Peacock Group PLC, the UK-based discount clothing and homewares retailer, instigated a radical shake-up of its merchandising operation to avoid a repeat of last year's overbuying which led to a January profit warning, said chief executive Richard Kirk. Speaking in an interview with AFX News following the release of full year results, Kirk said the company recruited David Pigeon from Matalan to be its new head of merchandising and appointed a further eight senior and middle managers to the function.