M&S CFO says board, investors back executive team
LONDON (Reuters) - Marks & Spencer's executive team, led by CEO Marc Bolland, retains the backing of the British retailer's board and investors despite the firm posting a tenth straight quarter of declining underlying sales in clothing, its chief finance officer said.
"The board is behind us and behind the strategy and the shareholders are behind us and behind the strategy," Alan Stewart told reporters on Thursday.
He declined to put a time frame on when M&S would return to positive like-for-like sales growth in general merchandise, which spans clothing, footwear and homewares.
"The step by step approach is what we've spoken about and I think that's the way in which we're going to be measured and the way that we look at it," he said.
- Tweet this
- Share this
- Digg this
- Children's corpses in Korean ferry reveal desperate attempts to escape |
- Man United act to halt slide as power shifts back to Liverpool
- Ukraine government says resumes offensive, hopes for more U.S. help |
- Australia vows to keep searching to solve missing Malaysian plane mystery
- Search for MH370 reveals a military vulnerability for China