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M&S CEO Bolland says general merchandise is improving
January 9, 2014 / 7:46 AM / 4 years ago

M&S CEO Bolland says general merchandise is improving

LONDON, Jan 9 (Reuters) - The head of British retailer Marks and Spencer, Marc Bolland, said the company’s step-by-step approach to improve general merchandise sales was working despite figures showing the 10th consecutive quarter drop in clothing sales.

Chief Executive Marc Bolland said Britain’s biggest clothing retailer, which also sells homewares and food, had seen a 1.5 percent growth in general merchandise in its Christmas trading.

“The step-by-step approach to improve our general merchandise is slowly improving but we have always said that it will be step-by-step,” Bolland told BBC Radio.

“Our market share has been stabilised over the quarter and it has even been for womenswear slightly improved.”

Bolland said the retailer’s largest sharholders understood the company was undergoing a major transformation that would take time.

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