It’s all change at the top for two of the UK’s biggest retailers today as Sir Philip Green appoints a new boss for Topshop and Bertrand Bodson leaves Sainsbury’s Argos.
Boss Sir Philip Green will no doubt hope these two appointments will stem the tide of departures across his businesses. Alongside Homer, Topshop’s trading director and Burton’s managing director have stepped down from their respective roles in recent months.
Time will tell if fresh blood across the fashion giant’s executive teams will also turn around Topshop’s flagging performance and return it to its former cult status on the high street.
It is understood that Bodson does not have a new role lined up. However, given that he was instrumental in delivering the strategy that made Argos’ an attractive acquisition for Sainsbury’s, it is likely he will be in high demand for many retailers grappling with the unforgivable pace of innovation across the sector.
Quote of the day
“What we’ve seen in difficult times for the economy is a flight to quality. People are maybe spending less overall, but expecting good quality things that actually deliver on what the brand promises.”
Today in numbers
The square footage of Chinese fashion retailer Urban Revivo’s first UK store, slated to open in Westfield London next May
The increase in Hotel Chocolat’s full-year sales to £104m
Grace Bowden, reporter