The company will streamline its product ranges in both food and clothing and simplify store layouts Marks and Spencer’s (M&S) new chief executive, Marc Bolland, has outlined his strategy for the business which promises a simpler approach to its own-branded products.
His plan will include making the stores easier to shop in.
The new strategy was announced as the High Street retailer reported half-year pre-tax profits of £348.8m, up from £306.7m last year.
Mr Bolland took over from Sir Stuart Rose earlier this year.
His mid-term strategy sits under the slogan “evolution not revolution”.
In clothing, it said the sub-labels, which include Per Una and Autograph, would be given more “clarity” and “distinctive values”.
It will also lose one of its sub-brands, Portfolio, and take it back under the main M&S label.
In food, the aim is to become a “specialist high-quality retailer”.
Key changes will include cutting the range of non-M&S branded foodstuffs – only recently introduced to the stores – from 400 lines to 100.
These would mainly consist of products which the company itself could not replicate – such as Marmite.
Mr Bolland said he would be adding another 100 “distinctive international brands” which would be exclusive to M&S.
The company also said it would streamline its clothing brands and make the stores easier to shop in.
Longer term, the company plans to add to its 300 stores overseas.
Mr Bolland told the BBC: “For the mid-term we believe we should be more international. We want to put more stores down in places like India, where we already are, but could be stronger.”
He also said the company was thinking of opening more stores in China.
For the six months to 2 October, Mr Bolland said the company had increased sales in both clothing and food – albeit by just over 0.5% – to give the company an 11.2% share of the UK clothing market.
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