Austin Reed's classic womenswear chain Country Casuals is to undergo a major revamp following a fall in sales in the first half.
A new design team has been drafted in to help rejuvenate the range for spring. Austin Reed chief executive Roger Jennings said the core range will cater for an increasingly fashionable customer. An Italian collection will also be launched.
In addition, the logo and fascia have been redesigned, but are yet to be unveiled.
In the six months to August 9, sales at the chain fell by 6.5 per cent on last year and 8 per cent on a like-for-like basis.
'Our competitors have caught us up. We have had the same look for eight years and the market has moved forward. We have to re-establish our leadership position,' said Jennings.
Seymour Pierce analyst Richard Ratner said the turnaround at Country Casuals had already begun, with sales of the autumn/winter range flat to slightly up.
'Classic womenswear is a difficult market, but it seems to be doing well,' said Ratner.
Sales for the overall Austin Reed group in the first half fell to£56.4 million from£60.3 million for the same period last year.
Pre-tax profits halved to£1.1 million from£2.7 million, hit by disruptions from the redevelopment of its Regent Street flagship and a too-narrow product range.
No comments yet