Wilko news

Wilko has announced a new leadership team to drive strategic priorities. The changes see Dave Murphy become Chief Financial Officer, Amanda Jones promoted to Chief Operating Officer and Deborah Rabey joining as the Interim Chief Customer Officer. The news follows recent cuts to jobs within the organisation. CEO Mark Jackson said: “To deliver our strategic priorities, we must remain focuse...

A challenging 2022 has seen the discount retailer make a few changes in the new year. Securing financial funding Wilko has secured a £40m in funding to help turn around the business. According to Sky News, the company was warned last year it could run out of cash and that the loan has been obtained from Hilco UK, which owns names such as Homebase and Cath Kidston. The company has conf...

Wilko is reportedly in discussions with alternative lenders to secure a £30 million cash injection as it looks to navigate cost pressures in the buildup to Christmas. Wilko’s short-term financing plans According to the Sunday Times, Wilko is in talks with alternative lenders for an emergency loan of £30m as it deals with the cost-of-living crisis, rise in inflation and supply chain disru...

As Tesco and The Entertainer partner for toy concessions and Morrisons sets out its ambitions for the Morrisons Daily banner, we round up developments in the market. Tesco and The Entertainer partner for toy concessions A little time after Asda opened its Big Toy Shop , following the ending of its trial with The Entertainer, the latter has signed a partnership with Tesco to trial the add...

Wilko has appointed Karen Mackay as its new CFO, according to Retail Week. Who is Karen Mackay? Source: LinkedIn Karen Mackay's previous position was Group CFO at Optegra Eye Health Care, which she held for five years. Prior to this she held CFO positions in Nelsons and Specsavers. Mackay will replace Alex Russo who is now CFO at fellow variet...

Wilko's FY19 results reveal the 12 months prior to February 1st was a difficult period for the variety discounter. Declining profits and sales Pre-tax profit fell 65% to £11.4m from £32.5m Sales fell 6% to £1.5bn Like-for-like sales declined 6% Five new stores were opened and five closed, bringing the total stores to 416 These results follow on from a challenging FY201...

Wilko has appointed Jerome Saint-Marc to CEO, according to Retail Week. We look at this in more detail. Who is the new CEO? Source: LinkedIn Jerome Saint-Marc joined Wilko in 2018 as chief executive. Before joining Wilko he worked in Morrisons for nearly eight years in roles including group transformation director, supply chain director and developme...

Wilko has appointed the current CEO of Irish retailer Musgrave, Chris Martin as a non-executive director. Offering support as Wilko continues its business transformation Chris Martin announced he was leaving Musgrave in May, after being with the business for over 15 years. He will be replaced by Noel Keeley in January 2020. Before this he worked for Mothercare from 1999 to 2002...

Wilko's latest results reveal declining turnover but increasing profits for the variety discounter. Declining turnover Wilko has announced sales of £1.56bn for the year ending February 2nd 2019, a 2.3% year-on-year decrease according to Retail Week. This comes on the back of a very strong 2017 where sales were +7.1%. Wilko's store count is now 416 as it opened eight new stores in 2018, but ...

Wilko’s board reshuffle continues this week as we see further changes within the retailer’s senior leadership team, according to reports in Retail Week. Chief operating officer Sean Toal steps down Alex Russo, the chief financial officer and Andrew Moore, the chief commercial officer will split the role between them going forwards. Both Russo and Moore have previously had senior roles at As...