MEDIA: What The Papers Say - Press relishes the bad news from M&S

The presentation of Marks and Spencer’s half-yearly results was trailed as promising bad news, and there was some relish in reporting it.

The presentation of Marks and Spencer’s half-yearly results was

trailed as promising bad news, and there was some relish in reporting

it.



The press went beyond Sir Richard Greenbury’s partial explanation of the

bad news, which he termed as a general clothing-retail ’bloodbath’, with

the tabloids recruiting shoppers as expert witnesses to support a

picture of a retailer losing out on quality, style and presentation.



Efforts to turn the media’s attention to strategic investment as a

contributor to the profit slump were unsuccessful, and that argument was

weakened by the fact that expansion was put on hold. Revelations of loss

of market share and cutbacks at British suppliers all added to the

general embarrassment.



By the weekend, the issue of Greenbury’s successor had become the main

story as candidates for CEO made themselves known. It would be unfair to

claim that Sir Richard made excuses, but that was seen as part of the

problem - his frankness about failures with the products surprised some

journalists.



Evaluation and analysis by CARMA International.Cuttings supplied by the

Broadcast Monitoring Company. ’What The Papers Say’ can be found at:

www.carma.com.



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