In FY13, M&S’ underperforming womenswear division dragged the Group to a second consecutive decline in annual profits (see SWOT) as UK sales fell 1% overall, with a particularly poor performance in general merchandise – mainly fashion and homewares – where sales dropped 4.1% on a like-for-like basis.
CEO Marc Bolland has installed a new management team to revamp the Group’s womenswear ranges. A new head of general merchandise, John Dixon, was appointed, and former Debenhams CEO Belinda Earl joined as part time style director.
In May 2013 Earl unveiled her first collection for M&S. The clothing ranges unveiled have been billed as a make-or-break moment for the CEO Marc Bolland (see SWOT).
Additionally, as of May 2013 new store formats have been rolled out across 337 stores (65% of total sites) with the remaining due for an upgrade by the end of 2013.