M&S to restructure brands
Marks & Spencer is expected to cut its range of own brand fashion labels this week to focus on fewer brands.
It is also expected to scale back its trial of selling branded goods alongside its own brand food products and dedicate more space in stores to homewear.
The speculation comes ahead of M&S’s first half trading update tomorrow (8 November) when chief executive Marc Bolland is due to outline his strategic vision for the retail chain.
The high street chain is expected to report a profit rise of nearly 20% for the half year.
Bolland joined the chain in May from Morrisons and has been conducting an in-depth review of all areas of the business.
He is expected to reveal plans to re-open M&S in Europe a decade after the chain retreated from the continent and sold off its stores.
The trading update is the last that chairman and former CEO Sir Stuart Rose will preside over. HMV chairman Robert Swannell will take over as chairman in January.
Last week the chain unveiled its Christmas advertising campaign starring Peter Kay alongside its regular troupe of celebrities Twiggy, Dannii Minogue and Lisa Snowdon.
