Retail 100 2020

3. Rishi Sunak 

Chancellor of the exchequer

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The highest placed new entry in the list, chancellor of the exchequer and Conservative MP for Richmond Rishi Sunak is one of the few MPs across the political spectrum who can be considered to have had a ‘good pandemic’.

After being thrust into the role of chancellor in a hurried cabinet reshuffle in February 2020, Sunak has since unveiled a raft of spending measures designed to prop up UK businesses in the face of the coronavirus onslaught.

Among the most pertinent to the retail industry was Sunak’s decision to suspend business rates for 12 months to alleviate pressure on bricks-and-mortar retailers forced to close stores during the lockdown.

His coronavirus interruption loan scheme for small and big companies has also proved a boon for many retailers, as has his measure to pay up to 80% of furloughed staff salaries until the end of July.

While trade bodies such as the BRC have argued that more needs to done by Sunak in the long term to fix the broken business rates system, what the chancellor has achieved in the past four months will convince many that he has retailers' interests in mind.

5. Lord Simon Wolfson

Chief executive, Next

▶︎ last year: 5

Lord Wolfson has developed a reputation as a retail oracle – his pronouncements and views typically seized upon by the industry as among the most perceptive.

He has provided some of the most thoughtful analysis of the retail landscape before and during the coronavirus pandemic – although he too was caught out by the ways in which the crisis developed.

Early on, Wolfson provided a detailed reading of the situation from a business perspective. The stress tests he elaborated were models as useful for others as they were to Next, but gloomy as they looked at the time, they proved too optimistic.

While Next is an online leader, it was among the first to shut its website because of concern about warehouse staff safety. However, online operations reopened within weeks, the retailer having made necessary changes to working practices.

Wolfson and Next continue to set standards for insights and executional excellence. As Wolfson said in April: “Our job is not to guess exactly how things will pan out but to prepare the company for all outcomes that seem reasonably possible.”

And, as they too consider future possibilities, retailers will continue to listen closely to Wolfson.

7. Simon Roberts

Chief executive, Sainsbury's

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Sainsbury’s new boss Simon Roberts rockets into the Retail 100 top 10 just weeks after succeeding Mike Coupe as chief executive.

Roberts has already made his mark at the grocer, having spent three years as retail and operations director, and during which he won plaudits for his people-first approach. Also in that role, former Boots boss Roberts oversaw sweeping changes to Sainsbury’s store operating model and has been at the forefront of its bricks-and-mortar response to the coronavirus pandemic. 

Sainsbury’s was among the first supermarket chains to introduce regular shopping hours for NHS staff, elderly and vulnerable people, and Roberts pressed ahead with moves to redeploy Argos staff into Sainsbury’s stores to cope with the spike in demand. Sainsbury's also leveraged its store portfolio to increase online collection points across the UK, including car-park collections, in its bid to help “feed the nation”.

Roberts might have a tough act to follow in the Sainsbury’s hot seat, but his pedigree and groundswell of internal support within the business will provide him a firm foundation.

9. Mahmud Kamani and Carol Kane

Founders, Boohoo

▲ last year: 27

Rising from 27th place to feature among the Retail 100 top 10, Mahmud Kamani and Carol Kane have overseen a vintage year at Boohoo, supported by new chief executive John Lyttle (who ranks at 43).

Boohoo reported a 54% jump in pre-tax profit to £92m in its last financial year and a 44% revenue increase to £1.2bn.

Under Kamani and Kane, Boohoo has made bold moves to broaden its appeal with the acquisition of the online businesses of Karen Millen and Coast in September 2019.

Such deals support their ambition for the group to lead the fashion ecommerce market, fuelling international expansion and brand awareness, and significantly increasing scale in the process.

Despite challenging times for the fashion market amid the coronavirus pandemic, conditions have demonstrated the inherent strengths of Boohoo’s businesses, particularly across its supply chain which, despite holding some 80,000 styles, has provided the flexibility to move production around and make orders at a moment’s notice.

After an initial drop in sales as the UK entered lockdown, Boohoo reported that performance subsequently bounced back and there was “improved year-on-year growth of group sales during April”.

With the coronavirus playing to Boohoo’s advantage, Kamani and Kane will no doubt oversee another stellar year for the business.

We can also expect Kamani to play a role in helping to control the virus itself as he prepares to launch an at-home Covid-19 testing kit through his separate business venture Medusa19.

11.  Paul Marchant

Chief executive, Primark

▼ last year: 4

For Primark chief executive Paul Marchant, this has been his toughest year.

Little more than 12 months ago, as Primark opened a Birmingham flagship, Marchant was proving once again that great value, great product and a great store environment could draw shoppers in droves. Primark does not trade online so its success was testament to the enduring appeal of consummate bricks-and-mortar retail.

A year on, however, and Primark’s reliance on stores made it one of the most high-profile casualties of lockdown – sales disappeared at the rate of £650m a week.

The retailer was protected by the financial strength of owner ABF, but nevertheless had to negotiate with landlords over rent.

After some initial criticism of its treatment of suppliers during the outbreak, Primark acted generously towards the overseas manufacturers that make its clothing and, in the end, set a good example.

With its stores reopening from June 15, Primark has promised to “come back with a bang”. That’s a pledge rivals can’t afford to take lightly. Whether it also decides finally to introduce an online proposition will be closely watched by the whole of fashion retail.

12. Archie Norman

Chair, Marks & Spencer

▼ last year: 11

When Marks & Spencer chair Archie Norman famously described the retailer as a burning platform back in 2018, he had no idea that all of retail would be engulfed in a bigger conflagration – the coronavirus pandemic.

Lockdown has meant M&S’ core fashion business has been effectively closed. Along with its peers, M&S had to secure liquidity to tide it over in the short term and work out how to rebuild business in the medium and longer terms.

This is a colossal challenge to add to those Norman and the M&S leadership were also attempting to navigate as part of the turnaround programme.

Norman has clearly encountered some inertia at M&S, and urging a culture shift he said the efforts of coalface staff were not always mirrored among elements of management.

He can look forward to one big achievement though – the launch of a joint venture with online grocer and tech platform Ocado, finally enabling M&S to sell its food online.

The partnership will go live in September and the hope is it will be transformational.

13. Doug Gurr

UK country manager, Amazon

► last year: 13

Doug Gurr has had a busy 12 months.

Industry speculation that Amazon would open its first Go store in the UK seemed to be proved right earlier this year, when plans to open a checkout-free shop in west London emerged.

The online titan’s stake in takeaway firm Deliveroo also secured hard won approval after undergoing intense scrutiny by the Competition and Markets Authority, and the business is gearing up to launch a UK grocery delivery service called Ultra Fast Fresh later this year.

However, these developments pale into insignificance in the face of Amazon’s response to the coronavirus crisis in the UK.

The ability to maintain ranges and delivery timeframes have impressed shoppers but arguably this has come at a price, with the safety of warehouse staff amid the outbreak in question.

In the coming months, Gurr’s role in managing Amazon’s UK reputation while fulfilling customer expectations may become more of a challenge.

14. Steve Rowe

Chief executive, Marks & Spencer

► last year: 14

Marks & Spencer chief executive Steve Rowe, along with chairman Archie Norman (ranked 12), was already engaged upon a programme to turn around the bellwether retailer when coronavirus struck.

The scale of disruption was evident when the pandemic prompted a further strategic rethink at M&S, with its ‘never the same again’ programme unveiled alongside full-year results in May. For the 52 weeks ending March 28, M&S reported that pre-tax profit fell by 21% down to £403m, while group revenues slipped 2% to £10bn.

Rowe seems determined to turn crisis into opportunity. Covid-19 has galvanised the retailer’s efforts to be relevant, evident in everything from its support for suppliers to staff pay during the outbreak and initiatives to support the NHS.

The sense of urgency may help M&S power-charge its wider transformation. Although some progress has been made, there is a long way still to go – particularly at the long-underperforming clothing division. Its revival is seen by many observers as vital in restoring M&S' fortunes.

Rowe famously described the turnaround as a marathon challenge, prompting wags to continually ask whether he "can see the Cutty Sark yet".

Coronavirus has not helped, but the launch of M&S food online with Ocado later this year will be a significant milestone.

15. Giles Hurley

UK and Ireland chief executive, Aldi

▶︎ last year: 15

Media-shy Aldi boss Giles Hurley has quietly gone about his job of growing the discounter’s UK market share.

Aldi achieved UK sales growth of 9% in April as shoppers continued to stockpile during the cornavirus outbreak, while a raft of new initiatives gave the supermarket extra appeal.

In a bid to better serve vulnerable and elderly customers, Aldi launched its first foray into online grocery delivery – offering ambient food parcels to such customers available from its website.

While Aldi had previously sold wine and some general merchandise lines online, its ability to scale up to offer more food deliveries during the virus is testament to the agility built into the organisation by Hurley. Since lockdown, Aldi has recruited an extra 9,000 staff.

Prior to the outbreak, Aldi had been pushing ahead with its store expansion programme, targeting 1,200 UK stores by the end of 2025. At the end of last year, it had significantly ramped up the rollout of its convenience format Aldi Local. 

With a 2020 Retail Week Awards win for Best Grocer under his belt, Hurley will continue to steer Aldi in its disruption of the established UK grocers this year.

16. Tim Steiner

Chief executive, Ocado Group

▼ last year: 6

Ocado’s co-founder and chief executive Tim Steiner has certainly had a year to remember, both highs and lows.

In many ways, 2019 saw Ocado complete what Steiner has often called its “20-year overnight success”, securing a £750m joint venture with Marks & Spencer and embarking on ambitious international deals with Coles in Australia and Aeon in Japan.

However, for all its successes, Ocado’s full-year results showed losses before tax spiralled to more than £215m, while EBITDA also slumped 27% to £43m, affected by factors including accounting changes, share scheme costs and the fire at its Andover depot last year.

Despite its profitability issues, Ocado remains a darling of the City and is one of the few innovative UK businesses that could be considered a global leader in its field.

Steiner’s relentless entrepreneurial ethic and boundless vision for the business saw him honoured as the Retail Leader of the Year at the 2020 Retail Week Awards.

During the coronavirus pandemic, Ocado ramped up capacity by about 40% domestically to meet the surge in demand for its home grocery delivery service and served more than 150,000 vulnerable customers from March to May.

With its first international customer fulfilment centres going live earlier this year, 2020 looks to be another year of growth for Ocado under Steiner’s tenure.

17. Dame Sharon White

Chair, John Lewis Partnership

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Dame Sharon White has had a baptism of fire since becoming chair of the John Lewis Partnership in February.

Her predecessor, Sir Charlie Mayfield, was widely seen as having delivered a hospital pass on his way out, after unveiling radical restructuring at the department store and Waitrose grocery group that resulted in the departures of some of its most experienced leaders.

White has played a deft hand, focusing primarily on listening to partners and getting under the bonnet of the retailer but making clear that change is to come.

Such change might include abandoning key elements of the Mayfield plan, such as giving each business more autonomy than envisaged by her predecessor who was determined to wring out synergies from the pair under a unified structure.

On top of needing to sort out what many in retail believe to be a bit of a mess, White joined just as the pandemic was about to bring Britain to a near stop and must address its impact.

White, who formerly ran regulator Ofcom, has accelerated a strategic review at the partnership. The findings will be revealed later this year, no doubt influenced by former McKinsey partner Nina Bhatia, who also joined the retailer in February as strategy and commercial development director, and who is mentioned in this year's 'ones to watch' section.

18. Mike Ashley

Chief executive, Frasers Group

▼ last year: 3

It has not been a vintage year for notorious retail entrepreneur Mike Ashley, who has fallen 15 places in the ranking.

Ashley is known for his outspoken nature, but several missteps have invoked ire from many quarters. These have included Sports Direct’s recent plea to keep stores open during the pandemic despite being classified as a non-essential retailer by the government and accusations by some store managers that they were being made to work despite being furloughed.

Ashley apologised for the former but, nevertheless, such moves put him out of step with the public mood.

Ashley has faced scrambling to find a new auditor and a Belgian tax bombshell during the year and, while both issues have been rectified, they are perhaps indicators of a less than slick operation.

The group posted a 22% rise in underlying EBITDA to £181m at the half-year mark in December and is still pursuing its elevation strategy. However, it has flagged that progress on that front is slower than anticipated because of an unenthusiastic response from some big-name brands.

Ashley’s bombastic style is legendary, but he will need business sense and an understanding of public sentiment if he is to regain ground.

19. Alex Baldock

Chief executive, Dixons Carphone

▼ last year: 16

After two years at the helm of Dixons Carphone, Alex Baldock’s strategy overhaul is beginning to take shape, but it still has a way to go.

Group sales were down 0.9% to £10.4bn and pre-tax profits down 22% from £382m to £298m last year, on the back of challenging conditions in the UK across electricals and mobile, particularly the latter.

In March 2020, the business announced the closure of all Carphone Warehouse stores in a bid to streamline its store estate and focus on a three-in-one concept.

Speaking of the decision, Baldock admitted the changes made for “a painful and difficult day for the business”, particularly amid the coronavirus situation, but insisted that the strategic shift was “an essential one to set us up for long-term success”.

Baldock has also continued to merge online and offline worlds in response to changing customer behaviours in lockdown. With stores reopening from June 15, it will feature a zero-contact model including a drive-thru concept and ShopLive, a video shopping service.

While Dixons Carphone has managed to recover two thirds of its lost store sales online, Baldock needs a solid post-pandemic strategy to keep the business on track.

20. Richard Walker

Managing director, Iceland

▲ last year: 23

While the past year hasn’t been without challenges for Iceland, it has marked the period in which Richard Walker – son of Iceland founder Malcolm – stepped out from his father’s shadow and became the face of the frozen food specialist.

His articulate views on Brexit on BBC’s Question Time in March 2020 won national press coverage and Walker has used his platform to bring attention to Iceland’s goals around the use of palm oil and its sustainability efforts – in July 2019, Iceland became the first grocer to ban the use of plastic bags outright.

During the pandemic, Walker has continued to be a voice for the industry and praised retail staff for their efforts, commenting that “coronavirus has brought out the best in retail”. Iceland was the first retailer to implement dedicated store hours to help elderly and vulnerable shoppers, a practice that has since been replicated by all the grocers.

Last year Iceland also expanded its store estate under Walker’s direction, with a focus on its Food Warehouse fascia. It opened its 100th store in Blackpool and continues to be one of the UK’s fastest growing retailers by number of new store openings.

31.  Peter Jelkeby

Country manager UK and Ireland, Ikea

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Peter Jelkeby was appointed to head Ikea’s UK and Ireland arm in May 2019, following Javier Quinones' move to lead the US division.

Jelkeby has spent more than 20 years with Ikea, working for the retailer in Sweden, Russia and Vietnam, as well as the UK and Ireland.

On his appointment, Jelkeby said he was ready to “respond to the changing needs of our customers to secure an Ikea that is affordable, reaches more people, delivers excellent customer experience and is truly people and planet positive”.

With UK sales up at £2.1bn for 2018/19 driven by its stores and online propositions (accounting for 19% of sales), Jelkeby has been tasked with developing the retailer’s multichannel capabilities and improving in-store experiences.

While the pandemic shuttered its store estate, the crisis has helped the retailer accelerate transformation plans. In April, Ikea acquired AR start-up Geomagical Labs in a bid to drive shoppers to purchase more big-ticket items without visiting a store.

Promoted from 'one to watch' in the Retail 100 2019, the coming year will see Jelkeby put his years of experience into play.

32. Theo Paphitis

Chief executive, Theo Paphitis Retail Group

▶︎ last year: 32

It has been a mixed bag for Theo Paphitis and his trio of brands – Ryman, Robert Dyas, and Boux Avenue – over the past year.

During the six weeks to December 24, the group’s like-for-likes slipped 1.3%. There was a positive performance at Robert Dyas, Ryman was flat and Boux Avenue was down.

In February, Paphitis appointed advisers from Deloitte to discuss a potential restructuring process for Boux Avenue that would result in store closures. This followed a trading update in January when Paphitis said Boux Avenue was paying “above-average” rents while other retailers had been able to “completely realign their rental cost base, often through CVAs”.

At the time, Paphitis said he was focused on addressing Boux Avenue’s “cost base, in particular our rents, as well as addressing the appropriate mix of channels to match the changing needs of our customers”.

The pandemic shuttering Boux’s store estate will have brought these areas into even greater focus for Paphitis, but there may be a silver lining – while its latest results are yet to be published, general UK lingerie sales were reported to be up 66% during lockdown.

33. Jo Whitfield

Chief executive, Co-op Food

▲ last year: 37

The Co-op’s food business continues to be the pillar on which the wider business can rely for growth.

In April, the Co-op enjoyed the biggest overall growth of all the grocers in terms of sales – up 20% – while its market share growth topped out at 7%.

Before the coronavirus crisis struck, Whitfield’s convenience store empire had been growing steadily and she had led the retailer into burgeoning food trends, including launching the Co-op’s own-brand Gro vegan range in January.

During the pandemic, the Co-op has been focused on increasing its online delivery capacity, spearheading tie-ups with delivery app Deliveroo, as well as experimenting with its own Co-op.com delivery services.

To meet demand, the Co-op has bought on around 5,000 new employees and has focused its recruitment on people whose previous jobs in the food and beverage and hospitality sectors were decimated by the outbreak. 

Showing community retail at its best, the Co-op ploughed £600,000 into local food banks across the UK and has donated £1.5m worth of food to charity FareShare.

Awarded the prestigious Veuve Clicquot Business Woman Award in 2019 in recognition of her contribution, Whitfield has led the grocer skilfully.

34. John Roberts

Founder and chief executive, AO.com

▶︎ last year: 34

Returning to lead AO.com in February 2019 after a two-year hiatus, John Roberts is keenly focused on developing the retailer’s product ecosystem and fleshing out its offering.

Group sales growth remained solid over 2018/19 with an increase of 13% to £903m, but AO’s profit struggles have deepened recently. Group pre-tax losses for 2018/19 increased to £19m, impacted by driver legislation changes in Germany and lower product margins in Europe.

However, Roberts has played his part in improving AO’s UK arm with pre-tax profits up £400,000 to £14m in 2018/19 and Roberts is overseeing new launches to improve performance.

In the past year, the AO boss has piloted a white goods rental scheme and launched a mobile division – AO-mobile.com – throwing down the gauntlet to the likes of Dixons Carphone.

Roberts has also been giving back to local communities and his commitment as chair of Onside Youth Zones – safe, affordable and inspiring places for young people – saw him crowned Retail Activist at the 2020 Retail Week Awards.

While he’s asserted that his comeback “is not the John Roberts roadshow”, his leadership is certainly helping to breathe new life into AO.

In May, Roberts commented: “In terms of online shopping behaviour, I believe we have seen five years accelerate into only five weeks and we will plan to cement that change” – and even if this statement is somewhat exaggerated, Roberts’ business stands to be a big beneficiary from the crisis.

35. John Allan

Chair, Tesco

▶︎ last year: 35

Tesco chair John Allan this year shouldered responsibility for the biggest decision at Britain’s biggest retailer – who should succeed Dave Lewis as chief executive.

The surprise departure of Lewis, who was lauded for restoring Tesco’s fortunes in the wake of a profit warning of titanic dimensions and an accounting scandal, was unwelcome news to Tesco investors. And it was ultimately Allan’s role to ensure a smooth succession, in contrast to the wrong choice made by his predecessor, which was a big contributor to the crisis at Tesco.

Allan gave his approval to the appointment of former Walgreens Boots Alliance director Ken Murphy, who will start later this year.

As well as overseeing Tesco’s governance and changing of the guard, Allan has been busy in his role as president of business body the CBI. He has frequently appeared in the media to discuss wider business concerns such as Brexit.

36. Trevor Strain

Chief operating officer, Morrisons

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A new entry, Trevor Strain has surged into the Retail 100 following a year in which his influence at Morrisons has grown.

A former Tesco director, he was promoted from his previous Morrisons role as chief finance officer to chief operating officer last December, with an extensive remit that includes commercial, manufacturing, supply chain, logistics, operations development, online and wholesale.

Strain has played a central role in Morrisons’ turnaround and has led in building £1bn wholesale business from scratch, by making better use of the grocer's unique vertically integrated model.

Strain has also been at the heart of the supermarket chain’s impressive coronavirus response. The Bradford-based grocer was the first to introduce food parcels and rolled out a click-and-collect food box service from hospital car parks to give NHS staff easy access to essential groceries at the height of the pandemic.

In another first, Morrisons launched a telesales grocery shopping service for elderly and vulnerable customers who may have struggled to shop online in the traditional way. 

The heir apparent to Morrisons boss David Potts, it might not be too long before Strain bags himself another promotion.

37. Carlos Crespo

Chief executive, Inditex

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Carlos Crespo makes his Retail 100 debut after being promoted from chief operations officer to chief executive last May by executive chairman Pablo Isla.

Crespo originally joined Inditex – owner of Zara, Pull & Bear, Bershka and Stradivarius – in 2001 in auditing. His background and knowledge will help uphold the business’ standing as the world’s largest fashion company with 7,420 stores in 96 countries.

While Isla has handed responsibility of Inditex’s technology, data, logistics and sustainability over to Crespo, the pair are now jointly responsible for defining the company’s global strategy.

Already the new strongman has overseen a solid performance. In March 2020, the retailer generated an 8% rise in net sales to $28bn (£22bn) and like-for-likes climbed 6.5%. Inditex said it had decided to recognise an inventory provision of €287m (£256m) in the wake of coronavirus. That meant that net profit was up 6% to €3.6bn (£3.2bn). Without the provision, profits would have climbed 12% to €3.8bn (£3.4bn).

Crespo was also set to be putting the wheels in motion for Inditex’s digital store strategy, but these plans have been paused after the pandemic shuttered the group’s estates.

As shops gradually reopen, Inditex’s global footprint should help it cope better than some and Crespo’s years of experience will make him an asset in getting operations back to normal capacity.

38. Roger Whiteside OBE

Chief executive, Greggs

▲ last year: 64

Up 26 places on 2019, Roger Whiteside has achieved another highly successful year at the helm of Greggs and, perhaps buoyed by the triumph of the baker’s vegan products, he has embarked on a meat-free diet.

Greggs reported a strong rise in full-year profits, with a 27% jump in pre-tax profit excluding exceptional items to £114m in the 52 weeks to December 28, 2019, as sales rose 14% to £1.2bn. The food-on-the-go specialist also launched 97 new stores during 2019, bringing its total to 2,050.

Greggs’ six-year transformation is now almost complete, and Whiteside – who has proven his ability to see where consumer trends are going and to move with the times – is now looking to push through his 'Next Generation Greggs' strategy. This includes partnerships, drive-thrus, seats in-store, click and collect and customisable food.

Whiteside had begun to action this by rolling out Greggs’ delivery partnership with Just Eat, but orders had to be halted owing to coronavirus and, in April, the brand was forced to access £150m in new finances through the government’s corporate financing scheme.

Whiteside shouldn’t have trouble getting the baker back on its feet. Demand has remained high; Iceland reported sales up 42% of its Greggs branded products during Covid-19 crisis.

39. Carl Cowling

Chief executive, WHSmith

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Carl Cowling took the group helm at WHSmith in November 2019 after long-term boss Steve Clarke stepped down.

Cowling is steering the business at a time when sales and profits are on the ascent – overall sales were up by 11% to £1.4bn in the 2018/19 financial year, with group profits up 3% to £135m.

Cowling knows WHSmith inside out, having spent the past four years heading up the retailer’s buoyant travel division and more recently its high street operation.

Cowling has extensive knowledge of the wider retail sector, too, having held several senior roles at major retailers including Dixons Retail and Carphone Warehouse.

It remains to be seen whether Cowling’s appointment marks a change in the retailer’s cost-cutting strategy, which has been the order of the day at WHSmith for as long as can be remembered. This strategy involves putting “creating value for our shareholders” at the top of its priority list by improving profitability and cash flow and delivering sustainable returns. 

However, in the short term, the coronavirus outbreak has forced Cowling to focus on shoring up its balance sheet with the business, particularly its travel arm, having experienced a “significant impact” from coronavirus. The majority of WHSmith’s high street shops have also been closed temporarily, with only the 203 stores that house Post Offices and its 140 stores inside UK hospitals remaining open.

To steady the business through the ongoing crisis, Cowling announced in April that the business had raised £165m through share-placing. Cowling himself bought more than 7,000 shares.

40. Will Shu

Founder, Deliveroo

▲ last year: 56

Tech titan Will Shu has endured a tumultuous year.

Under his leadership, the food delivery specialist has evolved its model from simply partnering with restaurants to collaborating with retailers. In the past year or so, Deliveroo has inked deals with retailers such as Morrisons, McColl’s and Marks & Spencer, and has deepened its existing ties with names such as Co-op on grocery home delivery.

Such partnerships are yet to benefit the bottom line, but the tide could be about to change after Shu led a tie-up with Amazon through Competition and Markets Authority scrutiny earlier this year.

In April, the CMA passed the deal after concluding that Deliveroo, despite being “a highly successful company”, would “not be able to meet its financial commitments and would have to exit the market” without Amazon’s investment.

The verdict highlighted how Deliveroo, a highly innovative business, could have gone, in the blink of an eye and through no fault of its own, amid the coronavirus crisis.

Now, with the financial backing of one of the world’s biggest retailers behind it, Shu has allayed fears of going bust and will be using the £450m investment to fund better service for customers, develop new innovations and offer customers greater choice.

51. Matt Moulding

Chief executive, The Hut Group

▼ last year: 50

It has been a stellar year at The Hut Group for chief executive and executive chair Matt Moulding.

The entrepreneur has led the business at pace, including delivering a 31% boost in EBITDA to £91m in the year to December 31, 2018, driven by a 24% surge in group sales to £916m. The highly acquisitive online retail group has wooed investors with its expansion ambitions and technological prowess and secured £1bn in its latest funding round in December.

The Hut Group was set to open its first bricks-and-mortar store in Manchester this year, but it is likely that coronavirus will have put those plans on hold for now.

Not one to be deterred from innovating, Moulding has instead responded to the global pandemic by snapping up two cargo planes for the launch of ‘THG Air’ to better facilitate its global distribution networks amid supply chain disruption.

Moulding also launched a £10m coronavirus aid package to support vulnerable communities, key workers and emergency services. Moulding said that The Hut Group “has an obligation to support those in need, not only as a major regional employer but because we have the ability to do so".

52. Stuart Machin

Managing director, M&S Food

▲ last year: 54

In the past year, Marks & Spencer food supremo Stuart Machin has overseen a raft of initiatives that have helped the retailer stoke shopper appetite for its famous fare.

While maintaining a reputation for quality, Machin has gone some way to countering perceptions that were a drag on performance, such as 'expensive' or 'limited range'.

Better communication on price and assortment has been accompanied by, and built upon, pilot food hall formats with in-store theatre and other innovations, such as a vertical farm in Clapham and a specialist fresh pasta concession in Southampton’s Hedge End.

Later this year Machin will hope to make a similar impact on ecommerce, as M&S’s joint venture with Ocado will at last enable the retailer to sell its food range online. Machin will be preparing for a showdown with Waitrose, Ocado’s former partner, which is determined to further build its own online operations in response.

53. Tracey Clements

Chief operating officer, Boots

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Tesco veteran Tracey Clements joined Boots in the newly created role of chief operating officer in March 2019, taking responsibility for UK store operations and supply chain, as well as P&L for the Boots business in the Republic of Ireland. 

Clements brings a vast array of experience to the health and beauty retailer. She started her Tesco career as operations development manager in 2002, before working her way up through roles including operations development director and customer strategy and insight director.

Her knowledge and skillset will no doubt have proved invaluable in supporting Boots managing director Seb James in driving UK strategy forward and, most recently, navigating the coronavirus pandemic. 

Prior to the outbreak, Boots had been increasing its technology investments and revamping store formats with new beauty halls and brands but, amid the coronavirus crisis, the retailer announced it was “proactively deferring certain activities”.

Instead, Boots has focused its operations on supporting the country’s efforts, including joining forces with the government for its testing drive for frontline NHS staff and recruiting 500 additional delivery staff to meet prescription demands.

As the retailer plans for its post-pandemic future, Clements will be a key influence.

54. Anne Pitcher

Managing director, Selfridges Group and Selfridges UK   

▼ last year: 52

Anne Pitcher will be leaning on her wealth of experience in the department store sector to help weather the storm facing retailers as a result of the pandemic.

Having worked for various arms of the business since 2004 – and made managing director of the wider group in February 2019 – Pitcher has been a key figure in the transformation of the department store chain into a luxury fashion and beauty-led business.  

With UK boss Simon Forster unexpectedly exiting in February this year, Pitcher has taken over his responsibilities until a permanent successor can be found. 

Based on sales density figures corroborated by the retailer, Retail Week Prospect estimates that recent online sales accounted for 12% of total group sales.

Having invested heavily in its stores in the past year, including opening the world’s first permanent department store cinema at its Oxford Street flagship, the coming months will be crucial for Pitcher’s legacy.

55. Julian Richer

Founder, Richer Sounds

▼ last year: 39

Last year’s winner of Outstanding Contribution to Retail at the Retail Week Awards, entrepreneur Julian Richer has continued to push the importance of ethical business this year.

However, having stepped back from the day-to-day running of the business, Richer drops down in the Retail 100 ranking.

He has thrown his weight behind Zero Hours Justice, a campaign and advice service with the aim of "ending the enforced imposition of controversial zero hours contracts". He believes they are bad for business and society and is working with the TUC to consign them to history.

It is the latest initiative from a retail leader who has consistently argued that treating people well sits at the heart of business success, and whose influence has been brought to bear on other retailers, including Marks & Spencer where he is an advisor. Last year Richer handed control of his business to its employees, through a workers' ownership trust. 

As ethics and reputation rise up retail’s agenda, Richer has blazed a trail for others to follow.

56. Alessandra Bellini

Chief customer officer, Tesco

▲ last year: 70

Alessandra Bellini has played a substantial role in Tesco’s recently completed five-year turnaround, since joining as chief customer officer in 2017.

With her customer-centric remit, she has spearheaded a series of initiatives, including the overhaul of own-brand and the launch of Clubcard Prices promotions to mark the grocer’s centenary in 2019.

Speaking to Marketing Week in February 2020 Bellini told the publication that keeping things simple had been at the heart of her success. 

She said: “I love the fact I work on simple products that seemingly don’t matter; the everyday things that impact people’s lives.”

Bellini’s fascination with consumer essentials and proven intuition for customer sentiment should serve Tesco well during the pandemic, when shoppers have little time for luxuries. 

Indeed, the grocer’s agile response to Covid-19 has focused on what the country most needs – from feeding people nationwide, to pop-up shops at NHS Nightingale sites and a £30m charitable pledge. 

57. Peter Macnab

Chief executive, AS Watson Health and Beauty UK

▲ last year: 71

Having spent 13 years in senior roles for AS Watson UK – owner of Superdrug and Savers – Peter Macnab is cementing his tenure this year.

Under his leadership, AS Watson Health and Beauty UK has accelerated innovation and taken action to support its staff.

The retailer ramped up its introduction of cloud technology for ecommerce – initially due in late 2020 – and by April had implemented it across the business to meet online demand. That same month, it reported that implementation at Superdrug had enabled the business to facilitate 50% more orders per day.

The health and beauty giant also launched a £40m coronavirus staff support package to ensure full pay for parents unable to work remotely or in another business position and full pay for anyone unable to work owing to sickness or self-isolation.

Macnab said the support package gave financial reassurance to staff “working very hard to keep our stores open and to ensure customers’ online purchases are delivered”.

Pre-Covid-19, Macnab was credited for transforming the Superdrug business with solid like-for-like growth restored and strengthened margins. Post-pandemic, he will no doubt be credited for his effective crisis management.

58. Henry Birch

Chief executive, Shop Direct

▼ last year: 53

It’s been a bracing year for Henry Birch as chief executive of online retailer Shop Direct.

On one hand, he has made strides in building his executive team after a deluge of management exits prior to his arrival in 2018 – poaching Clarks finance boss Ben Fletcher for the chief financial officer role and snapping up Boots own-brand boss Guy Farmer as trading director. 

But on the other, Shop Direct owners the Barclay brothers were understood to be exploring a possible sale of the business late last year amid a consolidation of their eclectic asset pile. The online retailer ended up securing increased financing from its owners after a mooted sale never materialised and it unveiled a rebrand as Very Group in January. 

Plans to unveil a new state-of-the-art warehouse and ramp up operations following the rebrand appear to have taken a back seat during the coronavirus disruption, but the year ahead could be critical for Birch. 

The industry will watch to see how he makes good on his plan to drive business growth in a new post-pandemic environment.

59. Mark Constantine

Chief executive, Lush

▼ last year: 58

Lush’s co-founder and chief executive Mark Constantine has had an industrious year. 

Under his guidance, the ethical beauty retailer has been hailed for its eye-catching and experiential stores, and over the past year has innovated at a breakneck pace. 

Shortly after unveiling its biggest ever store in Liverpool, the retailer opened a state-of-the-art tech-fuelled Tokyo flagship. New format stores include a perfume library in Italy and a florist-inspired fresh cosmetics emporium in Paris shortly followed. 

Lush has also rolled out its Naked store concept – which only sells zero-packaging products – and unveiled a corresponding Lens app that allows shoppers to check the ingredients of products by scanning them with their smartphone. 

Constantine told Retail Week he would consider snapping up empty properties vacated by struggling chains such as House of Fraser and Debenhams to develop more "department store style" Lush outlets. However, his store strategy has impacted the retailer’s bottom line and pre-tax profit slumped 68% to £23m in its last reported financial year. 

As its bottom line takes a further hit amid the coronavirus pandemic, the decisions Constantine takes about Lush’s store estate will help define his legacy, as will his commitment to environmental and ethical causes which are likely to contribute to the retailer's enduring appeal.

60. Mike Logue

Chief executive, Dreams

▲ last year: 61

Mike Logue has more than proved his mettle as chief executive of bed specialist Dreams since joining seven years ago, when the brand was in a dire state.  

Orchestrating a dramatic turnaround, Logue has taken Dreams from administration to a growing, profitable business in a super-competitive market amid challenging economic conditions. 

The retailer has notched up sales and profit growth for five consecutive years, with the latest recorded sales up 3% to £309m in the year to December 24, 2018. 

With a successful transformation under his belt, Logue has set his sights on catering to the consumer of the future, with increased focus on ecommerce to better align clicks and bricks and store expansion. For instance, to compete with start-up rivals such as Eve and Casper, Dreams created Hyde & Sleep, its own mattress-in-a-box brand.

With coronavirus shuttering all Dreams stores, Logue took the opportunity to review strategy and is accelerating digital initiatives. He has shown himself to be forward-thinking in the harshest of trading environments.

71. Deirdre O'Brien

Senior vice-president of retail and people, Apple

▲ last year: 72

Apple’s long-serving HR boss Deirdre O’Brien took over from Angela Ahrendts in April 2019 and expanded her role to become senior VP of retail and people.

O’Brien’s remit, as described by Apple, involves “enriching the lives of millions of Apple customers every year” while helping to “connect, develop and care for its employees”.

Her customer and people strategy has really shone in the retailer’s response to the Covid-19 outbreak. In March, before UK lockdown came into force, Apple sent a signal to the market by shutting all its stores outside China for two weeks to help limit the spread of the virus.

Apple also further prioritised its customers, employees and suppliers by announcing in March that it was committing £12m to “help with worldwide recovery".

The company has retained its appeal during the pandemic too; posting revenue of $58bn (£46bn) for the second quarter ending March 28 – up 1% on the previous quarter. Apple also reported record services revenue and a quarterly revenue record for its wearable devices. As a 30-year Apple veteran, O’Brien is well placed to continue to fuel the tech titan’s retail power.

72. Richard Pennycook

Chair, Retail Sector Council and 2 Sisters

▼ last year: 30

Richard Pennycook has rejigged his portfolio of interests this year, stepping back from some high-profile roles and adding new ones.

Pennycook handed over his position as BRC chair, which he had held for two years, to former Asda chief executive Tony DeNunzio. And he stood down as chair of department store group Fenwick, along with chief executive Robbie Feather, as the retailer’s founding family members assume greater control to steer it through the coronavirus crisis.

He also attempted to find new ways to address the perennial problem of business rates on the government’s Retail Sector Council, although finding a solution proved elusive.

Pennycook will not be disappearing from the retail scene though. Earlier this year he became chair of food supplier 2 Sisters and, as the retail and leisure industries grow closer, he remains chair of online travel agent On the Beach.

Famous for his role in saving the Co-op, Pennycook is likely to remain influential in retail over the coming year.

73. Federico Marchetti

Chairman, Yoox Net-a-Porter

▼ last year: 48

Federico Marchetti stepped aside as chief executive to become Yoox Net-a-Porter (YNAP) chairman in March 2020 to support owner Richemont in its turnaround efforts to make the company profitable.

Marchetti is a YNAP veteran, having led fashion retailer Yoox since it launched in 2000, and then taking the reigns as YNAP boss after Yoox merged with Net-a-Porter in 2015.

With 4.2 million active customers in 180 countries, YNAP is a global fashion behemoth but the group has been struggling recently. It fell short of its €4bn (£3.6bn) revenue target this year, reported its weakest profit margin in a decade, and Marchetti failed to get a new technology and logistics platform migration off the ground in 2019.

While its bottom line is taking a hit, Marchetti’s steer in the retailer’s response to the pandemic has been valiant and has demonstrated a commitment to community and customers.

In March YNAP offered out the group’s premier delivery services fleets to support charity partners across London, New York, Milan and Hong Kong in delivering essential supplies to vulnerable communities.

In May, the group stepped up its efforts, delivering more than 3,000 items of PPE to front-line hospital workers and donating some 2,200 care packages to NHS staff.

74. Sir Philip Green

Owner, Arcadia Group

▼ last year: 59

He may be down, but Sir Philip Green is not out.

While it would be an understatement to say the past year has not been Sir Philip's finest – with slumping sales, a £177m loss, store closures, and a damning entry in the 2019 Sunday Times Rich List that valued his group as “worthless” – Green’s leadership of Topshop and recent attempts to maintain the retailer’s presence on the high street mean that all eyes are on him.

In June 2019, Green managed to save his fashion empire – which owns Topshop, Topman, Dorothy Perkins, Evans and Miss Selfridge – from administration by securing a £50m rescue deal that triggered the closure of 48 stores and 1,000 jobs. Once the plan is in place another 25 stores and 500 jobs will be axed.

In recent months, the coronavirus crisis has tightened the screw, with more than 100 stores expected to permanently close by the end of August.

Green was met with a public backlash in March after appealing for taxpayer help as he furloughed 14,500 of the group’s 16,000 employees.

While the businessman continues to stir up controversy, the industry will be watching Green closely over the coming months to see if he can maintain his Arcadia empire. If he can weather this storm it will say a lot for the future of the high street and its survival in the post-pandemic landscape.

75. Karen Hubbard

Chief executive, Card Factory

▶︎ last year: 75

The only female boss in a top FTSE job, Karen Hubbard is spearheading expansion as chief executive of the UK’s largest specialist greetings card retailer.

In November 2019, Hubbard led on the retailer’s tie-up with Aldi – opening a new channel to reach customers – and by the close of the year had achieved the brand’s goal of expanding at an annual rate of 50 shops, with 51 new Card Factory stores opened.

For its 2018/19 financial year, the retailer posted a 56% jump in online sales and “best in class” EBITDA margins, however pre-tax profit had dropped to 8% due to foreign exchange and national living wage headwinds.

Hubbard’s growth streak has continued in 2020, even during the coronavirus crisis. While stores remain closed and 90% of its workforce are furloughed, the retailer reported in May that online sales had rocketed by 268% since the beginning of UK lockdown.

In response to this increased demand, and to support social distancing, Card Factory has established a second fulfilment unit in Wakefield. Hubbard has also overseen the launch of the Card Factory Foundation, a relief fund for colleagues experiencing financial hardship.

As the UK lockdown eases, Hubbard will leverage her experience in the value arena to coax consumers back to stores.

76. Jason Hargreaves

Chief executive, Matalan

▼ last year: 63

Chief executive since 2013, Jason Hargreaves is leading his family-owned fashion and homeware business in what the retailer has called the most “difficult and unpredictable time” in its 35 years of trading history.

In January 2020, the retailer had achieved an uptick in sales during its peak trading period, with sales of £134m for the five weeks to January 4 up from £134m for the same period the previous year.

However, in May it was reported that Matalan was seeking £50m to help it survive through the coronavirus pandemic after temporarily shutting 232 stores. While it had reported a “healthy level of liquidity” prior to the pandemic, Matalan said it was forced into “drawing down fully against existing revolving credit facility having never before done so”.

But operating in a tough climate isn’t new for Hargreaves and he’s well positioned to lead Matalan through this turbulent period – he had achieved two consecutive years of increasing sales with total sales up 4% to £1.1.bn in 2018/19.

At the start of the year, Hargreaves said it was “more important than ever to evolve and to be agile” for the retailer to progress its strategy. The billionaire businessman will be living by these words in the months to come.

77. Emily Weiss

Founder and chief executive, Glossier

NEW ENTRY

Emily Weiss makes her debut in the Retail 100 following a strong year for her cult beauty brand Glossier.

American Weiss is transforming how consumers purchase make-up by selling directly to them through social media – the brand currently has 2.8 million followers – and bypassing traditional retailers.

This direct-to-consumer model has certainly struck a chord with shoppers – all three million of them. Last year Glossier closed a $100m (£79m) series D funding round led by Sequoia Capital that valued the company at $1.2bn (£949m), a milestone for Weiss who launched the business in 2014 aged just 29.

The brand has also accelerated its international strategy. With two permanent stores in New York and Los Angeles and pop-ups across the US, in November last year Weiss brought Glossier to the UK with its first London pop-up. In January Glossier revealed it would be keeping the store open until December following an “overwhelmingly positive response from shoppers”, with more than 100,000 visitors and “the highest average daily sales of any of its pop-ups”.

While Covid-19 has paused bricks-and-mortar activity, Weiss has pivoted quickly and, in April, announced the launch of a new beauty product, Glossier’s first ever hand cream with a split of sales proceeds going to healthcare workers.

78. Graham Bell

Chief executive, B&Q

▼ last year: 73

Kingfisher veteran Graham Bell is focusing his efforts on investing in digital and boosting multichannel as B&Q battles stagnant sales.

The DIY giant has continued to struggle with sales growth against a backdrop of difficult market conditions in the UK and France, although encouraging online figures have provided some hope.

In 2018/19, the retailer achieved a 42% jump in click-and-collect sales following the rollout of its one-hour service, while mobile sales were up 44%. However, its digital business accounted for just 5% of B&Q’s UK sales in 2018/19 so Bell has work to do.

B&Q also suffered a Covid-19 hit after initially closing all stores and offering only essentials online in response to the pandemic. For the three months to April 30, its sales plummeted 22% to £663m.

Having now reopened its 288 stores, with social distancing measures in place, Bell will be leading the retailer in a bid to shore up sales.

With so much scope for digital expansion, developing B&Q’s online offering seems to hold the key to the brand’s turnaround – making Bell, with his multichannel learnings from heading up Screwfix, the right person for the job.

79. Chris Dawson

Founder, The Range

▼ last year: 74

Chris Dawson has weathered a turbulent few years as he labours to grow The Range to his ambitious target of 600 stores from just over 175 outlets.

After the retailer’s potential IPO was nixed due to “crap” market conditions, pre-tax profits slipped 22% in 2017/18 to £54m, but the brand regained footing in 2018/19, with profits climbing to a high of £71m and sales steadily on the up.

Dawson’s long-standing strategy is to invest in scalability, with the biggest outlay so far being a new Plymouth HQ, which created 450 jobs when it opened in 2019.

During lockdown, Dawson kept The Range outlets open but that sparked a backlash including a petition calling for stores to close for being "wrongly categorised as essential" and complaints the brand was putting customers and staff at risk. There was further controversy when The Range was found to be selling packs of face masks for £60, £40 above standard retail price.

However, while the pandemic hasn’t been Dawson’s finest hour, The Range remains one of the UK’s top 50 retailers by sales. And, having received plaudits for his achievements in expanding The Range from a Plymouth market stall in 1988, Dawson’s retail influence continues to endure.

80. Dominik Richter

Founder and chief executive, HelloFresh

▲ last year: 88

Dominik Richter is enjoying a landmark year with HelloFresh’s sales and profits soaring.

Buoyed by increased demand during the coronavirus outbreak as consumers increasingly cook from home, the meal kit business recorded “very strong” year-on-year revenue growth of 66% to €699m (£623m)  for the first quarter of 2020. Group EBITDA amounted to a positive €63m (£56m) – a turnaround from its €26m (£23m) first quarter loss last year.

HelloFresh has increased its active numbers by a whopping 68% year on year to 4 million and it delivered 111 million meals alone in the first quarter. Shares have also shot up 14% to a record high.

Speaking in May, Richter said: "On top of our already very strong first two months of the year, our meals have attracted significant additional demand in the second half of March, as the global pandemic hit all of our markets in short order."

As the driving force behind the brand’s success after launching the by-the-box delivery service in 2011, this next year is likely to see Richter cement his aim of making HelloFresh “the number one meal box service in the countries it serves".

91. Nigel Oddy

Chief executive, New Look

NEW ENTRY

Nigel Oddy took the top job at New Look on January 1, succeeding Alistair McGeorge, having joined the fashion retailer as chief operating officer in April last year.

Oddy had previously been chief executive at The Range for just over a year and held senior roles at House of Fraser for 10 years, latterly running the department store business.

Oddy said he was appointed at a “pivotal moment in New Look’s development” with the retailer having “taken decisive steps to broaden the appeal of our product, enhance the customer journey and improve our lead times”.

McGeorge, now non-executive chair, said he believed Oddy was the right person to steer New Look, asserting: “Now is the right time for Nigel to become New Look’s CEO. Nigel has been running the business operationally since he joined us and in a short space of time has made significant improvements to our buying, product, supply chain and omnichannel offer.”

In February 2020, as the retailer posted reduced losses in its third quarter and a 24% reduction in stock units, Oddy looked primed to accelerate New Look’s transformation plans. However, with the pandemic putting New Look’s supply into disarray, it could be a while yet until Oddy’s strategy bears fruit.

92. Ben Francis

Founder, Gymshark

▶︎ last year: 92

It’s been another stellar year for Gymshark – the activewear brand Ben Francis launched from his garage aged 19. Sales surged by 71% to £176m in the year to July 2019, after more than doubling the year before.

Since handing over the CEO reins to Steve Hewitt in 2017, Francis has been tasked with ‘taking care of tomorrow’ for the brand, with a focus on marketing, branding and product development.

This includes spearheading growth through Gen Z darling TikTok. Social-savvy Gymshark was one of the first UK retailers to take advantage of the trending platform. By pushing its social offering, Gymshark has capitalised on the lockdown-triggered surge in demand, with global Google searches for ‘activewear’ reaching an all-time high at the end of April 2020.

Under Francis and Hewitt, Gymshark has also made landmark moves in its ‘globalisation phase’. In 2019, it launched a Hong Kong office and dedicated sites in several European markets, Australia and the US, with the latter now accounting for around half of total sales.

Gymshark may like others face issues arising from the pandemic, but its entrepreneurial verve and fresh ways of thinking mean it is one of the most exciting British brands to watch and learn from.

93. Damian McGloughlin

Chief executive, Homebase

NEW ENTRY

Damian McGloughlin makes his inaugural appearance in the Retail 100 having successfully executed an aggressive turnaround plan at Homebase this past year.

In February 2019, the DIY chain had reported a £115m loss following several bad decisions by its former owner Wesfarmers. Since then, under McGloughlin, Homebase launched a CVA closing 42 stores, acquired specialist retailer Bathstore, and invested £10m in store developments and refurbishments to entice customers back.

McGloughlin has also concentrated on getting staff trained to a higher standard. “Training our team is what ... I believe in. Getting the right people to deliver and service our customer,” McGloughlin commented in February.

This overhaul has paid off and McGloughlin has got Homebase back in the black, with the retailer posting a £3.2m return to profit and a 2.6% uptick in like-for-like sales during the year to December 29, 2019.

Having delivered an impressive transformation, McGloughlin has also taken bold action during the coronavirus pandemic. Although Homebase counts as an essential retailer and could have stayed open, he chose to close all stores in March to ensure the protection of staff. In May, the retailer begun reopening stores on a trial basis.

94. Graham Stapleton

Chief executive, Halfords

▼ last year: 93

After sliding into Halfords’ driving seat in January 2018, Graham Stapleton outlined a new UK strategy that included a website re-platform, store transformation programme and more Autocentre openings.

While Stapleton’s strategy has had to be readjusted during the pandemic, he’s well placed to deliver growth in the coming months having reported better than expected sales for the financial year 2020. In May, the cycling and autocentre retailer said it expected profit before tax to be at the upper end of its guided range of £50m to £55m.

While group sales for the four weeks to May 1 were 23% below the same period on a like-for-like basis, Stapleton said this was “better than we initially anticipated” and had been driven by stronger results during the UK lockdown in cycling as customers “explored alternatives to public transport and for ways to stay healthy”. On the flip side, the retailer’s motoring arm showed “overall weakness reflected [by] a significant reduction in car journeys”.

As the country looks towards the next phase of easing lockdown, Stapleton’s focus will be fixed on continuing to boost sales and finding ways to connect with consumers. Speaking in May, Stapleton asserted: “I am confident the actions we are taking now will put the business in a strong position when we emerge from the crisis and enable us to continue to deliver on our strategic transformation in the medium term.”

95. Wilf Walsh

Chief executive, Carpetright

▼ last year: 94

Wilf Walsh has spent six years progressing Carpetright’s road to recovery and the journey is not over yet. Walsh has been re-engineering every aspect of Carpetright in a bid to revitalise the brand, but that strategy has come at a cost.

As a result of its CVA and restructuring, group pre-tax losses hit £25m for the 2018/19 financial year while total Carpetright group sales declined by 13%. Group margin also declined, by 1.5%, to 55% as Carpetright invested in promotions activity to support its appeal following the CVA.

However, the company’s sale to Meditor in December 2019 is expected to help progress turnaround plans.

Carpetright chair Bob Ivell has said that “with a recapitalised business and the backing of a committed new owner with the resources to invest in Carpetright for the long term, we will be able to complete our recovery in the private arena and emerge as a stronger business.”

Recent investments steered by Walsh echo the retailer’s focus on long-term opportunities. For instance, in April, the retailer stepped in to sponsor Exeter City Football Club for a three-year term after its previous shirt sponsor Flybe went bust.

96. Louise Greenlees

President, TJX Europe

▶︎ last year: 96

Now in her fifth year as president of TJX Europe – parent company of TK Maxx – Louise Greenlees will be drawing from her considerable experience in the fashion sector to bring the brand safely through the coronavirus pandemic.

Greenlees had been investing heavily in IT, primarily supply chain systems, as well as UK bricks-and-mortar outlets and overseas expansion. The off-price giant has a well-established presence in Germany and Poland and recently moved into Austria and the Netherlands.

This strategy had been paying off with TK Maxx group sales steadily climbing to £29m in 2018/19, up from £27m the year before, driven by efforts to capture market share and grow customer traffic internationally.

While the pandemic resulted in TK Maxx halting all online orders in addition to shutting shops from March 19, Greenlees oversaw the reopening of its online business on April 30, having made changes to safeguard staff and customers.

Greenlees also supported the wider retail community during the crisis, with TJX pledging £100,000 to fund the industry’s CaRe20 appeal.

Having powered the retailer ahead in 2019, Greenlees has shown she has mettle to get TJX through the crisis and to push full steam ahead with her strategy.

97. Claire Davenport

Chief executive, Notonthehighstreet.com

NEW ENTRY

Claire Davenport took the reins as Notonthehighstreet CEO in August 2019, after Barrie Seidenburg stepped down owing to health issues.  

Bringing a fresh perspective and digital nous, Davenport makes her debut in the Retail 100 as she exerts her influence in growing the online business.

An adviser to various private equity and venture-capital backed firms, Davenport brings notable digital expertise having previously held senior positions at Skype, Ofcom, VoucherCodes and, most recently, HelloFresh.

Commenting on the appointment, chair Darren Shapland said Davenport was poised to “take the business on to the next stage of growth”.

For Davenport this strategy involves taking a longer-term view. “I believe Notonthehighstreet has a lot more potential to unlock, building on its original premise and the great work that Barrie has started with the team to modernise the tech and create a first-class customer and partner experience,” she said.

Reporting an 82% surge in operating profits to £3m in the year to March 31, 2019, and active customers up 3% to 2.6 million during the period, Davenport is leading Notonthehighstreet at a good time.

With its online marketplace proposition, the retailer is also relatively protected from many of the biggest challenges facing retailers during Covid-19. However, it has gone out of its way to help the 5,000 partners who sell through its platform, launching a Small Business Supporter Campaign in April to champion entrepreneurs.

98. Rachel Osborne

Chief executive, Ted Baker

NEW ENTRY

Rachel Osborne has found herself in the hot seat, having been parachuted into Ted Baker at a challenging time.

Osborne initially came on board as chief financial officer in November 2019 and was promoted to acting CEO the following month after the business issued its fourth profit warning in a year, triggering then CEO Lindsay Page to leave.

Having joined Ted Baker from Debenhams, where she won respect from critics for doing a tough job well as CFO, Osborne has what it takes to power Ted Baker’s much needed financial transformation.

Already Osborne has reshaped the retailer’s leadership team with four directors axed in early 2020 and, in a bid to generate funds, she embarked on the sale and leaseback of the brand’s headquarters in March 2020 in a £79m deal.

Covid-19 has forced temporary store closures and led to the furlough of 2,000 workers. Osborne has suspended all non-essential capital expenditure and halted discretionary operating expenses in a bid to protect cash flow. She has also overseen the inception of ‘Ted’s Bazaar’ pop-up shops, donating 100% of profits to communities.

It’s fair to say Osborne has landed one of the toughest jobs in retail, but her experience at Debenhams and past senior finance roles held at the likes of Kingfisher, Vodafone and John Lewis show she’s the person to call in a crisis. Turning Ted Baker’s fortunes around would be a serious coup, confirming her status as a valuable player to have on side.

99. Alex Loizou, Mandeep Singh and Glen Walker

Founders, Trouva

▲ last year: 100

Online marketplace Trouva has been providing indie bricks-and-mortar boutiques with the tech to defy the ‘death of the high street’ since 2005. 15 years later and the business has now cemented itself as a global player thanks to the efforts of founders Alex Loizou, Mandeep Singh and Glen Walker.

After expanding into international markets in June 2018 with the launch of 20 Berlin-based boutiques, Trouva has enjoyed rapid growth in the past year and, as of December 2019, now offers more than 200,000 products from over 800 independent stores.

With 40% of Trouva’s network now outside the UK, it spans 12 European countries. In December 2019, the ambitious founders raised £17m to further expand their international offering, starting with the launch of its German website.

It remains to be seen how the pandemic and its economic fallout will affect Trouva’s plans, but the retailer is delivering orders as normal while offering boutique owners unable to operate their physical stores “a lifeline during this difficult time”.

The brand’s marketplace model and homeware-focus could make it one of the retail sector’s few pandemic success stories.

100. Will Kernan

Chief executive, River Island

NEW ENTRY

Will Kernan took the top job at River Island in September 2019 as the fashion retailer sought leadership outside the family and Ben Lewis – nephew of founder Bernard Lewis – took the role of chairman.

Kernan joins River Island following a series of launches and expansion such as the brand’s babywear range and pro-diversity campaigns, alongside its acquisition of fashion retailer Mint Velvet in March 2019 in a £100m deal and its new store opening in Essex.

Former boss of Wiggle and The White Company, Kernan brings an impressive CV and track record of growth and leadership in retail. These are vital skills for River Island as the brand seeks to improve its financial performance with sales sliding 2.6% to £920m in 2018.

Already Kernan has taken decisive action and in April 2020 he announced the permanent closure of womenswear label Harpenne, just seven months after its launch, to focus on “more established” brands in River Island’s portfolio.

All eyes will be on Kernan to see whether he can lead River Island to new heights in a tough time for fashion.