News
AO’s Steve Caunce steps down as CEO
AO World announced early in February that Steve Caunce was to step down as CEO and from the Board with immediate effect. Company founder, John Roberts, has now assumed the CEO role. Mr Caunce (pictured right)
strengthened the Group’s organisation, senior
management resources and
operational plans and he also rapidly expanded AO’s continental European operations and broadened the Group’s product categories, including through the acquisition of Mobile Phones Direct. After more than 13 years as part of the
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SUPERFI CLOSED DOWN
Early in February, specialist hi-fi and audio-visual retailer, Superfi, ceased trading and its six UK stores were closed. Sources indicated that the company had told suppliers in an email that it intends to enter into administration and that all existing stock had been transferred to the firm’s central warehouse. ERT contacted Superfi about this but did not receive a reply. News spread across the industry. Paul Laville, CEO of T21 Group, told ERT: “I’m genuinely saddened that Superfi has apparently closed its stores and ceased trading.
“Superfi is one of our own – a business staffed by good people who always
seemed to me to have a real passion for what they did. Not a massive, impersonal corporation, nor a dinosaur out of touch with the times, but a company with progressive aims keen to showcase the latest and best in audio visual and connected technology, and find ways to make it all come alive for their customers. “If Superfi does have to pull the shutters down for good, it’ll be a real loss to the industry and my heart goes out to everyone who will be effected by the closure of the business.” The company had stores across the UK in Birmingham, Manchester, Nottingham, Derby and Lincoln. Members of the public voiced their concerns regarding Superfi on Lincoln High Street, with some “demanding answers”. “The shutters are down on Superfi on the upper end of the street, with no sign to say why, and stock is still visible inside the premises,” one person said. Others on Twitter posted: “@Superfionline why are no stores a nswering phone calls?” and: “So what’s going on with Superfi? I have a lot on order but no answer from any number and the stores I checked were closed”. At the time of going to print, the company’s website –
www.superfi.co.uk – was not accessible.
Group’s management team, Mr Caunce has stepped back to a less demanding business role. He will remain involved in the business on a part-time basis as an adviser to the CEO and the Board. The Board re-appointed John Roberts, AO’s founder (pictured left),
as CEO. Mr Roberts originally led the business until February 2017. Retail Analyst, Nick Bubb, told the BBC: “It’s always hard in these situations to know if the CEO jumped or was pushed, but on the face of it, the move is very friendly: Steve Caunce was a bit stressed out with the job and John Roberts, the backseat driver, fancied taking the wheel again.”
Mr Caunce commented: “It is a privilege to have played a signifi cant part in AO’s success and to have led the company for the last two years. I feel AO is well placed to continue to thrive as a leader in our sector.
UK businesses claim retail ‘damaged by Brexit’
Brexit is having a ‘damaging impact’ on the retail sector, according to the views of 71 per cent of UK retailers, a new survey has revealed. Brexit is creating a great deal of uncertainty within the country and beyond. Retail
operations platform,
Brightpearl, set out to explore how retail decision-makers feel the country’s vote to leave the EU has impacted their sector in the weeks leading up to Britain’s big exit from Europe. Researchers found that four-in-fi ve
retailers are concerned about the impact Brexit will have on business and almost half have seen a detrimental impact on their own sales since the process to leave the EU began. Brightearl’s survey canvassed the opinions of more than 110 decision makers, at an executive level, at some of the UK’s biggest retailers. Staggeringly, 77 per cent stated their belief that it was wrong for Britain to leave the EU in hindsight and an overwhelming majority (73 per cent) would support another referendum on Britain’s EU membership. “Retailers are extremely concerned about Brexit - but there’s much they
can do to minimise its impact,” said Brightpearl’s CEO, Derek O’Carroll. “Retailers must be agile with the right technologies in place that support greater fl exibility, such as the ability to enter new markets with minimal investment or to test new business models. Systems that provide real-time access to data are also key for live updates on business performance and customer insights - which can be used to make more informed decisions, which will ultimately help prepare and protect a business in the wake of Brexit.” Brightpearl’s study also revealed a negative impact on consumer spending, with nearly three-quarters of respondents claiming that Brexit uncertainty means shoppers are spending less on the high street and online. “Brexit is affecting consumer
confi dence in almost all sectors,” added Gareth Austin-Jones, Director, Cocorose London. “Another fundamental issue for us, and many retailers, is the increased cost of importing fi nished goods, parts or materials as a result of Brexit.” Read the full story online on the ERT
website.
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