What M&S’s new boss Steve Rowe can learn from Sir Alex Ferguson about crafting a winning business January 11, 2016 "It's a bit like being asked to be England football manager… you don’t turn it down.” These were the words of one analyst when Marc Bolland, soon to be former Marks & Spencer chief executive, took the retail hot seat back in 2009. Now, like so many England managers, he departs with a sense that adversity [...]
Without proper e-commerce investment, Steve Rowe risks making Marks & Spencer fade into obscurity January 8, 2016 Ahead of Christmas, UBS analysts predicted that the retail winners would be those with the strongest online offering. As sales results from the holiday period get reported, the analysts are being proven right, with the most e-commerce and mobile-friendly retailers coming top of the pile in the festive fight. This trend claimed it’s first victim this week, with the [...]
There’s nowhere to hide for Marks & Spencer’s shop-floor boy turned chief executive Steve Rowe January 8, 2016 It was only a matter of time before Marc Bolland left Marks & Spencer, and with his tenure at the retailer nearing six years, many will be asking how he lasted as long as he did. Under Bolland, times have been tough: general merchandise has been in decline for 17 of the past 18 quarters, [...]
Wall Street sinks and FTSE 100 index closes below 6,000 after another turbulent day in China January 7, 2016 The Dow Jones recorded its worst four-day start to a year on record, following another day of turmoil in China, which also left the S&P 500 on track for its worst start to a year since 1928. The Dow Jones industrial average fell 2.32 percent, to 16,514.1, the S&P 500 dropped 2.37 per cent, and the Nasdaq lost [...]
With Marks and Spencer’s CEO Marc Bolland bowing out, odds shorten on the City’s retail boss departures January 7, 2016 So M&S boss Marc Bolland has finally stepped down, after years of pressure – but who thought his departure would be revealed just seven days into the New Year? At the very start of this week The Capitalist brought you odds on The 2016 Sack Race, including the 4/5 that was available on Marks’ Dutch [...]
Marks & Spencer’s share price climbs as chief executive Marc Bolland leaves and Steve Rowe replaces him as trading slumps again January 7, 2016 Marks & Spencer's share price climbed this morning, after revealing chief executive Marc Bolland is leaving the company after yet another period of poor performance. Bolland will be succeeded by Steve Rowe, executive director of general merchandise. He will remain as chief executive and on the board until 2 April, and will remain "available" to Rowe during the handover [...]
Steve Rowe: Everything you need to know about the man replacing Marc Bolland at Marks & Spencer January 7, 2016 Marc Bolland is out. After months (if not years) of shareholders and analysts calling for him to leave Marks & Spencer, the former Morrisons man is hanging up his hat on 2 April. Bolland is handing over to Steve Rowe, an M&S lifer. But Rowe is relatively unknown to the wider world. Here's what you [...]
Tesco, Morrisons, Aldi, Lidl, Asda and Sainsbury’s: What to expect from the supermarket sector’s Christmas results January 5, 2016 Supermarkets were going for broke this Christmas, after a poor year of trading for the likes of Tesco, Morrisons and Asda, with Sainsbury's the only one of the Big Four in growth in the run-up to the festive period. But with challengers Lidl and Aldi stealing market share from the price conscious, while Marks & Spencer and [...]
Next’s share price falls as retailer reports disappointing sales, with warm weather deterring shoppers January 5, 2016 High street giant Next's share price fell this morning after it reported disappointing sales in the run up to Christmas, as the warm weather took its toll alongside growing competition online. The figures Sales over the 60 days to 24 December nudged up 0.4 per cent across the group, with Next Directory growing two per cent, [...]
Warm weather to cool Christmas sales at Marks & Spencer January 4, 2016 The mildest December on record combined with intense competition on the high street is expected to spell a gloomy end of the year for retailers, with Next and Marks & Spencer the first to unveil this week how they fared over the crucial Christmas period. The wet and mild weather, security fears in the aftermath of the [...]