock reduction process, as it continued to push ahead with its turnaround plan. Asos offloaded 83% of its autumn collection, making it a 17% improvement from the same time last year. #asos #online #retailer #ecommerce #stock #sales #plan

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Exciting opportunities

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CONFIDENCE AT THE CENTRE OF THE CUSTOMER JOURNEY I'm firm believer that confidence is one of the most critical elements across a customer journey. Confidence a retailer can help me, that what I need is available, is a fair price, will arrive when needed, will do the job, will last, will look good... It's at the heart of every step.    This is even more important with intangibles like services. Especially big, complex projects like kitchens, bedrooms and bathrooms. High investment projects like these (both financially and emotionally) can be incredibly nerve-racking, even more so when you're relying on someone else to deliver your dream. So even when you as a retailer have confidence in your offer, transferring that confidence to the customer is vital.    I shared a few months ago B&Q's brilliant animated video on the installation service (link in comments) which gives a great intro, but what about all those little niggling questions and concerns? What is/isn't included? will the parts arrive in time? what disruptions will there be (and how do you minimise them)? What happens to the old kitchen?    Anthony Kirkwood and the team have got them all covered in this fantastic follow-up Q&A video with Neil, one of the installers, now also added to the installation home page. A great format to compliment the animated video and just take a little more weight off the mind of the customer.   Well done to everyone involved - and for better quality vid and the full installation overview, find link in the comments

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**Dunelm sales up 3.5% in first quarter** Dunelm has posted a 3.5% increase in sales to £403 million in its first quarter after growth was driven by increased volumes. The homewares retailer said the sales uplift was broad-based across its categories, with its sofa collections performing particularly well. Nick Wilkinson, chief executive of Dunelm, said: “We have delivered robust sales growth over the first quarter, offering a wide range of products for the home, at outstanding value, and this continues to resonate with new and existing customers. “As ever, relevance is central to our offer and we were delighted by the success of our largest student campaign yet, which was well received by customers seeking out bright and stylish designs.” Online sales were especially strong as the retailer continues to improve its digital shopping experience. It has recently implemented a new AI-led product discovery function, in partnership with Google, which enhances the customer search functionality on its website. Dunelm is also making good progress against other strategic priorities, which include the opening of its first inner London store at Westfield London in the first half as it looks to benefit from a high footfall location. It is also planning to launch five to ten new superstores per year over the medium term. Wilkinson added: “Whilst we are yet to see meaningful change in underlying consumer sentiment in our markets, we remain focused on our plans. “We believe we have continued to gain market share and, with continued strategic progress, remain confident in our ability to reach our next market share milestone of 10% in the medium term.” #dunelm #retail #valuethroughinsight

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The power of brand and customer service - a lesson from John Lewis In today's distinctively competitive landscape, a brand is only as strong as the customer service it provides. John Lewis’s recent initiative to revamp staff roles underscores a crucial business truth: exceptional customer service is not just a department, but the backbone of a brand’s reputation. By investing in their people, they are reinforcing the trust and loyalty that have defined their brand for generations. For me this move serves as a reminder to all businesses, prioritise your customers, and your brand will thrive!!!! #CustomerService #BrandBuilding #Leadership #BusinessStrategy

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Another 'big hitter' joins Asda, well, in March next year. Iceland's Group Buying Director joins next year with the role now vacant after Paul Gillow leaves. That means that for the next 8 months there is a leadership void, it will add to the pressure upwards & downwards. Of course it will be an 'opportunity' for someone to step up but it is the most important period of the year as it incorporates the Golden Quarter. During Oct- Dec you can't afford to get any decisions wrong any more, not when your competitors are getting all theirs right! In pretty much every part of the business Asda have changed their most senior leaders, although still waiting for a CEO. With the latest changes it means that the DNA of 'old Asda' has finally disappeared. Those who worked in the 2000s where so many future leaders cut their teeth have now left the building. The number of future CEOs & MDs who were part of the Asda Commercial team in the 2000s is amazing, I was privileged to be (a junior) part of it. I learned so much from those during that period as well as having a brilliant time. A great business is built on a blend of experience & youth. The experience carries the DNA of a business & the youth brings in the dynamism & different thinking. Business should always look forwards, not backwards but should remember simple things that worked in the past & not throw out every past success just because it has different leaders. In my opinion, the worst leaders come in & want to change everything right away, without even taking time to see what is actually working. It would seem that Asda are (still) in a period of transition, moving away from the business that it was (price / customer focused) to a different model. Price will no longer be the DNA that runs through it. It will be interesting to see what the 'new' Asda looks like. I hope that it is strong & able to compete with the other Retailers. The market is always working at its best when competition is there on elements other than just price. I am not sure we will see much positive change from Asda this year, Tesco / Sainsburys / Lidl / M&S are all too strong & offer their customers an alternative in every area. Maybe 2025 will be the year that it becomes something else. It's 25 years this year since Asda was bought by Walmart, it changed before & it can change again. #theretailmind #groceryretail #change #leadership

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