Holmes' Winter of Discontent the Head of Marks & Spencer Tells Richard Fletcher He Is Taking the Sales Fiasco On the Chin, and Remains Determined to Deliver Growth
Summary
Roger Holmes, the chief executive of Marks & Spencer, is the classic once-bitten businessman. He still hopes to grow the retailer's core clothing business but is no longer making any detailed promises to the group's long-suffering shareholders.
A year ago, the then newly appointed Holmes pledged that under his leadership the high street giant would gain market share in clothing. Today he admits that a dismal autumn and winter season means that the group is actually losing its share of the high street cake.See the full content of this document
Extract
Holmes' Winter of Discontent the Head of Marks & Spencer Tells Richard Fletcher He Is Taking the Sales Fiasco On the Chin, and Remains Determined to Deliver Growth
Last week M&S said that like-for-like sales across the company had fallen by 2.3 per cent in the past seven weeks, although womenswear fared even worse. Some categories, such as knitwear, suffered double-digit declines. It was news that left Mark...
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