
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.
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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.
M&S’s powerful recovery story continued over the Christmas period with the UK retail giant saying Thursday that constant currency sales rose 18.6% year-on-year and 8.9% compared to two years ago.
Speculation is buzzing around M&S at present with hints that CEO Steve Rowe may step down within the next couple of years and even that the company could be a bid target.
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.
M&S has been continuing its long-awaited recovery in recent months and its half-year results for the period to October 2 on Wednesday showed just how far it has come.
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”.
Following good news for Marks & Spencer management (and its shareholders) last week, there’s now upbeat news for its 70,000 staff this week, with the UK retailer giving them Boxing Day off this year.
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.