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Bolland to scale back M&S growth target

Marks & Spencer CEO Marc Bolland is expected to admit his plan to add GBP3 billion (USD4.83b) of sales in three years was too ambitious.

The Daily Mail reported that his target, revealed in his first presentation as CEO 18 months ago, is unlikely to be met.

Bolland hoped to increase sales from GBP9.7b in April 2011 to GBP11.5b-GBP12.5b in 2014.

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(Source: Retail Week)