M&S head of lingerie and beauty quits amid clothing sales slump
Marks & Spencer's head of lingerie and beauty has stepped down after just three months in the job.
Marks & Spencer's head of lingerie and beauty has stepped down after just three months in the job.
Janie Schaffer, who has previously worked as Chief Creative Officer at Victoria's Secret, was appointed in an effort to overturn the British retailer's slump in clothing sales.
A spokeswoman for M&S confirmed she had left the firm but declined to comment further, according to Sky News.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Some reports suggest she wanted more creative input at the company.
The news comes a week after the group announced its seventh quarterly fall in underlying sales of clothing, footwear and homewear.
General merchandise, which includes clothes and shoes, fell 2.2% on a like-for-like basis in the 13 weeks to March 30th.
At the time of the report, Chief Executive Marc Bolland said the company was working hard on improving our performance in general merchandise.
However, he said it would improve sales until July on release of autumn and winter collections.
The new general merchandise management team is led by John Dixon, the former boss of M&S's food business, and Belinda Earl, the former chief of Debenhams and Jaeger.
The company also announced it was set to extend its reach to the Netherlands, Luxembourg and Belgium.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
High earners face £15k income hit by 2029 following Autumn BudgetRachel Reeves’s Autumn Budget means high earners – or HENRYs – are now looking at an income hit running into the thousands. Can you avoid it?
-
Millions underestimate how many paydays are left until retirement - why you should be counting your payslipsKeeping track of how long you will be earning a salary for can help work out how much you need to put into a workplace pension
