In its annual general report, it said it had overhauled the team behind young fashion label Portmans in a move to recover it from poor performance. The brand experienced a same store sales decline of 12 per cent in the 2008/09 financial year.
The apparel group also declared its intent to revamp womenswear brand Jacqui E following a sales decline. It had made changes to many senior roles in the label and will deliver a fresh take on product styling, value, quality and the in-store experience.
For other brands Jay Jays, Dotti and Peter Alexander, the company will focus on growing its market share by opening additional stores.
Recent appointments to the board back up this financial focus, with two new members included with solid financial experience. These included Dr. David Crean, a former state treasurer of Tasmania and Tim Antonie, a former managing director of UBS Investment Bank of Australia. Both will commence in December.
The past year has seen the group demonstrate a no-nonsense approach to low-performing ventures. It swiftly closed its struggling Peter Alexander US stores to foucs on domestic operations.
For more information pick up a copy of Ragtrader's November 06 issue.