"Recession? What recession?" should be the slogan of the Moores family, owners of the Littlewoods mail order business and stores and pools chain. While more glamorous rivals have seen profits collapse in the past year or even bitten the dust, Littlewoods has gone from strength to strength. Its 1990 accounts reveal a 46% increase in profits to £94.8 million, with more of the same promised for 1991 by chief executive Des Pitcher and his team.
Pitcher, the former Plessey and Sperry man brought in by Littlewoods' founder, 95-year-old Sir John Moores, in 1983, after a turbulent time at the corporate HQ, has more than earned his keep with these results; they certainly ensure the Moores family's niche in the league table of billionaires.