Chief’s back-to-basics policy pays off at TJ’s

Jul 23 2008 by Barry Turnbull, Liverpool Daily Post

Chief’s back-to-basics policy pays off at TJ’s

PROFITS have soared at discount chain TJ Hughes, following a successful return to the business of chief executive Sue Tennant.

It took her just six months to turn poor pre-tax profits of £1.1m into a money-spinning £5.1m, following a back-to-basics programme.

The business owners, private equity firm Silver Fleet Capital, paid off former chief Robin Dickie last summer, and brought back Ms Tennant, who had left eight years previously to pursue roles with Ethel Austin and Rosebys.

She revamped the buying team, halted an expansion programme, and instilled traditional values back on the shop floor.

Ms Tennant said: “Business was down in the first six months, but we turned that round in the second part of the year, so it was quite a remarkable swing.

"I overhauled merchandising and got in some good experienced people who I have worked with before. I halted the stores roll-out programme and as someone who knows the business well, I made sure all our staff and the unions were with us all the way.