M&S bolsters design and merchandise teams amid "mixed" FY clothing sales
As Marks & Spencer CEO Marc Bolland revealed full-year clothing sales rose by just 0.2%, Kate Bostock, executive director of general merchandise said the retailer has moved to bolster its design and merchandise teams and ramp up the amount of clothing it sources on a fast-fashion basis.
After Marks & Spencer admitted to being caught short in women's wear during the fourth-quarter, it has moved to bolster its design and merchandise teams as well as ramping up the amount of clothing it sources on a fast-fashion basis. M&S executive director of general merchandise, Kate Bostock, spoke to journalists about its clothing strategy yesterday on the sidelines of the retailer's annual results.
Marks & Spencer, often seen as a barometer for wider trading conditions in the retail sector in the UK, today (22 May) reported mixed annual results. Sales and gross margin from food was higher but challenges remain elsewhere in the business - including women's wear. The retailer also cut the top end of its group sales forecasts.
Marks & Spencer CEO Marc Bolland moved to defend the retailer's clothing performance today (22 May) after full-year sales rose by just 0.2%.
Retailer Marks & Spencer today (22 May) unveiled its first fall in full-year profits in three years and said it was taking steps to improve its buying and merchandising after seeing a mixed performance in its clothing lines.
- Where next for 3D design and prototyping?
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Tanzania adds to Africa’s apparel sourcing mix
- Apparel buyers miss out on commodity cost savings
- Brandix named PVH ‘Global Supplier of the Year’
- Earthquake damage at Bangladesh garment factories
- Ascena Retail to buy Ann Taylor owner for $2bn
- AGOA delays drag on sourcing decisions
- China and India to exploit trade relationship