Some of Marks & Spencer's biggest investors have warned time is running out for chief executive Marc Bolland to fix the business after another disappointing trading update.
One speaking to the Daily Mail said: ‘It seems to be taking a very long time for the supertanker to turn around. There is no clear evidence Bolland will succeed and the clock is ticking for him.' The retail chief blamed problems ‘bedding in' the new website for holding back a recovery in crucial general merchandise, which includes troubled clothing and home furnishings. Total group sales for the first quarter grew by 2.3% with UK sales up 2%, boosted by a strong performance in food, up 4.2%. But a raft of initiatives aimed at kick starting growth in general merchandise failed to ga...
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