Marks & Spencer CEO Sir Stuart Rose has predicted a tough Christmas following poor like-for-likes in the UK down 6.1%. The retailer plans to focus on offering better value and more promotions across the business as well as controlling costs to stave off any further decline in its like-for-like figures. On a more optimistic note, Rose expects customers to dine in more, which he believes will be beneficial to M&S.
“As long as we have the availability and show them we have the right things, we will fight our corner.” The retailer plans to scale back spending by 50% over the next two years and divert leftover resources to technology.