Adams ‘committed’ to Jessops
July 23, 2008
Jessops has confirmed that its executive chairman David Adams is still committed to the photography chain, following news that he has accepted a role at men?s clothing retailer Moss Bros.
Adams (pictured) will remain as executive chairman of Jessops and is ?committed to the company?, according to a spokeswoman.
He has been appointed a non-executive chairman of Moss Bros, according to press reports today.
Last week Jessops reported that like-for-like sales fell 5.7% in the 41 weeks to 13 July – leading the retailer to predict a higher than expected loss as the consumer spending downturn takes hold.
Sales plunged 11% in the final three weeks of the period, prompting the Jessops chairman to warn that the loss before tax will be worse than last year?s £7.5m figure.
Adams added: ?Against the background of a worsening retail environment, trading since 29 May has not improved going into the key summer period as anticipated based on prior years? experience.?
The sales news caused Jessops? share price to plummet. At the time of writing it stood at 4.56p.