Premier Investments has bolstered its retail arm with the appointment of four new executives to the senior management team at The Just Group.
The appointments, which include Karen Russell, former Target Australia business manager and Deanna Moylan, ex-Myer business manager of women's youth apparel and accessories, will expand Just's current executive team and support new chief executive officer (and former David Jones CEO) Mark McInnes.
Moyan, who starts her role on July 1, will become Jay Jays group general manager, while Russell will join the company on August 1 as group general manager Jacqui E.
The Just Group, which is responsible for fashion brands such as Just Jeans, Portmans, Jacqui E and Jay Jays, has also recruited Martin Hourigan, former David Jones general manager non-merchandise procurement and former Centro executive Graham Terry. Both have already started their roles at The Just Group this month as general manger commercial and general manager property respectively.
McInnes said the calibre of the recruits is high and the appointments will spur a stage of growth for The Just Group.
“Today’s announcement signals
Premier’s ongoing commitment to accelerating the reinvigoration of
The Just Group and its stable of iconic Australian fashion brands,”
he said.
“Karen and Deanna will each have carriage of the
renewal of a specific brand from the Just portfolio, extending our
focus on individual brand ownership across our management team. They
both bring strong credentials in brand building, sourcing and
management of gross margin growth to the company. Martin and Graham
will be focused on achieving superior cost performance across The
Just Group.”
The company also said, following the appointment of Mr McInnes, Premier's business review was progressing and an update would be provided at the group's full year results.
As reported on Ragtrader.com.au, Premier Investments was less than impressed with the most recent results of its Just Group portfolio of retail brands, labelling results for the first half of 2010/11 as “disappointing”.
The Melbourne-headquartered firm, headed by retail stalwart Solomon Lew, revealed net profit after tax for the half year to January 29, 2011 was $39.4 million. This was down 7.1 per cent on the first half of 2009/10.
Just Group sales were $458.4 million, down from $472.7 million in the first half of 2009/10, with the strongest performing apparel brand in the half was pyjama retailer Peter Alexander.
At the time, the company said it expected The Just Group's earnings before interest, tax and amortisation (EBITA) for the full financial year to be in the range of $80 million to $85 million – a significant drop from the company's previous EBITA guidance of $100 million to $110 million.
Just Group operates over 950 stores and is home to seven brands, six of which are apparel retailers.