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Wednesday, 10 November 2010 |
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 Marks & Spencer posted a strong first half results, with profit before tax up 17%, earnings per share up 21%. Chief Executive Mark Bolland commented: “In Clothing, we grew market share in all areas as we gave our customers better fashions,
more choice and great value. The business is in good shape and we have strong foundations on which to build through evolution not revolution."
“We will begin by focusing on the core UK business. For our customers this means that in Clothing we will improve our core M&S ranges, so that the unique quality, style and fashion of the M&S brand stand out. We will also clarify the position of our sub-brands, moving them from labels to real brands."
 “Over the first three years we will also build our multi-channel and international capability. This will develop M&S into an international multi-channel retailer, making the M&S brand more accessible to more customers around the world.” Marks & Spencer to revamp stores and push own brand
Marks & Spencer is to spend £900m shaking up its UK operations and embarking on a fresh expansion overseas, including in China and India.
Six months after taking office, chief executive Marc Bolland is unpicking some of the legacy of Sir Stuart Rose, the former executive chairman who leaves the company before the new year.
Bolland, who joined from Morrisons, today announced plans for an aggressive international push that would significantly cut its exposure to the UK economy.
Under Bolland's much-anticipated strategic review, M&S will also increase its floor space within the UK and redesign existing outlets in an attempt to increase UK revenues by between £1bn and £1.5bn a year by 2014.
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