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SharePrice.com - UK Share Information - Sunday, 17th February 2019

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M&S Embarks on Another Recovery Plan


Monday, 7th January 2019

Bolland’s departure saw his replacement, Steve Rowe, introduce a new recovery plan, which was then revised by Archie Norman to become another ‘new plan’. That plan appears to not be working out, as the company is struggling in a challenging environment where consumers are reluctant to spend, business rates are rising, high street rents are rising, and retailers are falling left and right.

Next, Marks & Spencer’s younger and more fashionable rival, has seen sales fall by 9.2 percent, and endured a very difficult Christmas period. Next was able to cling to life thanks to a boost for its online division, but M&S has never been a strong contender when it comes to innovations. The company has seen a wave of store closures, and is pushing its Simply Food stores, as well as revamping its clothing lines in a bid to lure back younger shoppers.

M&S is a high street icon in the UK, and there are many who want to see it survive. The company’s chairman, Archie Norman, is a former Asda executive, and he is joined by several other Asda alumni on the board, including Justin King who was formerly the boss of Sainsbury’s. There is speculation that if Rowe were to depart, King would become interim boss. Given Sainsbury’s successes in differentiating itself from the other major supermarkets in recent years, that could be a smart move. The question is whether any changes will be quick enough for a recovery plan.


Read previous editors articles here


Stock Market Update

Friday, 15th February 2019

Global stocks reflected a positive mood at the end of the week on news that negotiations between the US and China will be extended. The ceasefire between the two countries ...
Friday, 15th February 2019

The FTSE 100 was on course for a positive end to the week and a close above 7,200 by lunchtime after a better-than-expected print on UK retail sales. At midday ...
Friday, 15th February 2019

UK stocks crept higher at the open on Friday after Theresa May suffered another parliamentary defeat that exposed ongoing deep rifts in her own party over Brexit.  At 0851, the benchmark ...

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