Baptism of fire for new M&S boss Rowe

THE new boss of Marks & Spencer is under pressure to hone his fashion credentials and turn around its flagging womenswear sales.

Chief executive Steve Rowe has worked at the High Street giant for more than 26 years, starting as a Saturday boy in its Croydon shop. He takes over today, replacing Marc Bolland, who has retired after six years trying to improve sales. He revealed his plans to leave in Janu - ary after reporting a worse -thanexpected 5.8pc tumble in clothing sales over the Christmas period.

Bolland stepped down on Friday but will act as advisor until the end of June.

Rowe, who has been in charge of clothing and homewares in the past year, having previously run its suc - cessful food division, will face the City for the first time at the retailer’s fourth quarter results on Thursday. City experts predict the trading update, for the 13 weeks to March 26, will show clothing sales have tumbled 3.4pc and food sales to have risen by just 0.3pc.

The 132-year - old retailer has faced criticism for failing to woo shoppers with its womenswear ranges that have been described as poor quality, expensive with unap - pealing and unflattering designs.

Around 20 years ago the chain had more than 15pc of the British clothing market, but this is now down to around 10pc.

Rowe ( pictured) is faced with improving the desirability of its clothes as well as maintaining the growth of its food division. Last year it had around 4pc of the food market.

Bolland oversaw the improvement of its supply chain, making it more efficient, and the launch of a new website – spending more than £2bn in the process.

A new range of womenswear for the chain is being launched by celebrity Alexa Chung next week . Some critics have questioned the desirability of her designs to M&S’ core mature customers. However this has been proved wrong by a 12,500strong waiting list for some of her items.

But the wider retail sector is struggling and rival Next warned last month that this year could be the toughest since the financial crisis of 2008. Analysts at Nomura explained: ‘Market sentiment appears very pessimistic. Woes have been compounded by the gloomy outlook from Next.’

The City expects M&S’ fullyear profit to have risen 2pc to £674m when it reveals its fullyear results next month. However weaker - than-expected sales growth could dam - age its prospects. Its shares closed on Friday up 1.1p to 407.3p.