Top retail execs eye exit as gloom grows

NEARLY a fifth of top executives in the struggling retail sector are planning to quit the business in the next two years because of mounting gloom on the High Street.

Rumoured takeovers, falling profits, industry consolidation and the rise of internet shopping have raised concerns about their careers, with 65% saying they are willing to consider better pay outside retail. But 19% have already decided to go.

The misery is revealed in a survey of senior retail executives by marketing agency Fox Kalomaski. The retail business, say 32%, offers no secure, long-term future while 42% believe it is a job that is not respected by the outside world.

The respondents are themselves critical of their own sector. Nearly 40% feel the retail trade is bad at marketing its brands and outlets while 64% say it is sexist.

Fox Kalomaski joint managing director Stephen Fox said: 'These findings confirm that there is concern among top retailers about the future, and it isn't helped by events like the Allders and Courts collapses. What's more, if they want a merrier Christmas in 2005, retailers will need to inject more life and originality into their marketing campaigns.'

Among other findings of the survey, 69% of those questioned confided that they had not originally thought of retail as a career, 60% claimed their were motivated by job satisfaction while 13% admitted they did it for the money.

But they have respect for some of their colleagues. Tesco was named as the company that they most admire while Philip Green, owner of Bhs and Top Shop-to-Miss Selfridge group Arcadia, was praised as the best boss.