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Plunging necklines blamed for plunging sales by female M&S shareholders (Marks and Spencer in UK)
The Evening Standard (U.K.) ^ | July 9, 2008

Posted on 07/09/2008 1:36:49 PM PDT by Stoat

Plunging necklines blamed for plunging sales by female M&S shareholders

Last updated at 19:42pm on 09.07.08
 

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

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.

Sir Stuart Rose

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.

 
Lily Cole Marks & Spencer

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.'



TOPICS: Business/Economy; Culture/Society; News/Current Events; United Kingdom
KEYWORDS: clothes; clothing; conservatism; fashion; ladies; ladiesfashion; ladyshareholders; marksandspencer; marksspencer; necklines; shareholders; sharholders
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To: metmom
Definitely not the same product. I used to rely on them for quality women's clothes and children's clothes at very fair prices. I still have some of my BS (Before Sears) clothes and they still look good for all the washings. My older turtle necks are soft and still retain their colors. The old pima polos are still my favorites.

Yup! I also LOVE Vermont Country Store. They have so many things of quality and selection. Clothes, linens, shoes, cosmetics, gadgets, right down to penny candies from our childhood. The quality is outstanding.

41 posted on 07/09/2008 2:31:28 PM PDT by Constitutions Grandchild
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To: Constitutions Grandchild

My husband has bought their classic twills for years. We have some that are over ten years old and still going. The newest ones we’ve bought in the last year, have all frayed around the hems and seams. No abrasion resistance at all. They look older than the old ones. Horrible quality.

He’s considering Bean now that there’s an outlet store in our area.


42 posted on 07/09/2008 2:48:29 PM PDT by metmom (Welfare was never meant to be a career choice.)
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To: Nonstatist

Guilty.


43 posted on 07/09/2008 2:51:32 PM PDT by OKSooner
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To: metmom

I can’t tell you the stuff I’ve found through their catalogs and website. Deerskin shoes so soft and comfortable (reasonably priced), summer weight flannel sheet blankets, dresses, (I even have hubby convinced they have things he will love and he’s Mr. Brooks Brothers, never met a major label he doesn’t like.)

I’ve never been one to want anything more than quality at a reasonable price and certain products I can’t find in retail stores anymore. We all look forward to the catalog when it arrives.


44 posted on 07/09/2008 2:52:56 PM PDT by Constitutions Grandchild
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To: metmom
"Some clothes just should not be made in some sizes."

I know what you mean.


45 posted on 07/09/2008 2:53:23 PM PDT by Pinkbell (Don't blame me, I supported Duncan Hunter.)
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To: lesser_satan
The black chick, second from the left in the first pic

Glad you identified which one she was. :-)

46 posted on 07/09/2008 2:53:42 PM PDT by Larry Lucido
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To: Pinkbell

Great example.

I can’t believe the camera survived.


47 posted on 07/09/2008 2:59:44 PM PDT by metmom (Welfare was never meant to be a career choice.)
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To: Larry Lucido

I suppose that was a bit redundant.


48 posted on 07/09/2008 3:01:56 PM PDT by lesser_satan (Cthulu '08! Why vote for the lesser evil?)
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To: Constitutions Grandchild
You guy's are whacked.....

That girl could be Hispanic.

That girl could be from the Figi Islands or Tahiti.

That girl could be Filipino.

That girl could be Hawaiian.

That girl could be of M.E. blood.....

Etc. etc..........

Black?

I ain't a Congressman....! Ha!!

49 posted on 07/09/2008 3:03:07 PM PDT by Osage Orange (DO NOT POST TO ME AGAIN...!!!)
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To: Stoat

Last time I went to the UK my luggage was somehow diverted to another location and I had to do some clothes shopping. All I have to say is that Marks & Spencer sells much higher quality underwear than similar US stores.


50 posted on 07/09/2008 3:04:23 PM PDT by wideminded
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To: Osage Orange

Not Hawaiian. Racial-mix, but one of the partners was Negroid — she’s a beauty no matter how she came by it, Senator Orange. ;-)


51 posted on 07/09/2008 3:15:37 PM PDT by Constitutions Grandchild
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To: Constitutions Grandchild
Not Hawaiian. Racial-mix, but one of the partners was Negroid — she’s a beauty no matter how she came by it, Senator Orange. ;-)

Obviously...you are much smarter than I.

: )

And if you are going to call me Senator....salute me, peon!

52 posted on 07/09/2008 3:28:48 PM PDT by Osage Orange (DO NOT POST TO ME AGAIN...!!!)
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To: Nonstatist
yuk...
53 posted on 07/09/2008 3:35:16 PM PDT by Chode (American Hedonist ©® - CTHULHU/SHOGGOTH '08 = Nothing LESS!!!)
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To: RoseofTexas

I love the 40s and 50s fashions, too. Maybe it’s from watching too many old movies.

The women’s wear was flattering without being revealing. Being sexy isn’t all about showing skin, IMHO. Sometimes what isn’t seen is more intriguing than what is seen.


54 posted on 07/09/2008 3:41:24 PM PDT by Disambiguator
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To: Stoat
That Holocaust diet seems to be working pretty well for those models. Perhaps if they threw up a few more times they could look a bit thinner??

Pray for W and Our Freedom Fighters

55 posted on 07/09/2008 3:41:24 PM PDT by bray (Drill Congress!!)
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To: Stoat
Most revealing line in the article:

'[Marks & Spencer] 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.'

I think the M&S Directors are feeling it, too.
56 posted on 07/09/2008 3:47:39 PM PDT by WorkingClassFilth (Don't cheer for Obama too hard - the krinton syndicate is moving back into the WH.)
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To: wideminded

What a coincidence. While packing for a buiness trip to the UK a few years ago I managed to foget underwear. M & S was the closest store so I bought a few pair. I found them to be so much better than our domestic product that I completely restocked my underwear drawer over my next couple of trips. The present weakness of the dollar is going to make replacements a bit dear though.

Namsman


57 posted on 07/09/2008 3:47:43 PM PDT by namsman
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To: RoseofTexas

Good taste for clothing and good choice for an era. If you can fill it, wear it.

My choice for the most beautiful woman and the best cheesecake in all of history:

http://nfo.net/graphics/RitaHayworthWW2.jpg


58 posted on 07/09/2008 3:54:29 PM PDT by WorkingClassFilth (Don't cheer for Obama too hard - the krinton syndicate is moving back into the WH.)
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To: WorkingClassFilth

Rita Hayworth=Redheads rule!


59 posted on 07/09/2008 4:14:32 PM PDT by Tamar1973 (Catch the Korean Wave, one Bae Yong Joon film at a time!)
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To: Tamar1973

Shalom!


60 posted on 07/09/2008 4:21:32 PM PDT by WorkingClassFilth (Don't cheer for Obama too hard - the krinton syndicate is moving back into the WH.)
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