Magazine article Marketing

Bhs Looks to Turn Tide under New Leadership

Magazine article Marketing

Bhs Looks to Turn Tide under New Leadership

Article excerpt

Philip Green has quite a task on his hands revitalising Bhs after his [pounds]200m takeover, reports Conor Dignam

When Marketing interviewed Philip Green last week, just 48 hours after he had acquired British Home Stores from Storehouse for [pounds]200m in cash, he seemed to have more questions to ask about the deal than we did.

"Until I get inside the business and understand a whole host of factors, I won't be doing anything," he said. "I haven't even sat down with the management yet."

Would the Bhs brand itself survive? Once again, no certainty, as Green is going to have a review of the operation from top to bottom. But, asked what he personally sees as the brand's main trouble, he replied: "It is not clear whom their customer is any more."

Takeover coup

Green is widely credited as the man who sorted out Sears. Many analysts believe he has pulled off a coup. For his money, he has acquired 155 Bhs stores around the country, making up more than four million square feet of prime real estate. The one thing he has committed himself to is keeping the bulk, though not necessarily all, of the stores. The company's 14,000 employees will be watching events with some concern about the future.

Green says it will not take "rocket science" to turn around the troubled retailer, but others doubt it will be a quick task. …

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