By Leanne Carr2020-01-16T07:27:00
The Works posted a fall in half-year profits as it was revealed that chief executive Kevin Keaney is stepping down with immediate effect.
Keaney will be replaced by chief financial officer Gavin Peck. Prior to joining The Works in April 2018, Peck was commercial director at Card Factory.
The current head of finance Rosie Fordham has been appointed as interim chief financial officer.
The Works’ adjusted EBTIDA fell to -£4.3m during the 26 weeks to October 27 from a loss of -£0.9m for the same period the previous year.
The toys, books and stationery retailer also registered a fall in like-for-like sales from an increase of 4.5% during the 11 weeks to January 13, 2019, to an uptick of 1.5% during the 11 weeks to January 12, 2020.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.