Marks & Spencer reports a drop in clothing sales
Hold on tight Rosie - poor old Marks and Spencer has announced a major management shake up after sales in the company's clothing department fell by 2.8% in the UK between April and June.
BBC News reports that after suffering from "stock issues and wet weather", the British retailer has vowed to improve its buying and merchandising in a bid to bring stock back on target for it's autumn and winter collections. Back in May, M&S also reported its first fall in annual profits for three years, which may explain why current head of General Merchandise, Kate Bostock, is stepping down. According to the Daily Mail, shareholders were less than impressed with Bostock's vision for the store as they complained about 'garish colours' and 'flappy fronted cardigans'.
As mentioned yesterday in our news in brief, former executive of Aquascutum, Belinda Earl, has been appointed as the new Style Director for M&S to help breathe new life into the company - a bold move perhaps, considering Aquascutums rocky year? Marks & Spencer's Chairman, Robert Swannell, seems confident in the decision, and has described the management shift as "part of our continuing programme to strengthen and broaden the range of skills and expertise that we have within our business."
It really is a shame to hear that one of the UK's most iconic stores has suffered such a blow to its clothing department. In addition to their fashion forward Limited Collection, the chic Autograph range, and the super cool ad campaigns featuring Twiggy, Dannii Minogue, and Rosie Huntington Whiteley, what more could Marks and Spencer's offer its customers?
We want to hear your views on the matter. Whether you love Marks and Spencer's clothing range, or find their taste in fashion outdated, let us know in the comments below.