Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Marks & Spencer poaches Halfords CEO to lead clothing revival

Marks & Spencer Group has picked up head of UK car-parts seller Halfords Group to turnaround its struggling clothing business, handing one of the industry’s toughest tasks to a fashion novice. Jill McDonald will start at the apparel giant in autumn, having resigned from Halfords after just two years in the job, the companies said in separate statements.

In her new role, McDonald will be responsible for turnaround plans at a division that showed signs of revival during the Christmas season after a five-year sales slump. Having previously worked at the McDonald’s fast-food chain and British Airways, she brings little experience of the apparel market, though some analysts said that may not count against her.

The surprise move had little impact on Marks & Spencer shares, which fell 0.7 per cent in early London trading. Halfords dropped 3.2 per cent. The appointment concludes a yearlong search by Marks & Spencer Chief Executive Officer Steve Rowe, who has continued to lead the clothing business he ran before being promoted to group CEO in April last year. The company was said to have offered the job to former next Plc star Christos Angelides prior to his appointment as head of UK fashion chain Reiss earlier this year.

Michelle Wilson, an analyst at Berenberg, wrote in a note that Marks & Spencer key issue in clothing and home stems from its slow and unresponsive supply chain, and given McDonald’s limited experience in this area, the reason is definitely positive.

The news represents a setback for Halfords, coming two years after former CEO Matt Davies was hired by supermarket giant Tesco Plc to head its UK grocery business. Halfords further said it expects results for the year through March to be in line with analyst estimates.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo