Steve Rowe: Last News

East Kilbride's MP is calling on the boss of Marks and Spencer to restore the reputation of the town's scandal-hit 'ghost store'.

British retail icon M&S has issued a bleak update to food and clothing shoppers ahead of the Christmas.

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Marks & Spencer is gearing up to become the first big fashion chain to offer nationwide same-day deliveries.

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30,000 Nobody’s Child frocks in a single week in April. But trend-led items can be hit and miss for M&S, which reported pre-tax losses of £209.4m last week - its first annual loss in 94 years, and its worst year on record. The struggling clothing department - as well as the impact of Covid - was to blame for this figure, and so chief executive Steve Rowe is embarking on a new strategy that he hopes will turn the division around.

first annual loss in nearly a century on the stock exchange.True, this is a company generating nearly £9bn of turnover and £210m of profit on an underlying level, so it’s still a long way from crisis territory, and the effect of Covid cannot be discounted.But another £243m of so-called adjusted items, which pushed it from a £42m pre-tax profit to a £201m loss, is a stark reminder of the financial pain of the latest restructuring programme.It says something about the scale of the task still facing chief executive Steve Rowe after a five-year battle that store closures are being stepped up.

Marks and Spencer favourite Percy Pigs will be devastated to learn the sweet treats could be under threat due to post- Brexit regulations. M&S boss Steve Rowe has warned that despite the free trade agreement with the EU, new rules could impact shipments of the pig-shaped sweets between Ireland, the Czech Republic and France.

Marks & Spencer is reportedly close to buying out fashion chain Jaeger, two months after the business went into administration.

The Mirror reported.

Marks & Spencer will keep all of its stores closes on Boxing Day this year.

hereIt also expects to create “a number” of new jobs as M&S invests in its online capacity.Chief executive Steve Rowe said: “In May we outlined our plans to learn from the crisis, accelerate our transformation and deliver a stronger, more agile business in a world in which some customer habits were changed forever.“Three months on and our Never the Same Again programme is progressing; albeit the outlook is uncertain and we remain cautious.“As part of our Never The Same Again programme to embed the positive changes in ways of working through the crisis, we are today announcing proposals to further streamline store operations and management structures.“These proposals are an important step in becoming a leaner, faster business set up to serve