Steve Rowe will next week step down as chief executive of Marks & Spencer after a turbulent six years in the top job, with his internal successor set for a baptism of fire amid a worsening cost-of-living crisis.
After a succession of high-profile CEOs at M&S in the past two decades, the one who finally set the firm’s turnaround on the right path is set to leave the business in late May and will be replaced by an exec 'team'.
M&S is set to increase the minimum pay of its retail staff to £10 an hour. The rise comes as the return-to-form retailer aims to counter labour shortages in its sector as competition for workers intensifies.
After suffering a number of years in the financial doldrums - resulting in its relegation from the London Stock Market’s lead FSTE 100 index last year - M&S is bouncing back after releasing strong results this week.
The race is on to reach retail carbon neutrality. Marks & Spencer is the latest major retailer to offer up an improved sustainability programme, to achieve full net zero “10 years ahead of the government’s strategy”.
British retailer Marks & Spencer is to add more guest clothing and footwear brands to its website, including FatFace and Jones Bootmaker, after an initial wave of brands increased traffic and attracted new customers.