Moss Bros chairman to step down
Moss Bros has said its chairman Debbie Hewitt has signalled that she intends to retire from the its board no later than the company's annual general meeting on 15 May 2019.
During the next 12 months, the men's formalwear brand will be undertaking a search for her successor as it looks to make sure there is an effective handover.
Hewitt was appointed to the Moss Bros board as a non-executive director in June 2009 and became chairman in April 2010.
Moss Bros chief executive Brian Brick said: "Debbie is a talented chairman, who has built and led a high quality, diverse board, with a strong sense of purpose. The group has undergone an incredible transformation since she became chairman and she has played an important role in galvanising the board through the early days of the turnaround and in providing the board leadership to create and drive our strategic agenda.“
Meanwhile, Moss Bros has reported that total like-for-like sales declined by 5.2% year-on-year in the 15 weeks to 12 May. This was an improvement on the March run rate of -6.5% after the retailer was impacted by problems with availability of stock, challenging hire sales and reduced footfall in its stores at the beginning of the year.
Moss Bros said the expected recovery in stock availability is now on track.
Brick added: "Following a disappointing start to the year, our trading performance has, as anticipated, begun to improve, as a result of our improving stock availability.”
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