Management shake-up for Danier as sales fall 10%
14/08/2014
It conceded the decline was due in to a lack of heavily-lined winter coats that would have met customer demand during the prolonged winter season.
The ice storms in Eastern Canada also reduced customer traffic to Danier's stores during the traditionally peak holiday selling season.
"We are disappointed by the results, particularly from the third and fourth quarters," said CEO Jeffrey Wortsman. "As previously disclosed, part of the plan involved significant changes to the senior leadership team who are being integrated into the business.”
Thomas Haig, who has been on the board for a year, has been hired to the newly created COO role and will report to Mr Wortsman.
Danier says it will place a greater emphasis on the leather quality, craftsmanship and heritage and grow its higher-margin accessories business to 50% of product.
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