M&S is top of the flops as sales fall 5% despite ads splurge
Marks & Spencer suffered a staggering 5 per cent drop in Irish sales over the last year, as shoppers fell out of love with its clothes, despite heavy advertising using pop star Rita Ora, Eurythmic's singer Annie Lennox and Oscar winner Emma Thompson.
"We have taken steps in Ireland. We closed four stores. We actually see in Ireland a better trajectory forward," M&S boss Marc Bolland told investors.
"We've looked at cost management. And also at some innovation on the Irish product that we're having. So, we are treating it absolutely as a positive market.
"We are all determined to stay in Ireland. We've got good store locations and, therefore, the plan is going forward. We're not going to give any outlook what year we will return to a positive number because it is very much dependent on the environment."
Ireland accounts for around a quarter of Marks & Spencer's €1.42bn of international sales.
Sunday Indo Business