9/25/2008 11:08:00 AM
New CEO Johnson looks for change at Woolworths after £100m loss
Woolworths is under pressure to have a successful Christmas run-up after the retailer revealed last week that it made a £100m loss in the first half of the year.
Mobile phones are expected to play a critical role in Woolworths’ Christmas range as it looks at its stores, Big Red book catalogue and online.
The retailer has also been hit by the loss of one of its most important handset brands, Sagem, in August this year after it was sold to a French venture capital firm.
Woolworths makes close to half of all of its sales in the final three months of the year.
It is also under the stewardship of a new CEO, Steve Johnson, who took over from Trevor Bish-Jones two weeks ago.
Johnson gave a blunt appraisal of the business he will step into. ‘The stores and customers are at the end of the line rather than the beginning of the process’. He added that stores need ‘a good dose of basic shopkeeping and attention to retail detail’.