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.
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- Trump blows the case for Brexit out of the water
- US apparel retailers' November 2016 sales roundup
- Duty-free trade key to build Africa supply chains
- US Q3 in brief – Destination Maternity, Cherokee
- Taiwan textile maker investing in first US plant
- Esquel efficiency drive continues to boost brands
- Outdoor apparel sector set for double-digit growth
- Myanmar garment industry "lacking labour rights"