M&S hires security specialist to stop leaks

Ailing high-street giant Marks & Spencer has hired a security specialist in a bid to stop sensitive sales figures being leaked to the press, it emerged today.

The company, which has a former head of MI5 among its non-executive directors, said a team of investigators was trying to track down the source.

Confidential figures released recently have highlighted just how far clothing sales at M&S have fallen, causing acute embarrassment to the board.

Last weekend, a document leaked to a Sunday newspaper showed that sales of womenswear in the first part of the financial year were down 15% just two days before M&S presented its annual results to the City.

M&S chairman and chief executive Luc Vandevelde admitted clothing sales across the business were "unacceptable" as he reported a 7% drop in profits.

Today, an M&S spokesman said: "The leaks have been going on for the past few years, and it does hurt the company.

"There are a mixture of internal and external people looking at it to stem the leaks or stop them."

It is not known what role Stella Rimington, the former head of MI5 and currently chairman of M&S' remuneration committee, will play in the search.

The spokesman added the number of suppliers being provided with weekly sales data was also being cut back to a need-to-know basis.

M&S reported pre-tax profits of £480.9 million last Tuesday, just three years after making £1 billion.

Mr Vandevelde said he was still confident M&S could turn the corner, and that the clothing performance would improve.

M&S is sending a pre-season catalogue to 50,000 of its customers to help finalise plans for upcoming clothing ranges.

The customers will be given the chance the buy the clothes months before they appear in the shops and at a discount.

The M&S spokesman said the move would help the retailer make "better buying decisions" before the ranges actually hit the store.

He added: "It's all part of getting closer to customers and understanding what they want."

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