Up-to-date coverage of the latest events in UK retail.
Menkind appoints inaugural managing director
The gadget retailer has poached Bonmarché trading director Simon Calvert as its first managing director.
Calvert, who has previously worked at BHS and The Conran Shop, will be tasked with overseeing the retailer’s buying, supply chain, retail operations and digital channels. He will work closely alongside current chief executive Paul Kraftman.
Kraftman said: “Simon’s unique combination of skills and experience will be extremely beneficial to Menkind. He has built his professional background in both start-ups and corporate enterprises and can understand our business from end to end, which makes him a very attractive partner to have on board”.
UK retail industry conditions on brink of all-time low
The health of the UK retail sector is on the cusp on hitting record lows as businesses battle “some of the toughest trading conditions they have experienced.”
The Retail Health Index, which measures a variety of metrics to ascertain the robustness of the retail sector including consumer demand, gross margins and costs, fell one point to 76 in the second quarter of 2019, according to the KPMG and Ipsos Retail Think Tank.
Harrods chief marketing and customer officer exits
The luxury department store retailer’s marketing and customer boss Amanda Hill will step down from her role in November after joining the business in April 2018.
Hill, who has previously held roles at L’Oreal and the BBC, will step down from her role due to “family commitments”, with a search for her successor underway.
A spokeswoman for Harrods said: “Over the past 18 months, Amanda has ensured that marketing, insight and creative content are at the centre of Harrods strategy and that our focus on the customer is at the heart of our operations- all through the lens of our new brand proposition; the Art of the Possible. Harrods wants to thank her for all of her hard work and wishes her best of luck in her new adventure Stateside.”
Joules profits and sales climb in ‘strong’ year
Joules has reported soaring full-year profits and sales in what boss Colin Porter say was driven by “growth across channels and product categories, both in the UK and internationally”.
The fashion specialist posted a 19.4% rise in underlying pre-tax profit to £15.5m in the 52 weeks to May 26.
The retailer recorded a 17.2% boost in group revenue to £218m, driven by a 43.5% jump in international sales, which comprised 16.1% of group sales during the period.
McColl’s seeks ‘stability’ as profits nosedive
McColl’s has posted a decline in profits at the interim mark despite an uplift in sales as boss Jonathan Miller says the group plans to “refocus on retail execution.”
The convenience store group, who’s profits were hit by the collapse of Palmer & Harvey last year, recoded a 91% drop in pre-tax profit to £200,000 in the 26 weeks to May 26.
The retail group recorded an 19% fall in adjusted EBITDA to £13m, while total revenue inched up 0.1% to £611.1m, bolstered by a 1% rise in like-for-like sales.