Marks & Spencer boss: overhaul of business is ‘going bloody fast’
Clothing and food sales fall but CEO Steve Rowe claims work is well under way to reverse chain’s fortunes
Marks & Spencer boss Steve Rowe said it was leaving “no stone unturned” as a new management line-up overhauls “every aspect” of its struggling clothing and food stores in a bid to appeal to younger shoppers.
After more than a decade of failed attempts to revive the high street giant, Rowe gave a stark assessment of the chain’s problems as it recorded a small increase in first-half profits. Its clothing arm had an “ageing” customer base and dated stores, while its food halls were too expensive, with shoppers put off by “confusing” promotions.
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Author: Zoe Wood