M&S CFO says board, investors back executive team
LONDON Jan 9 (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.
- Tesla says in talks with BMW over car batteries, parts
- Exclusive: China ready to cut rates again on fears of deflation - sources
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- China building South China Sea island big enough for airstrip: report
- Suicide bomber kills 45 at volleyball match in Afghanistan