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USC boss Jim McGonigle exits

USC chief executive Jim McGonigle has exited the fashion retailer.

McGonigle left the fashion chain late last month and is not being replaced. His duties will be shared across the existing USC board.

McGonigle is said to be exploring new retail ventures.

Sportswear giant Sports Direct acquired an 80% stake in USC, and sister company Cruise, in July and set up a premium lifestyle division. The retailer is carrying out a strategic review of its new acquisitions and will unveil its plans for the new division in December.

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