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Boots CFO steps down

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On this episode of Talking Shop, we're joined by Dan Cate, CEO and Founder of SoldThrough. Dan is a heavyweight retail executive who has spent decades steering the merchandising and digital operations of America’s most iconic retail institutions, from Saks Fifth Avenue and Bloomingdale’s to Century 21 and Lord & Taylor. Today, through his platform SoldThrough, Dan helps international fashion brands cross the Atlantic and crack the notoriously brutal U.S. retail landscape. We break down his journey from the shop floor to the C-suite, the operational indicators that prove a brand is truly ready for international expansion, and how to navigate a fragmented American market without destroying your margins. We also discuss how to balance localised inventory with central efficiency, and the one non-negotiable metric that tells you a product has found genuine market fit.

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Boot’s chief financial officer Michael Snape has recently quit his role after five years in the position.

Snape joined the pharmacy and beauty retailer in 2018 after holding senior positions at grocers, including Tesco. He will be replaced by existing Boots finance executive Sam Hunter.

It is unclear whether Snape already has another job on the line. 

In a statement, a Boots spokesperson said: “After almost five successful years at Boots, Michael Snape, Chief Financial Officer, Boots and No7 Beauty Company, has decided to leave the business. 

“During his time at Boots, Michael played a key role in successfully transforming Boots and we wish him all the best for the future and in his next role.”

The news comes as the company reported a UK retail comparable sales growth of 16% in the second quarter. 

The company currently employs 56,000 people and trades in 2,200 shops in Britain. 

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