The new boss of Godfreys Group has embarked on a rescue mission at the vacuum cleaner retailer, promising to ramp up e-commerce and wholesale distribution as sales continue to slide.
Godfreys has suffered a further sales slump and plunged to a $59 million loss for the first half of 2017/18, with new recently installed chief executive Jason Gowie pledging to turn around the business’ ailing fortunes over the next three years.
“We are confirming the continuation of a negative like-for-like sales trend which has been consistently around minus six to seven per cent for the last three halves,” Mr Gowie said on Tuesday.
“It was clear to me when I joined Godfreys in early December that there is fundamental value in the business but there is a …
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