Retail news round-up on May 6, 2015: Two more non-exec directors to leave Tesco; Jaeger ex-owner criticises new management; House of Fraser stocks sports hijabs.
Tesco to lose two more non-exec directors
Tesco has almost completed its overhaul of the entire senior team, with two more non-executive directors leaving the grocer. According to a company statement, Ken Hanna, chairman of its audit committee, and Stuart Chambers would stand down following the annual meeting in June. This would mean that the retailer will be left with only two directors on board. Keep abreast of all the moves with our Grocery Watch.
Ex-owner ‘saddened’ by way Better Capital runs Jaeger
Former Jaeger owner Harold Tillman has criticised the way Jon Moulton’s Better Capital has run the luxury fashion brand since buying it in April 2012 and declared he would set up a rival business to serve the retailer’s disappointed customers. The fashion entrepreneur said he was ‘saddened’ by the way the private equity firm had shrunk the chain in an attempt to drive down costs and debts. Tillman said turnover at the group had fallen and losses widened since its acquisition. This came after it emerged that Better Capital was considering moving Jaeger out of its Regent Street flagship store.
House of Fraser to sell a range of sports hijabs
House of Fraser is now selling a range of sports hijabs that are designed for Muslim women to wear while doing exercise, including swimming. The mainstream retailer is stocking veils in floral, striped and plan black designs, which retail at £14.99. The hijabs, made by Shorso, covers the head and chest.
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