M&S to announce strategy to turn round business

Marks and Spencer will next month announce its strategy for turning the business around and fending off any takeover bid from Philip Green.

Chief executive Stuart Rose will give the update on July 12, two days before its annual meeting. A statement said M&S would set out plans to improve operating performance across the group and give an update on current trading.

Analysts said that Rose wanted to demonstrate that he had the situation in hand and it was likely that his timetable was a little faster than usual because of the pressure of a renewed bid from Green.

Analysts also expect Rose to drop or scale back Simply Food, M&S’s venture into pure food stores.