News blog
Theo Fennell
- BY: Andrew Hore |
- POSTED: 03/06/2011 |
Barbara Snoad is making her second exit from upmarket jeweller Theo Fennell.
She is leaving the company today. Snoad took over as interim boss at the end of March 2009, following the departure of the previous chief executive Pamela Harper. She was confirmed as chief executive in May 2009.
Theo Fennell will take over as managing director “for an interim period“
Snoad spent six years as managing director of Theo Fennell before leaving at the end of 2007. Her time at the head of the company has coincided with some of its most successful years and she helped the business to recover during the recession. However, recent trading was poor.
In January 2011, Theo Fennell released a trading statement saying that after a strong start in the first week of December trading was hit by the poor weather and like-for-like sales were 7% lower in December. That was mainly down to poor sales of one-off pieces. Seymour Pierce forecasts a £500,000 loss for the year to March 2011.
Sales of the Alias silver jewellery range continue to increase.
At 31p a share, Theo Fennell is valued at £7.05m.
Download the May 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFMay2011_20.pdf
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