Shares in the
In an interim management statement for the 15 week period to
"We are taking a different approach to the business, by moving away from aggressive discounting and concentrating on full price sales. This has impacted online sales where most discounting has traditionally taken place," said the company.
On an international basis, retail space rose 13.3% during the period and constant currency sales were up 14.7%.
Global retail space rose 7.1% year-on-year to 4.5 million square feet, growing to 1,476 stores in 60 countries.
In a statement Newton-Jones said that the company will initially concentrate on four themes to "fix the basics;" cost reduction and cash generation, rebuild gross margins, improve service both online and in store and product improvement.
"His business transformation expertise gives me confidence that we will achieve our plan to turnaround the
At the beginning of July the
Most Popular Stories
- Rackspace Ends Talks About Possible Acquisition
- Mercedes Rolls Out S550 Plug-in Hybrid
- FedEx Adding 50,000 Holiday Jobs
- Plus-Size iPhones Live Up to The Hype
- Toxic Algae Threatens Florida Fishing, Tourism
- Cool Features on Today's New iOS 8
- Missouri GM Plant Adding 750 jobs
- Family Dollar Spurning Bid From Dollar General
- Kohl's Hiring 67,000 for the Holidays
- Poverty Rate Drops for First Time Since 2006