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
- Arsenal must now beat Galatasaray, says Cazorla
- UK economy picks up in second quarter, recovery pace revised higher
- UK house prices fall for first time in 17 months - Nationwide
- Lightning, rain fail to deter resolute Hong Kong protesters |
- Kurds seize Iraq/Syria border post; Sunni tribe joins fight against Islamic State |