Rose is halfway through his three-year turnaround plan laid down to shareholders after he fended off a 400p takeover bid from billionaire Philip Green last year.
According to FashionTrak data obtained by Retail Week, in the 24 weeks to August 21 M&S's clothing share was 9.4 per cent - the same as in the 24 weeks to July 24. In the corresponding period to August last year, M&S had a 10.1 per cent share.
Rose would not comment on sales ahead of next Tuesday's trading statement. However, the retailer's share price was hovering around 380p on Wednesday as Retail Week went to press, compared with 350p in October last year. Some City sources said this could reach 400p by Christmas if next week's figures outperform the rest of the glum retail sector.
On Monday, Marks & Spencer opened a 26,700 sq ft (2,480 sq m) new-look store at the Cardinal Place development near London's Victoria. Rose said a total of between 30 and 35 M&S outlets will receive the redesign by the end of the year, including shops at Coventry and Tamworth.
In a first for M&S, the outlet offers electrical gadgets across seven product categories, such as mobile phones and digital radios and cameras. The range was due to be launched yesterday in 58 stores. 'There is such a plethora of choice in the market, what we hope to achieve is a tailored range selected from some of the market leaders,' said a spokeswoman.
No comments yet