Marks & Spencer is to match the food and clothing ranges in its British shops to the wealth, age and ethnicity of the local area, as part of a £600m overhaul to make its stores “more inspiring” places to shop.
Retailers Cautiously Optimistic Ahead Of Christmas Countdown
October 11, 2010 By Leave a Comment
As retailers, count down the crucial trading weeks between now and Christmas, store chiefs, have sounded a cautious note on the outlook for consumer spending, but sought to quash fears of a
Morrisons to open convenience stores
September 9, 2010 By Leave a Comment
Supermarket chain Morrisons is to open its first convenience stores next year, and may finally branch out into internet shopping. Chief executive Dalton Philips announced details of his new strategy…
Marks & Spencer says worst of recession is over
May 25, 2010 By 1 Comment
Marks & Spencer chairman Sir Stuart Rose declared today that the UK has come through the deepest ravages of the economic turmoil. Speaking after M&S posted profits of £632.5m for the last financial year, Rose said he was not worried about the UK falling into a double-dip recession. “Marks & Spencer has had a good [...]
Marks & Spencer finance chief quits a day after arrival of new boss Marc Bolland
May 5, 2010 By 1 Comment
The finance director of Marks & Spencer has quit – a day after Marc Bolland took over as the retailer’s new chief executive. Ian Dyson, who had been viewed as the favourite internal candidate for the top M&S job, has resigned to become chief executive of Punch, Britain’s biggest pubs group. It is understood that [...]
£15m package for new M&S Boss! You gotta be kidding!!
February 1, 2010 By Leave a Comment
Marc Bolland has been described as a ‘safe pair of hands’. Photograph: Ian Nicholson/PA
Marks & Spencer‘s new boss Marc Bolland is to receive a package worth a potential £15m as part of the deal that has lured him from rival Morrisons.
The former Morrisons chief executive has been released six months early from his 12-month contract with the supermarket and is to take the reins at M&S on 1 May.
His £975,000 salary is just shy of current boss Sir Stuart Rose’s £1.13m basic pay, but M&S said it would pay cash and shares awards worth up to £6.3m – including an “exceptional” long-term incentive award worth 400% of his salary in the first year.
Bolland will also receive £7.5m in cash and shares as compensation for payments he would have received under Morrisons incentive schemes.
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