You are viewing your 1 free article this month. Login to read more articles.
Foyles' head of buying Kate Gunning is to leave the independent bookshop after a restructure of its middle management. Sam Husain, chief executive of Foyles, said that the "rationalisation" was prompted by a desire to "maximise efficiencies and reduce costs" during the "challenging economic conditions". Husain said he also wanted to give increased responsibilities to its three bookshop managers.
Foyles last restructured 15 months ago when both chairman Christopher Foyle and vice chairman Bill Samuel took non-executive roles. Vivienne Wordley had been made redundant as commercial director a month earlier.
In addition to Gunning's role, Gerald Baker’s position of product administration supervisor has also been made redundant. Husain said: "Whilst we are sad to lose someone of Kate’s experience and standing in the industry, we have no immediate plans to open new shops and, in the expectation of continuing challenging economic conditions in the year ahead, we need to look at our operational systems and maximise efficiencies and reduce costs wherever possible."
Two senior managers, Tom Nind, manager of Foyles at Westfield, and Eoin O’Reilly, floor manager at the flagship store on Charing Cross Road, will head up a new, centrally-based operations team. Foyles said that team would be tasked with reviewing the supply chain and improving procedures for ordering and management of stock.
Sion Hamilton will now become manager of the entire flagship store at Charing Cross Road. Simon Mackay, who has run Foyles St Pancras bookshop since its opening in February 2008, will take over the Westfield store. Susan Sinclair will take responsibility for management of the St Pancras bookshop in addition to her existing responsibility for Foyles at the Royal Festival Hall.
Buying responsibilities at Foyles are unaffected with central new title buying remaining under the control of senior buyer Jasper Sutcliffe. The central marketing team under Julia Kingsford has also been strengthened, with responsibilities now extended to developing and maintaining publisher relationships on promotional activities.
Husain added: "These management changes are planned to set the company on a course towards achieving sustainable profits in future years." In the year ended-30th June, Foyles increased its sales by more than 12% to £20.2m. Foyles' net operating loss reduced to £194,000, from the previous year's loss of £743,000.