M&S chief executive Marc Bolland
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M&S chief: Company has developed 'international position'

Marks & Spencer has improved its "international position" despite reporting a 3.9% fall in underlying annual profit, chief executive Marc Bolland has said.

It is the third consecutive year that the company's profits have fallen.

Mr Bolland explained that while general merchandise "is not yet satisfactory", there had been heavy investment to make the retailer "fit for purpose" since he took the helm in 2010.

First broadcast on BBC Radio 4's Today programme on Tuesday 20 May.

  • 20 May 2014