New M&S boss Steve Rowe “faces baptism of fire”, according to The Guardian as it prepares to announces a new slump in clothing sales of 3% in last quarter. “A fresh slump in clothing sales at Marks & Spencer will push its new boss to reveal how he plans to turn around the serially underperforming division when he faces the City for the first time this week”, writes the paper.

The Telegraph says the high street retailer’s general merchandise sales are forecast to dip by 4%, while food sales are likely to be flat, despite gaining market share. The Times (£) predicts a 3.4% general merchandise fall under the headline “New boss set for same story in next M&S quarterly update”. The Daily Mail writes: “The new boss of Marks & Spencer is under pressure to hone his fashion credentials and turn around its flagging womenswear sales.” Rowe takes over after Marc Bolland’s six years at the helm this week.

The Guardian looks at some of the challenges facing Rowe, writing: “During his six-year tenure, Rowe’s predecessor dragged M&S into the 21st century, modernising its ancient supply chain and embracing the internet. But while its food halls throng with shoppers, clothing is still the problem child.” (The Guardian)

Writing in The Observer, Rob Davies says “M&S won’t miss Bolland’s dress sense”. He writes: “Six years on and M&S seems no closer to winning back the hearts and wallets of clothes shoppers, particularly in women’s fashion. Poor results have been blamed on factors such as weather that was either too wet or too warm, depending on the season.” (The Guardian)

Elsewhere, Ocado is moving closer to launching in the United States after signing a deal with a leading logistics company. Ocado has hired Mace to advise it on how it should it make its American debut. (The Times £)

The “heavily criticised” boss of Premier Foods could walk away with £7m from the sale of the Bisto gravy maker to an American raider. The bonanza for Gavin Darby would come from shares and options accrued during his three years at the food producer. (The Times £). The Daily Mail says his holding would be worth £7m if McCormick ups its offer to 70p per shares, “However shareholders have criticised his handling of the talks and some suggest Darby should quit if the McCormick deal fails to go ahead.” (The Daily Mail)

The Telegraph looks at “How Mr Kipling owner created a an exceedingly awkward affair”. It writes: “Darby’s Japanese mission has triggered a dispute between the company and its shareholders as well as embarrassing calls for market watchdogs to intervene over his handling of what has been dubbed the Battle of Bisto.” (The Telegraph)

“Aldi cranks up the pressure on the big four supermarkets”, writes The Guardian. “Armed with cheap steaks, award-winning wines and baby food, the discount chain aims to renew its offensive on a struggling retail sector”. (The Guardian)

William Chase, the potato farmer who struck gold with Tyrrells crisps, is set to re-enter the snack market this week with a range of popcorn. The popcorn is being made in a 20,0000 sq ft converted potato shed at the same Herefordshire farm where Chase Vodka is produced. The factory has been fitted with £500,000-worth of new equipment and is staffed by five employees. (The Times £)

Upmarket crisp maker Kettle Foods is planning a major assault on Europe this year, as it aims to increase sales on the continent by 25%. Kettle, with extensive operations in Germany, Belgium, Italy, France and the Netherlands, is to launch in Denmark after signing a nationwide deal with Dansk, the country’s largest supermarket operator. (The Telegraph)

One of Britain’s most popular biscuits is returning to the nation’s shops after a flood-hit Carlisle factory resumed production. Carr’s water biscuits will be delivered to retailers in the next few weeks, having been off the shelves since floodwater inundated the United Biscuits-owned site in the Cumbrian town before Christmas. (The Guardian)

The founders of Fever-Tree Drinks have insisted they are sticking with the business for the long-term, despite selling shares worth nearly £18m last month. (The Daily Mail)

An activist hedge fund has shelved its bet against Morrisons after four months and several million pounds-worth of losses produced by a 30% surge in the supermarket’s stock. Third Point, the New York-based fund, built a short position in Morrisons worth more than £50m at one stage. (The Telegraph)

Top managers at Anheuser-Busch InBev will share a bonanza of more than $350m (£245m) if they hit sales targets set by the Budweiser brewer. The Belgium-based company will pay the windfall to 65 senior staff if the beer giant achieves revenue of $100bn by 2020. (The Times £)

Grocery prices dropped for the fourth month in a row, as shoppers forked out for premium products and supermarkets stepped up a range war. The cost of a basket of 35 popular products, including vegetables, crisps and pasta, has dropped to their lowest recorded level since December 2014, according to (The Telegraph)

Pets at Home has had to postpone the arrival of its new finance chief following an investigation into supplier payments at his previous employer. (The Telegraph)

The Daily Mail looks at the effect of the new living wage after nearly two million workers received a pay rise last week. “But the minimum pay level is already hitting the jobs market and some staff are facing cuts to overtime and perks to make up the cost,” writes the Mail, noting that B&Q has cut other staff payments to help cover the cost of its own controversial pay rise. (The Daily Mail)

A little-known European law set to be enforced from next month could lead to the price of the cheapest packs of cigarettes increasing by 70p. The EU Tobacco Products Directive was adopted in 2014, but has been held up by a series of court cases. A final legal challenge at the European Court of Justice is being led by Marlboro maker Philip Morris and will be decided on May 4. (The Times £)

India’s largest cigarette manufacturer has shut down its factories in the face of a government order to increase the size of health warnings on cigarette packets. (The Financial Times £)