CEO Marc Bolland resigns at Marks & Spencer | RetailDetail

CEO Marc Bolland resigns at Marks & Spencer

CEO Marc Bolland resigns at Marks & Spencer

Marc Bolland, CEO at British chain Marks & Spencer, has decided to resign after it became clear that his plans to re-energize the chain did not catch on.

Turnover slide

Bolland had been with Marks & Spencer since 2010 and was charged with boosting the chain's sales. The once popular British chain has lost a lot of its shine as the years went by and he was asked to rekindle the flame.

 

However, Bolland's new strategies did not seem to catch on and he has now thrown in the towel after a disastrous holiday season. The like-for-like turnover within "general merchandise", Marks & Spencer's most important category, dropped 5.8 % during the holidays, even more than anticipated.

 

Marks & Spencer general merchandise's executive director Steve Rowe will take Marc Bolland's place. He started out as an employee on Saturday and rose the ranks over the past 25 years.

 

Bolland will stay in office until 2 April and will advise until 30 June. After that, he will leave Marks & Spencer.

Questions or comments? Please feel free to contact the editors


Sales of PCs grows for the first time in six years

13/07/2018

For the first time in six years computer sales showed growth again: in the second quarter of 2018 they increased by 1.4%. According to research firms Gartner and IDC, the sales increase is mainly due to growth in business markets.

Retailhub Inspiration Tour: the customer journey becomes very different

09/07/2018

Thanks to Retailhub by RetailDetail, Antwerp has one more unique retail hot spot. Professionals can experience the future of retail in the Benelux' only retail inspiration platform, with 1250 sqm of innovative technology and huge trends.

Breakthrough in Karstadt-Kaufhof merger

05/07/2018

Canadian Hudson’s Bay and Austrian Sigma Holding have not reached a preliminary agreement about the merger of their respective department store chains Kaufhof and Karstadt: the Canadian company says it has only signed a letter of intent.

Alibaba CEO and Belgian PM discuss investment in Liège

04/07/2018

Alibaba founder Jack Ma has discussed a possible investment in Liège, Belgium with the country's prime minister Charles Michel. Afterwards no decisive statements were made by either party.

Toys "R" Us closes American stores amidst reboot hopes

02/07/2018

Final curtains for Toys "R" Us in the United States: all the stores have closed and 30,000 employees are laid off. Against all odds, some however still hope for a second life for the troubled chain.

“The biggest threat for department stores? Mismanagement!” (Maurizio Borletti, Chairman of Borletti Group)

28/06/2018

Are department stores a relic of the past, or do they contain seeds for the future of retail? That is the central question in our interview series ‘A love for department stores’, where we will discuss the challenges and opportunities for the business with a selection of leading voices in retail.