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.

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

Recommended

Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022
These 3 top value stocks offer
Share tips

These 3 top value stocks offer

Professional investor Adam Rackley of Cape Wrath Capital highlights three overlooked value stocks to buy.
29 Sep 2022
Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022

Most Popular

Why everyone is over-reacting to the mini-Budget
Budget

Why everyone is over-reacting to the mini-Budget

Most analyses of the chancellor’s mini-Budget speech have failed to grasp its purpose and significance, says Max King
29 Sep 2022
How the end of cheap money could spark a house price crash
House prices

How the end of cheap money could spark a house price crash

Rock bottom interest rates drove property prices to unaffordable levels. But with rates set to climb and cheap money off the table, we could see house…
28 Sep 2022
What to do as the age of cheap money and overpriced equities ends
Investment strategy

What to do as the age of cheap money and overpriced equities ends

The age of cheap money, overpriced equities and negative interest rates is over. The great bond bull market is over. All this means you will be losin…
29 Sep 2022