HomeNEWSPumpkin Patch appoints new chief financial officer

Pumpkin Patch appoints new chief financial officer

Dave Foster. Source / Linkedin

Pumpkin Patch’s staff have undergone a rejig as of late.

Mackay announced his resignation just last month, while former Warehouse Group CFO Luke Bunt was named as its managing director in July.

Former Pumpkin Patch chief executive Di Humphries also stepped down in June.

As well as these key players, Briscoe Group managing director Rod Duke left the company’s board due to increased commitments with Briscoe Group.

Pumpkin Patch has struggled to compete in the kids apparel market space.

Its more premium offering has faced increased competition from ecommerce sites and cheaper competitors, such as Cotton On Kids.

The retailer has estimated that in the year ending July 31, earning expectations before tax, interest, depreciation and amortisation would be about $14 million.

It said that would amount to a modest loss. Its full year results will be announced 25 September.

Pumpkin Patch chairman Peter Schuyt has remained optimistic about being able to return the company to its former glory.

“Although the earnings expectation for next year is disappointing, the company remains confident in the value and potential of the Pumpkin Patch brand and is committed to embarking on the change process necessary to deliver the results that stakeholders are expecting of the company,”  Schuyt said when Bunt was appointed.

Pumpkin Patch’s shares have declined 66 percent in the past year. They last traded at 14 cents.

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