The company appointed a new chief executive last week
A lot of attention has been focussed on the latest quarterly trading report from Marks & Spenser this morning following the appointment as chief executive late last week of new boss and company lifer, Steve Rowe.
It's unrealistic to expect him to change things in a week and in the 13 week period to the end of March, the company saw sales at its general merchandise division – principally clothes - fall by 2.7%.
Though this was slightly lower than market expectations, it means Marks & Spenser has achieved just one quarter of sales growth in clothing over the past five years.
Mr Rowe, who started his career on a Marks & Sparks shop floor in Croydon at age 16, has retained responsibility for the clothing division in addition to his chief executive role.
"Although the sales decline in clothing and home was lower than last quarter, our performance remains unsatisfactory and there is still more we need to do."
"Turning around our clothing and home business by improving our customer offer is our number one priority. I will update you on my thoughts on the business in May," the new boss added.
No separate breakdown is given for the group’s 15 Irish stores.