Robert Dyas, the homewares business acquired by
Dragons’ Den star Theo Paphitis on 10th July, delivered a sales
rise of 2.2 per cent in the year ending 31st March. Turnover
reached £105.9 million in 2011/12, compared to £103.6
million the previous year, but earnings dropped almost 32
per cent, from £4.1 million to £2.8 million, understood
to be as a result of poor weather during last summer. Chief
executive Graham Coles said in a statement that he looks
“forward to reaping the benefits of a much strengthened
balance sheet that is completely free of any bank debt”.
Trevor Moore, who announced he was leaving
Jessops
last month, is joining music and DVD retailer
HMV as chief executive on 3rd September. He
succeeds Simon Fox, who leaves HMV after six years at the helm.
Avon’s second-quarter financial results are
“not good” says chief executive Sheri McCoy, who
today announced a total revenue decline of 9 per cent to $2.6
billion. “We are working to stabilise the top-line, improve
cost structure and cash generation, and instil a more disciplined
culture of accountability,” McCoy told investors. “It will
take time, but I am confident that we can turn the business
around and reach a point of sustainable growth.” In the UK,
Avon’s revenue was down 10 per cent, (7 percent in dollars), due
to a decline in active representatives and lower fashion and home
sales. Operating profit for Europe, the Middle East and Africa in
the second quarter was $71.3 million, a 43 per cent slump.
Share