Marks & Spencer Group, Britain’s largest clothing retailer, said general-merchandise chief Kate Bostock will step down after reporting the biggest decline in non-food revenue since 2008.
Same-store sales of general merchandise, which is mostly clothing, slid 6.8 per cent in the first quarter ended June 30th, the London-based company said today in a statement. That compares with the median estimate of 11 analysts for a 6.5 per cent decline. Britain’s double-dip recession and record...
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