Sales fall and profit takes a hit at Marks & Spencer
Finance head Helen Weir plans to step down as M&S struggles to retain the loyalty of British shoppers
London — Marks & Spencer will speed up store closures after falling sales and cost pressures dragged first-half profit lower on Wednesday, underlining its struggle to retain the loyalty of British shoppers. M&S, one of the best known names in UK retail, said finance chief Helen Weir would leave the business when a successor was found after less than three years in the role. She said she wanted a "more diverse portfolio" of jobs. M&S said it would accelerate store closures, space reduction and relocations for its clothing and homewares business, part of CE Steve Rowe’s five-year turnaround plan which is set to dent short-term profit.
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