M&S faces continuing challenges in clothing
Marks & Spencer, the UK's largest clothing retailer, is shaking up its senior management team after booking a 5.1% drop in first quarter general merchandise sales. But the new executives will continue to face challenges as they attempt to turn around its clothing division.
Marks & Spencer, the UK's largest clothing retailer, is shaking up its senior management team after booking a 5.1% drop in first quarter general merchandise sales. Here Petah Marian looks at the challenges the new executives will face as they attempt to turn around its clothing division.
Like a vast, slow-moving and rather unwieldy tanker, battered and lashed by stormy seas, the UK's largest clothing retailer Marks & Spencer has done much over the past decade to try to steady its business.
Marks and Spencer's clothing business has come under increased scruitiny in recent months. However, looking through just-style's archives it becomes clear that its performance has been patchy for quite some time. Petah Marian looks at M&S's major milestones over the past five years.
Marks & Spencer today reported a 0.7% decline in first quarter sales for the three months ended 30 June. UK general merchandise recorded the steepest decline, with sales down 5.1% over the quarter. The company also said general merchandising executive director Kate Bostock is set to leave. Here is a flavour of what leading retail analysts are saying about the news.
Marks & Spencer today (10 July) confirmed that general merchandise executive director Kate Bostock will leave the company "by mutual consent" as first quarter general merchandise sales plunged.
Marks & Spencer has declined to comment on reports that Kate Bostock, its executive director of general merchandise, is set to leave the company.
Retailer Marks and Spencer has reportedly suffered a slowdown in clothing sales during the start of its new financial year.
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%.
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Tanzania adds to Africa’s apparel sourcing mix
- Supply chain weighs on Kering's green footprint
- Where next for 3D design and prototyping?
- AGOA delays drag on sourcing decisions
- American Eagle Outfitters Q1 earnings soar
- EU and Turkey to update customs union
- Burberry shares slide as FY outlook slashed
- Apparel bright spot in Wal-Mart Q1