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M&S CFO says board, investors back executive team
January 9, 2014 / 7:20 AM / 4 years ago

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.

Christmas decorations adorn the exterior of retailer Marks and Spencer's flagship store in London's West End, November 5, 2013. REUTERS/Andrew Winning

“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.

Reporting by James Davey; editing by Sarah Young

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