Comment: Give M&S’ new boss a chance before knocking him down

THE markets’ assault on M&S today seems, as ever, excessive.

Did anybody really expect a miracle turnaround in womenswear sales since Marc Bolland’s departure as chief executive?

Did anybody think that, after the successive travails of Luc Vandevelde, Lord Rose and Marc Bolland to revive this ageing dame of the High Street, that Steve Rowe would come up with a miracle cure?

If they did, they were daft.

Rightly, new broom Steve Rowe’s first major outing was cautious and contained nothing bad.

It echoed Dave Lewis’s start at Tesco in many ways, which is no bad thing: cut back excess product lines, focus on lower prices and reduce the cost of the pension scheme.

The bigger issue - widening the appeal of this too-big chain beyond 50-plus females - will take long term, difficult planning.

Give Rowe a chance before knocking him down.