Another day, another high-profile exit as Simon Belsham, boss of Notonthehighstreet, departs with immediate effect.
It is the third c-suite exit for retail in a week, with Dunelm boss John Browett exiting the business and New Look chief executive Anders Kristiansen leaving after the business’ financial performance nosedived.
Conversely, Notonthehighstreet is on the up at the moment, with sales rising and losses shrinking in its last year.
Another business posting excellent results is Boden, run by ex-Tesco transformation boss Jill Easterbrook. After launching a partnership with John Lewis, the former catalogue retailer is set to open a store on the King’s Road.
Elsewhere today, Sainsbury’s boss Mike Coupe has warned that food could be left to rot at borders after Brexit, Paperchase has hired former Disney store executive Duncan Gibson as its chief operating officer, and M&Co is plotting an expansion push as its profits and sales climb.
Quote of the day
“It’s not surprise or serendipity that’s driven our consistent innovation, which is different from a lot of enterprises, which have one genius idea or stroke of luck and then rest on that rather than pressing forward.”
Today in numbers
The spike in sales at BHS.
The number of stores M&Co plans to open over the next five years.
Halfords will report its trading for the 20 weeks to August 18 tomorrow.
Becky Waller-Davies, reporter