Co-founder Iain McGeoch hands over reins at M&Co

M&Co reported sales and turnover on the rise in its latest annual results. Picture: Contributed

M&Co reported sales and turnover on the rise in its latest annual results. Picture: Contributed

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CLOTHING chain M&Co saw sales rise in co-founder Iain McGeoch’s last year at the helm after almost five decades.

McGeoch stepped down earlier this year from his role as chief executive and chairman at the Inchinannan-based firm which together with brother Len he had grown from six pawn-broking stores to a chain of almost 280 fashion outlets worldwide.

His son Andy, who joined the business 12 years ago, was appointed as chief executive with former HMV managing director Steve Knott installed as chairman.

McGeoch is continuing to take an active role in the business in a non-executive capacity. Results for the year to 20 February showed a 1.3 per cent increase in sales with net turnover rising to £160.4 million.

Andy McGeoch said the improvement had come despite a challenging autumn/winter season.

“In common with our competitors, we were wrong footed by some unseasonably warm weather in September and October, resulting in a general discount environment on the high street in the run up to Christmas,” he commented.

Online sales have continued to grow strong and the firm said it had also seen a strong performance in the first half of the current financial year.

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