Yesterday gave us more news on just what M&S plans to do to turn around its clothing offer and an interesting update it certainly was. CEO Steve Rowe said at the AGM that “We have been giving our customers too many reasons not to shop with us. They tell us we have not got the…
There may be a lot more occupying the front pages these days but an M&S sales report is always headline news. And today’s? Well, all I can say is ouch! Comparable sales in its clothing and home units fell 8.9% in the quarter to July 2, which is a big drop, a really big drop.…
M&S released its full-year results this morning. But before we go into the figures. Let’s look back. In the financial year 1997/98, M&S had a clothing market share approaching 14%, pre-tax profits of almost £1.2bn on sales on £8.24bn and was the UK’s most profitable retailer. The company’s decline started in the following financial year…
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