Bonmarché Holdings plc announces that its CEO Beth Butterwick will step down to join Karen Millen as its Chief Executive

Wakefield, England, 2015-12-21 — /EPR Retail News/ —

1. Beth Butterwick to step down as Chief Executive Officer

Bonmarché Holdings plc today announces that Beth Butterwick, Chief Executive, will step down after four years with the Company to join Karen Millen as Chief Executive. Beth will remain with Bonmarché until her successor is appointed to ensure a smooth transition.

The Board is conducting a comprehensive search for the Company’s next Chief Executive and a further announcement will be made in due course.

John Coleman, Chairman, said:

“On behalf of the Board, and all our colleagues at Bonmarché, we thank Beth for her exceptional contribution over the past four years. She has led the business through a transformative period, through the acquisition by an affiliate of Sun Capital Partners in 2012, the IPO on AIM in 2013, and most recently the Company’s transition to the London Stock Exchange’s Main Market as one of the UK’s largest women’s value retailers.

Beth has imbued Bonmarché with a sense of energy and purpose, and today the business is wellplaced for long-term success, with a robust balance sheet, strong management, and a carefully formulated growth strategy. We wish her all the very best for the future.”

Beth Butterwick, CEO, said:

“It has been a great privilege to lead this unique Company. I would like to offer my sincere thanks for the valued support from customers, colleagues, suppliers and shareholders, throughout my time with Bonmarché.”

2. Trading update

In the Company’s Interim Results report published on 23 November, the Board stated that, provided trading conditions normalised for the remainder of the financial year, its expectations for the full year would remain unchanged.

Trading conditions during December, particularly since “Black Friday” on 27 November, have been very challenging, and have not normalised. The Board’s view is that these trading conditions are likely to continue for the remainder of the winter season and it has therefore revised its profit expectations for the current financial year. Given the ongoing volatility of trading conditions, the Board considers it likely that the PBT will be within the range of £10.5m to £12.0m.

The Company will issue its post-Christmas trading update on 15 January 2016.

ENQUIRIES:
Bonmarché Holdings plc
Beth Butterwick, Chief Executive
Stephen Alldridge, Finance Director
c/o FTI +44 (0)20 3727
1000

FTI Consulting – Communications adviser
Jonathon Brill, Josephine Corbett
+44 (0)20 3727 1109

Investec Bank plc
Garry Levin, David Flin, David Anderson
+44 (0)20 7597 4000

SOURCE: Bonmarché Holdings plc

House of Fraser Introduces Karen Millen Online

House of Fraser has introduced the new 2010 spring/summer collection from Karen Millen to its online store.

House of Fraser Introduces Karen Millen Online

The collection heralds in a new, relaxed mood with elegant, draped pieces tailor-made for the season’s artful layering. Fluid fabrics, easy cuts and feminine details are combined with a cool palette of calm neutrals. The lighter theme continues with pretty lingerie detailing while slick sporty pieces add a modern, urban twist. Hot tropical colours and dazzling prints bring vibrancy to the mix. Customers can now purchase their favourite fashion pieces from Karen Millen, online at House of Fraser.

The Karen Millen collection at houseoffraser.co.uk incorporates the latest trends for fashion conscious women. Collections range from edgy black and white monochrome prints to vibrant tropical shades for the coming summer months.

Underwear becomes outerwear as lingerie and corsetry details appear in elegant tops and dresses within the Karen Millen collection. A sculpted black jumpsuit and form-fitting dresses are cut with corsetry details and peek-a-boo chiffon panels. Vintage slips inspire a nude silk halter-top trimmed with delicate lace. Beautiful French lace is cut into a delicate jacket to dress up or down, or into feminine dresses with seductive drape details.

Via EPR Network
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Burton announce VAT price reductions will be passed on to all customers from the 1st December

Following The Chancellor of the Exchequer Alistair Darling’s decision to cut Value Added Tax (VAT) from 17.5 per cent to 15 per cent, Sir Philip Green’s Arcadia Group has released a statement on behalf of a group of the high street’s most powerful retailers, confirming they will pass the full VAT cut onto their customers.

The change in the VAT rate will mean huge changes for all the shops in the Arcadia group, as all shelving and register prices will need to be updated. However, Burton, Arcadia, Mosaic Fashions, Bhs, Marks & Spencer, New Look and Next all confirmed in the statement they planned to pass the 2.5% VAT cut on to customers on Monday, or soon afterwards.

The group of retailers covers some of the biggest names on the high street, including; Topshop, Topman, Wallis, Dorothy Perkins, Miss Selfridge, Evans, Burton, Bhs, Oasis, Coast, Karen Millen, Warehouse, Principles, Shoe Studio Group, Jane Norman, New Look and Next fascias.

The statement by Sir Philip said: “Following the recent announcement reducing VAT from 17.5% to 15%, equating to a price reduction of 2.13%, we are pleased to confirm that it is our intention to pass the benefit of this reduction onto our customers.”

The price reduction will be given on standard rated product and will be applied on, or as soon after Monday December 1 as possible.

The statement added that this would, “allow for the complexities of implementing the changes required.”

It is unclear how the price cuts will be implemented, however many retailers are expected to take off the discount at the till point rather than by re-ticketing stock.

For Burton, all mens clothing, mens suits and mens accessories will be adjusted at point of purchase as of 1st December 2008.

About Burton
Burton has a long history in men’s clothing and fashion, having been founded in 1903 by Montague Burton in Chesterfield. Burton now has over 400 outlets all over the UK and Ireland making it one of the country’s largest sellers of casual and formal menswear, including mens shirts, jeans, jackets, knitwear, shorts, shoes, underwear and accessories.

Customers can also shop online from the Burton.co.uk website which offers free returns in-store or by post and fast delivery to their home.

Via EPR Network
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