M&S clothing 'under pressure to deliver'
British retailer Marks & Spencer posted an eighth consecutive quarterly fall in underlying sales of clothing, piling pressure on management to deliver a swift turnaround when new ranges start hitting the shops this month.
Chief Executive Marc Bolland, who later on Tuesday will face shareholders angered by two years of falling profit at the firm's annual meeting at London's Wembley Stadium, is pinning his hopes on a new clothing strategy based on more stylish and higher-quality garments.
Autumn/winter ranges were unveiled in May by his new general merchandise team, led by former M&S food boss John Dixon, and received mostly positive reviews from analysts and the fashion press.
That sent M&S shares, which have also been buoyed by bouts of bid speculation, to a five-year high.
Bryan Roberts, the retail insights director for Kantar Retail EMEA, told business presenter Simon Jack that the general public might not be as impressed by the autumn winter collection.
First broadcast on BBC Radio 4's Today programme on Tuesday 9 July 2013.
09 Jul 2013
- From the section Business