Commentary on M&S Q1 2015 Trading Statement
Julie Palmer, Partner at Begbies Traynor said:
“While CEO Marc Bolland will be buoyed by another quarter of steady sales in M&S’s food division, unfortunately the retailer’s general merchandise operation continues to lag behind the competition, disappointing investors. When Bolland took over the helm in 2010 he set out to overhaul the Group’s clothing division and boost sales volumes, but aside from a surprise uptick during Q1 2015, like for like sales have yet again come in below expectations.
Unpredictable British weather has dampening fashion retail demand, but pressure is mounting for Bolland to come good on his promises and focus more on increasing margins through supply-chain savings and shifting away from heavy discounting.”
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and the None Administrative Receivers Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.