Cook reveals details of business review as share price plunges
Thomas Cook today confirmed that the "fundamental review" of its business, announced to the City yesterday, will focus exclusively on its product mix.
It is not believed to be looking at job cuts although these have not been ruled out by the company.
Thomas Cook's share price plunged 28% after its warning that full-year profits will be £60 million lower than expected. It blamed the squeeze on consumer spending and political upheaval in the Middle East and North Africa.
However, today a spokeswoman for the company said it was looking more closely at its business model and more specifically at whether it is offering customers the right sort of holidays.
"The fundamental review will focus on product mix," she said. "It is looking at where the business is positioned and where it needs to be positioned now, next year and in a few years time."
She said Cook would be looking at whether it has "the right balance" of differentiated products. "For example, has it got enough all-inclusive, enough luxury product and the right holidays that people want to buy."
Further details will be announced at the company's third quarter trading update in August, although the spokeswoman said the review was likely to continue beyond the summer.
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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