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Exclusive: Redundancies at White Stuff as CEO steps down

Lifestyle retailer White Stuff has made close to 30 redundancies across its head office in recent weeks, Drapers understands.

Recruitment sources indicated that there have been several departures, particularly from within the marketing and merchandising departments. One source said 28 people had lost their jobs.

It is understood that the departures include the head of international and head of merchandising, as well as several junior-level merchandisers. White Stuff refused to confirm or deny the job cuts. 

The news comes after White Stuff revealed earlier today (18 July) that chief executive Jeremy Seigal is leaving the business after four years in the role. The retailer is recruiting for his replacement.

It is not known whether Seigal’s departure is related to the wider restructuring.

White Stuff has expanded its business in the UK and overseas during the past year, including store openings in Germany, and new concessions in Belgium and Italy. In the UK it has opened stores in Plymouth, Ludlow and Newark.

In the 52 weeks to 30 April 2016, total sales at White Stuff rose by 10% to £144.6m, while EBITDA fell by 2.9% to £20.4m. 

 

Readers' comments (1)

  • Obviously trade must be really tough for them to do this. Historically White Stuff have excelled at maintaining a full price offer, but have noticed that there have been more promotions and they've been offering deep discounts during sale (with a lot of stock), which means footfall/sales/profits must have materially deteriorated this financial year. Board want to maintain profitability, so last resort is to reduce costs (people) as it's not coming through via topline sales growth.

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