{"id":12487,"date":"2012-07-13T15:23:00","date_gmt":"2012-07-13T14:23:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/amateur-photographers-last-interview-with-jessops-boss-12487"},"modified":"2014-09-02T14:20:51","modified_gmt":"2014-09-02T13:20:51","slug":"amateur-photographers-last-interview-with-jessops-boss","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/","title":{"rendered":"Amateur Photographer’s last interview with Jessops boss"},"content":{"rendered":"

\n AMATEUR PHOTOGRAPHER INTERVIEW WITH JESSOPS BOSS, FIRST PUBLISHED JULY 2012 <\/strong>\n <\/p>\n

\n
\n [In the weeks prior to this, former CEO Trevor Moore had declined a request to be interviewed by AP’s newsdesk about the company’s latest sales results and plans for the future. The company had also refused to reveal its latest profit\/loss figure, meaning we had to find out ourselves through records held at Companies House.]<\/em>
\n <\/strong>\n <\/p>\n

Earlier this year, it was reported<\/a> that Canon had reached a \u00a310m agreement to \u2018prop up’ Jessops, and that HSBC<\/a> was in talks over the future of the business.<\/p>\n

\u2018It’s rubbish,’ said executive chairman Martyn Everett who will assume a hands-on role at Jessops after CEO Trevor Moore<\/a> announced his departure yesterday.<\/p>\n

Everett has stepped in as Jessops executive chairman from the non-executive position he has held since joining the firm in March.<\/p>\n

In an interview with Amateur Photographer <\/em>(AP), he said: \u2018To be straight, HSBC [which is also Jessops’ bank] are clearly not long-term holders of camera retail – it’s not their core business, but there’s no immediate plans for them to exit that position.’<\/p>\n

Everett pledged to maintain a \u2018large’ network of shops but to continue to shut stores that do not meet profit targets.<\/p>\n

He stressed that Jessops is not in the throes of a \u2018gradual closure’ programme, but investing in stores such as the flagship branch in New Oxford Street which, he said, cost a fortune to refurbish.<\/p>\n

\u2018It’s a question of making sure we are in the right high-street location and we put our resources behind successful, profitable stores.<\/p>\n

\u2018We opened Hounslow this year and we are going to be opening a new, large, flagship store in Bristol shortly.’ <\/p>\n

\n Departure of CEO <\/strong>\n <\/p>\n

Meanwhile, Everett heaped praise on Trevor Moore who will leave the company<\/a> at the end of this month after three years as CEO.<\/p>\n

Everett said he does not plan to hire anyone else to fill the CEO position.<\/p>\n

Asked why Moore decided to leave, Everett said: \u2018I can’t really tell you much. Trevor has an exciting opportunity that he’s going to… but it’s not something he or Jessops are in a position to talk about for another 2-3 weeks.’<\/p>\n

Everett wanted to make clear that Moore \u2018wasn’t pushed’ and will leave with Jessops’ \u2018goodwill’ at the end of July.<\/p>\n

He suggested, however, that his departure came as a blow.<\/p>\n

\u2018I would have preferred to have kept him but clearly life goes on… and we need to accept that,’ he told AP. <\/p>\n

\u2018But, he’s left a good team behind so, while he’ll be missed, I’m still confident that we can take the business forward…’<\/p>\n

Paying tribute to Moore, he added: \u2018One of the things Trevor has done over the past few years is build a very strong [management] team around him…<\/p>\n

\u2018I have only been in the business for four months but I have to say I share his passion… I think it’s a fantastic business.’<\/p>\n

\n Future plans <\/strong>\n <\/p>\n

So, what’s the future for Jessops at a time of double-dip recession – with photographers still reeling from shock at the demise of rival chain Jacobs? Jessops most recent accounts show that the company made a \u00a30.9m loss <\/a>after tax. <\/p>\n

Everett said he cannot comment on whether he expects Jessops to break into profit next year. <\/p>\n

\u2018We tend to focus on EBITDA because, at the end of the day, the bank are our majority shareholders as well as our debt providers.’<\/p>\n

EBITDA measures a company’s earnings before factors such as tax, interest and depreciation – a clearer indicator, to investors, of a company’s core profitability.<\/p>\n

\u2018EBITDA was up to 5.7m last year which is a big increase on the year before.’<\/p>\n

Though the market remains \u2018tough’, Everett is positive about the future. \u2018We have done a fantastic job of growing market share and top-line growth and we want to be more focused. <\/p>\n

\u2018We want to continue to grow the business, but in a way where we can become more profitable and cash generative.’<\/p>\n

But how does Jessops deter potential customers from coming in for camera-buying advice, only to walk out the door and order from an online competitor?<\/p>\n

Everett replied: \u2018By having a talented, quality sales team… At the end of the day you can’t stop people doing that [ordering online], but if [customers] go into a store they need well-trained staff who are there to help with their purchase – then there is a certain loyalty and likelihood they will want to proceed with the transaction before they leave.’<\/p>\n

He added: \u2018We are constantly looking at online prices – we don’t just sit in a bubble. We are aware of what our competitors charge, and keen to make sure we are product competitive.’<\/p>\n

Martyn Everett joined Jessops as non-executive chairman in March, from a director’s role at media rights group Chorion.<\/p>\n","protected":false},"excerpt":{"rendered":"

In AP’s last interview with Jessops, published in July 2012, its new boss dismissed as \u2018rubbish\u2019 talk that the retailer had struck a deal with Canon and that its majority shareholder, HSBC, was poised to sell its share.<\/p>\n","protected":false},"author":324,"featured_media":12488,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39],"tags":[],"product-category":[],"class_list":["post-12487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-photo-news"],"yoast_head":"\nAmateur Photographer's last interview with Jessops boss - Amateur Photographer<\/title>\n<meta name=\"description\" content=\"In AP's last interview with Jessops, in July 2012, its new boss dismissed as \u2018rubbish\u2019 talk that the retailer had struck a deal with Canon and that its majority shareholder, HSBC, was poised to sell its share.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amateur Photographer's last interview with Jessops boss\" \/>\n<meta property=\"og:description\" content=\"In AP's last interview with Jessops, in July 2012, its new boss dismissed as \u2018rubbish\u2019 talk that the retailer had struck a deal with Canon and that its majority shareholder, HSBC, was poised to sell its share.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/\" \/>\n<meta property=\"og:site_name\" content=\"Amateur Photographer\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/Amateur.photographer.magazine\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-13T14:23:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-09-02T13:20:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2012\/07\/jessopsstratford.low_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"359\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Megan Graye\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AP_Magazine\" \/>\n<meta name=\"twitter:site\" content=\"@AP_Magazine\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Megan Graye\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/\"},\"author\":{\"name\":\"Megan Graye\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/#\/schema\/person\/09a37c0ec6db00d983eb2045e99ff2f1\"},\"headline\":\"Amateur Photographer’s last interview with Jessops boss\",\"datePublished\":\"2012-07-13T14:23:00+00:00\",\"dateModified\":\"2014-09-02T13:20:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/\"},\"wordCount\":829,\"commentCount\":5,\"image\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2012\/07\/jessopsstratford.low_.jpg\",\"articleSection\":[\"Latest news\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/\",\"url\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/amateur-photographers-last-interview-with-jessops-boss\/\",\"name\":\"Amateur Photographer's last interview with Jessops boss - 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