RETAILER TURNS TO ROBERTSON; LAURA ASHLEY HOPES EVANGELIST CAN HELP.Byline: Luara Board and Keith Campbell Keith Campbell may refer to:
Laura Ashley Laura Ashley CBE, (7 September 1925–17 September 1985) was a Welsh designer. She became a household name on the strength of her work as a designer and manufacturer of a range of colourful fabrics for clothes and home furnishings. Holdings Plc, a clothing and home-furnishings retailer known as much for its sliding sales as for its floral prints, has turned to Pat Robertson Marion Gordon "Pat" Robertson (born March 22 1930)[1] is a televangelist from the United States.[2] He is the founder of numerous organizations and corporations, including the American Center for Law and Justice (ACLJ), Christian Broadcasting Network (CBN), for inspiration. The company named the television evangelist a nonexecutive director and replaced its chief executive for the third time in 14 months, naming Kwan Cheong Ng, a Malaysian businessman, to replace Victoria Egan, who'd only been in the job five months. ``It's clear that the owners have decided the only card they can play is the divine-intervention card,'' said Richard Hyman Richard Hyman (b. August 6, 1951) is a British entrepreneur, and founder of Verdict Research, a United Kingdom-based company which conducts retailing research. , an analyst at Verdict Research Ltd. ``It's astonishing a·ston·ish tr.v. as·ton·ished, as·ton·ish·ing, as·ton·ish·es To fill with sudden wonder or amazement. See Synonyms at surprise. .'' The retailer, whose shares have dropped 93 percent in the past two years, is cutting costs and trying to sell more goods at full price, though its Christmas sales fell 14 percent. It returned to its traditional styles after failing to lure shoppers with more contemporary designs. Company Secretary Stephen Cox said Robertson was appointed for his knowledge of the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market. As a nonexecutive director, he will attend about half a dozen board meetings a year and won't be involved on a day-to-day basis. The shares fell 0.5 pence to 12p, an all-time low. ``Some shareholders think it's better to see it out to the bitter end to the last extremity, however calamitous. See also: Bitter , but why bother?'' said Matthew McEachran, an analyst at Henderson Crosthwaite. ``There can only be more trouble before there's an improvement.'' The company said Egan is quitting as chief executive for personal reasons. She follows David Hoare and Ann Iverson through the exit as sales continue to slide. Her successor, Ng, is an executive of Malayan United Industries Bhd., which bought 40 percent of Laura Ashley last May. He will take over Feb. 1. Laura Ashley described Robertson as a ``noted media pioneer, educator, philanthropist and religious broadcaster.'' It said he owns 2 million shares. He's also chairman of the Christian Coalition Christian Coalition, organization founded to advance the agenda of political and social conservatives, mostly comprised of evangelical Protestant Republicans, and to preserve what it deems traditional American values. , a conservative U.S. lobby group, and was a Republican presidential hopeful in 1988. Laura Ashley said same-store sales fell 11 percent in the eight weeks ended Jan. 16. Total shop sales fell 14 percent. In the 24 weeks ended Jan. 16, same-store sales fell 13 percent and total sales dropped 16 percent. Its gross margin has risen 3 percentage points from the year before since its second-half beginning Aug. 2, it added. Inventories are 10 percent lower than last year. CAPTION(S): Photo PHOTO (Color) Pat Robertson Tapped by Laura Ashley |
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