Posted on 07/09/2008 1:36:49 PM PDT by Stoat
Plunging necklines have been blamed for plunging sales as Marks & Spencer chiefs today came under fire from lady shareholders.
Executives faced complaints from some that its fashions are too young, offering too much cleavage for its loyal older customers.
Investors have been getting worried because the value of M&S shares has slumped in recent days after the iconic high street chain revealed a fall in sales.
And today at the company's AGM at London's Royal Festival Hall, shareholders lined up to offer a diagnosis of what was going wrong.
Marks & Spencer's reinvented fashions have been accused of being 'too young and low-cut' by mature shareholders
Pensioner, Hilary Roodyne said: 'The clothes are not suitable for our age group. The dresses are too low on top and they don't have sleeves.'
Ms Roodyne, who would not give her age, later added: 'They just show too much cleavage and at our age we can't wear that sort of style.'
Another female shareholder complained the store does not provide enough bras.
Elizabeth Sewell said: 'I went shopping for underwear recently and I was told that they no longer stock my favourite style of bra. I was very disappointed and the range of stock is not wide enough.
'They do not cater for all sizes and styles. I also find that clothes are often too small.'
A revival of fashion sales at Marks & Spencer some three years ago was linked to a mult-million pound marketing campaign built around 50-something super-model Twiggy.
More than one in five shareholders refused to back Sir Stuart Rose in one of the biggest City rebellions against the director of a major British company
More recent campaigns fronted by a younger Lily Cole, aged 20, and Myleene Klass, aged 30, have not captured the imagination in the same way.
Shareholder Janet Girsman complained that she has been waiting a year for a phone call from the company to explain why they do not stock more shoes.
'Their shoes do not cater for British women. They are just a world-wide style. They are either too thin or too small and they do not fit properly,' she said.
The company's boss, Sir Stuart Rose, was able to placate the lady shareholders, even offering to host a shopping expedition to show them the error of their ways.
He and his fashion team have good reason to believe that they know more about providing a successful fashion brand than those who attend the M&S shareholder meetings.
Among the eye-popping creations promised in the next few months is a collection from the avant garde and eccentric American designer Patricia Field, who was the stylist on the his US TV series and film, Sex And The City.
Her high-heel stiletto shoes include bondage and leopard skin designs, which are unlikely to appeal to M&S's older clientele.
While her more outlandish offerings include silver mini-dresses, leopard print stretch denim jumpers, 'white trash' necklaces, and metallic purple teeny bikinis.
Sir Stuart, who has previously been hailed as the saviour of the company, has faced a rough ride in recent weeks.
Some have lambasted the performance of sales and shares, while others complained about a decision by the board to make him both the chief executive and chairman.
It is extremely unusual to give this level of power to run a publicly quoted company to one person.
Four years ago, Sir Stuart arrived to head off a takeover by the billionaire boss of Bhs, Sir Philip Green. He subsequently presided over a retail revival that saw profits surge to £1 billion last year.
However, just last week, he revealed that like for like-for-like sales fell by 5.3per cent in the 13 weeks to June 28.
Revealing: Lily Cole models a low-cut dress for Marks & Spencer's Limited Collection
Despite these troubles, Sir Stuart yesterday won overwhelming backing from investors to continue his revamp of the M&S stores and brand.
His elevation to the post of executive chairman - combining the roles of chief executive and chairman - was backed by 94.1per cent of those who voted.
The majority of investors accepted his argument that M&S is the victim of a credit crunch affecting the entire high street.
He said: 'Marks & Spencer is a bit like an early warning system or smoke detector in your kitchen. It has the largest market share of any clothing retailer and the widest geographical spread.
'It listens to its customers and they are saying their purses are pressed. They are saying the cost of living is going up faster than for a long time. They are saying they are feeling the squeeze.'
But the M&S chief pledged to carry on with investment plans such as store refurbishments as it would put the group in a stronger position for a consumer recovery.
Shareholders at the meeting were largely supportive of the retail boss, with one saying Sir Stuart had brought the retailer 'back from the brink of the abyss' since taking over in 2004.
Deputy chairman, Sir David Michels, defended the decision to give Sir Stuart more power, saying: 'He had a job to finish and could do it better than anyone else who was around.
'We are convinced history will show us we made the right decision.'
I’m glad they are finally getting the message! I for one have been scouring thrift shops and goodwills for decent clothing. I’m 50 and I refuse to wear any teen fashion. I recently have acquired a strong taste for anything from the 40’s and 50’s. I have decided to go with what I like and the hell with the fashion trend!
Girl in the last pic is not guilty.
Young Mr. Grace says that there’s nothing at all wrong with plunging necklines and skinny young models, thank you very much.
Miss Brahms, are you free?
The clothes pictured don’t look too bad except for the last girl in the purple dress. I wouldn’t wear it because the neckline is too low.
“too much cleavage”
What do these words mean? They don’t seem to make sense.
Not guilty!
What district do you represent? Cuz I’m pretty sure she’s black.
Young Mr. Grace’s tastes run to shapely blonde nurses in tight skirts and uniform front open down to the waist. ;-) Mr. Peacock enforces the dress code, though.
My girls are teens and look at boys shorts for something decent. At 4 that should be easier.
Land’s End does tend to have more modest stuff. We’ve bought LOTS of clothes from them over the years.
However, Land’s End isn’t what it used to be since Sears bought them out. I’ve noticed a clear decrease in quality.
Okay, I guess we’ll have to call you The Honorable Osage Orange.
Baggies
I agree with everything youve said, however based on the photographs presented, this case, unlike the Nordstrom incident, is without merit. If those fashions arent conservative enough for you, then youre Amish.
Pinkbell said:
The clothes pictured dont look too bad except for the last girl in the purple dress. I wouldnt wear it because the neckline is too low.
Perdogg said:
Shes not dressed like a slut.
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I'm wondering if it could be that the featured and heavily-promoted fashions on display on the sales floor differ from what is typically presented in online catalogs? The lady shareholders apparently have the view that revealing fashions are being excessively promoted, but I agree that 'most' of the catalog pictures, at least in the initial pages, don't look terribly revealing.
Consider also the matter of Nordstrom's, which also features what I would consider unobjectionable ladies' fashions at least in the first few online pages
Women's Apparel Online - Nordstrom
Yet there's an entirely different view from Freeper 3AngelaD, whose view of Nordstrom's appears to be similar to that of the Marks and Spencer lady shareholders:
3AngelaD said:
Nordstrom has gotten a little better, but not much. Your choice is still pretty much look like a hooker, or a waif, or look like someones Granny in a knit suit. Their casual clothes are fine, but it takes forever to find something there that is attractive, professional looking, but not revealing. Dont get me started. For instance, women over the age of 14 should not wear pleated skirts. It makes their butts look huge regardless of what size they are. So of course Nordstorm has 10 different jackets that I would like to own but only offers pleated skirts with them. Or their wide selection of blouses with little cap sleeves that make anyone who weighs more than 115 pounds look like she has overstuff-sausages for arms. I could go on, but you get the picture. Nordstrom gets a lot of my money for shoes and hand bags, but not a lot for clothing any more. I am over at Bloomingdales and Neimans, and maybe Saks.
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Being a male stoat and I confess, not a terribly fashionable one, I haven't really paid attention as to whether there's a big difference between what's heavily promoted in-store versus what's in the catalogs and the online sites in terms of ladies' fashions.
Has anyone noticed a significant difference in these sales mediums in terms of what's offered? The Marks and Spencer lady shareholders and 3AngelaD appear to suggest that there may be.
I’m appalled at some of the styles of clothing that are offered in larger sizes, like tube tops, halters, and above the knee skirts.
Some clothes just should not be made in some sizes.
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