M&S cuts 1,000 jobs as fashion sales dive

neverdespairgirl

No idea - other than I bet it's a fair few quid!

Airwolf1

neverdespairgirl wrote: »

No idea - other than I bet it's a fair few quid!

Exactly, not like he needs the pay rise I reckon.

Airwolf1

The following article is dated 11/07/2007, and it says,

"The chief executive Stuart Rose received £3.6m in salary and bonuses last year, up 68 per cent on a year ago, after a resurgent 12 months for the firm, whose annual profits increased by 28.5 per cent."

http://www.independent.co.uk/news/business/news/mamps-defends-pay-and-bonuses-as-growth-slows-456799.html

amcluesent

>Bit of moneysaving needed there methinks.<

Those ads have boosted M&S sales quite a bit.

Remember when they had the size 16 woman in the ads - sales went off a cliff!

oilit

Rosie75 wrote: »

M&S is a disgrace. They are hardly in trouble, unlike the other high street stores we are hearing about. They made £1 billion profit last year, and say they are down 7%. That still represents a stonking profit, but clearly it is not enough for them and they want to lay off the people who are least responsible for their fall in sales. .

OH PLEASE - so Woolworths are criticized for doing nothing and therefore for closing down and making all staff redundant, and now M&S are criticized for closing non profitable stores. I would say what Rose is doing is prudent. It doesn't matter what last years profits were - as discussed elsewhere they are in debt, and since none of us have a crystal ball that can tell us what the economy is going to be like next quarter - let alone next year I would do exactly the same if I were in his shoes - better to save the company and majority of jobs than to stick your head in the sand and do nothing and lose the whole company as woolworths did (imho)

mean_momma

Geenie wrote: »

I am 50 years old so have had M&S in my life since the excitement of my first bra, 12 years old, Xmas 1970!! ........... I no longer even bother looking, as I know all I will see is badly made, designed rubbish aimed at who I know what?!!

I think the smug 'Your M & S' slogan is trying to tap into collective nostalgia, but for years it has been nothing but a big, impersonal store.

Geenie wrote: »

I gather they are launching a new range aimed at my age group soon......but I am truly not interested any longer

Judging from the Per Una launch, aimed at 15 yr olds, but selling to 50 yr olds, the mind boggles as to what they will come up with......!

BettiePage

amcluesent wrote: »

>list of stores closing<

Must be right chav-towns if no-one there shops at M&S. Croydon...I rest my case!

Bracknell's a chav town.

Oblivion

Airwolf1 wrote: »

The following article is dated 11/07/2007, and it says,

"The chief executive Stuart Rose received £3.6m in salary and bonuses last year, up 68 per cent on a year ago, after a resurgent 12 months for the firm, whose annual profits increased by 28.5 per cent."

Good grief! :eek:

I'm all for rewarding effort, but how can anyone possibly justify earning £9,863 per day just for being in charge of a store chain? That's obscene.

Rather than spurning a pay rise this year, he should be accepting a pay cut.

Dave.

ThinkingOfLinking

johnbfan wrote: »

How many of the staff being lost are temporary part time staff. Our M&S's round here take on Christmas staff and the go after Christmas no matter what.

All the HMV stores in my region let ALL the Xmas temps go; I should know, I was one of them, and some stores even let some temps go early as it just wasn't viable to keep them on. Shame as it was a wonderful job. It's very hard to find something else; been trying since before I left HMV. All these rumours (I know they're only rumours at present but....) about other stores going down are making me nervous as I am only looking for retail at the moment as I should be going back to university in September...

ThinkingOfLinking

They are now trying to make it appear that they do budget foods; I saw an advert poster for their budget bangers and mash for £1.99. That's still a lot more pricey than most budget ranges and besides which, I can MAKE it from scratch for a lot less. They're starting to try and go in the right direction but not going far enough....