Up-to-date coverage of the latest events in UK retail.
Claire’s appoints new chief executive
The jewellery and accessories chain has poached US retailer Party City’s president Ryan Vero for the role of chief executive.
Vero, who has previously held roles at Sears and OfficeMax, will succeed Kevin Corning, who has acted as chief executive on an interim basis since October while a permanent appointment was sought.
Claire’s chair Samantha Algaze said: “Ryan’s track record of growth through innovation makes him the ideal leader to drive Claire’s into the future.”
Vero added: “Claire’s is at a moment of great potential, as the retail industry continues to change rapidly and consumer preferences continue to shift.
“I’m looking forward to leveraging these opportunities to ensure the company is well positioned for growth and that we are doing everything we can to provide our customers with the fun, unique products that they love.”
Hotel Chocolat full-year sales climb driven by ‘innovation’
Hotel Chocolat has recorded a healthy rise in its full-year sales bolstered by “strong growth” across all divisions of the retailer’s business.
The confectionary specialist posted a 14% uplift in sales year on year to £132m in the 52 weeks to June 30 in its full-year trading update.
The retailer said that it expected profits for the year to be in line with market expectations.
Watches of Switzerland profits soar in maiden results
Watches of Switzerland recorded surging profits bolstered by rising sales in what boss Brian Duffy described as a year of “strong, profitable growth”.
The luxury watch specialist pre-tax profit nearly trebled, up 181% to £20.1m in the year to April 28, driven by a 22.5% boost in group revenue to £773.5m.
Adjusted EBITDA during the period climbed 17.6% to £68.8m.