TC invests in websites and selective shop refits
Thomas Cook is to invest in its websites and ‘selective’ refits and refurbs of retail outlets.
Ian Ailles, chief executive officer, UK said that the company has enjoyed increased sales after a refit of its Oldbury store.
He added that there will be continued investment in e-commerce, keeping websites clear and simple, as the travel giant sees it as an ‘engine of growth’.
He confirmed the closure of 200 shops in short term leases but added that they have turnaround plans for shops on longer leases.
Speaking at the analyst presentation to coincide with the travel giant’s financial results, Ailles said: “The UK turnaround isn’t about rocket science, it’s about doing the basics well.”
Group CEO Sam Weihagen said on the UK performance that there was not one single item that was wrong, adding, “there are lots of small things to fix.”
Chairman Frank Meysman said that the Thomas Cook brand is the strength and that today is day zero for the company.
Meysman said: “I know we are here for the financial results but as far as I’m concerned, today is day zero for the company.
“It’s not going to be a quickly run match. Our brands are our strength particularly the Thomas Cook brand.”
He said that Weihagen was the ‘ right person at the right time’ who has stepped up to the challenge.
But added: ”The search for a new CEO is underway and I am seeing the first external and internal candidates as we speak. I hope to have a new CEO in place by the end of the second quarter.”
Thomas Cook today confirmed the closure of 200 ‘underperforming’ shops and reviewing other stores as their leases come up for renewal.
It follows the travel firm reporting a £398m pre tax loss in its end of year results announced today.
See previous story .
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