M&S has named a new e-tail head as it works on a £1bn recovery plan that involves ramping up its e-tail operations, selling clothing via Ocado and adding third-party brands to its webstore and physical shops.
M&S has plans to hibernate some of its SS20 stock as it reveals a big sales hit due to the pandemic. But the firm is upbeat and says Clothing & Home is progressing, even though fashion retail will change post-crisis.
M&S has surprised the fashion retail sector by saying that its new managing director of the under-pressure Clothing & Home unit will start earlier than expected. Richard Price will join the retail giant on July 6.
Marks & Spencer is donating thousands of T-shirts bearing the message “We are the NHS” to dress staff and volunteers at temporary hospital NHS Nightingale London. And over 4,000 pyjama sets will be donated as scrubs.
Trading stayed challenging at M&S in Q3 with the retail giant reporting just a 0.2% like-for-like sales rise and a total UK sales fall of 0.6%. Yet while Clothing & Home was down, at least the rate of decline slowed.
M&S is reportedly planning to downsize the space it controls in around 20 of its largest retail locations with under-used upper floors potentially being converted into offices or even residential space.