M&S reports drop in sales
Marks & Spencer have reported a fall of 0.7 per cent in total group sales with like-for-like sale down 2.8 per cent. The retailer has attributed the drop to a tough market and merchandising issues in its Spring Summer clothing collections. Food performed well with a 0.6 per cent rise and multi-channel sales were up 14.9 per cent.
Marc Bolland, chief executive said: “Our Food business has again performed strongly. General Merchandise underperformed in a difficult trading season. We are confident we are taking the necessary steps to address this."
“We are pleased with the performance in Multi-channel and our key International businesses, which are continuing to make good progress.”
The group has also announced several senior management changes including the appointment of John Dixon as executive director general merchandise and ex-CEO of Debenhams, Belinda Earl, as style director.
Mr Bolland commented: “John has done an outstanding job in running the food division over the past 4 years. He has delivered consistent growth through meeting our customer's desire for quality and innovation. He is the right person to take over the running of our General Merchandise division. He will be working closely in his new role with Belinda. She is a highly experienced retailer and her product knowledge and judgement will complement John's expertise. We are delighted that she has chosen to join us in this new role."
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