Marks & Spencer loses UK clothing share
Fin24/ Reuters - Mar 24th 2014, 07:24
London - Marks & Spencer, Britain's biggest clothing retailer, lost market share over the last three months, industry data showed, , reversing a small gain late last year that was heralded by its chief executive as a sign his recovery plan was working.
Data from research group Kantar Worldpanel, seen by Reuters, showed M&S's share of the UK fashion market declined 0.2 percent in the 24 weeks to February 16 and was down 0.4% in the latter 12 weeks of the period.
The figures showed the retailer's share of the key womenswear market contracted 0.2% over the 24 weeks and 0.5% over the latter 12 weeks.
The loss of share is likely to up the pressure on CEO Marc Bolland, who has presided over 10 straight quarters of declining underlying sales in M&S's general merchandise division, which includes clothing.
Bolland is nearing the end of a three-year, $3.8bn plan to address decades of under-investment.
In January he said the womenswear business was showing "early signs of improvement" under the management of a new team and a re-focus on quality and style.
He highlighted womenswear market share growth of 0.1% over the 12 weeks to November 24 - the first growth in three years - and said the firm's spring/summer collection had been well received by the fashion press.
M&S declined to comment on the latest market share data.
Marks & Spencer targets new store concept in bid to drive growth
18/10/2019 - 10:18
For a taste of CEO Steve Rowe’s ambitions to transform Marks & Spencer Group (M&S), look no further than its newly refurbished shop in London’s Clapham neighbourhood.
Morrisons to cater for autistic shoppers with “Quieter Hour” initiative
19/07/2018 - 11:35
Morrisons has become the latest retailer to launch a “Quieter Hour” designed to make stores more comfortable for shoppers with autism.
Choppies wraps up purchase in KZN
06/11/2017 - 09:29
Botswana-based retailer Choppies has completed the acquisition of KwaZulu-Natal’s Arizona Wholesalers and Butcheries, adding to its 71-strong retail footprint in SA.
Choppies struggles to make its mark in tough SA conditions
20/07/2017 - 15:56
Botswana-based Choppies may be a well-established grocery retail chain in many parts of sub-Saharan Africa, but the company has found the going tough in SA.
M&S to begin labelling avocados with lasers
20/06/2017 - 11:18
Marks & Spencer has begun labelling avocados with lasers rather than stickers in an attempt to become more environmentally friendly.