M&S Chairman Tells Investors 'There's No Quick Fix'
Shareholders in Marks & Spencer should not be overly concerned about its financial results over the next two years because those numbers are not that important to the clothing and food retailer's future, its new chairman has told them.
Retail veteran Archie Norman joined M&S as chairman in September last year, and two months later, the company detailed its latest attempt at a turnaround after more than a decade of failed reinventions.
The plan included a five-year programme of store closures and relocations to cut excess selling space in its clothing business, increased technology investment, and moves to make a misfiring food business more competitive.
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