Marks and Spencer Group plc (04256886) is a major British retailer listed on the London Stock Exchange and member of the FTSE 100 Index.
Founded in 1884, M&S forms a significant element of the UK’s retail fabric operating across 1,025 stores and employing circa 85,000 people. The company specialises in the selling of clothes, home products and luxury food under its Foodhall and M&S Simply Food formulae.
The company is rated the highest score of 5A1 by Dun & Bradstreet representing a ‘minimum risk of business failure’.
Marks and Spencer has an optimistic outlook with significant management changes and restructuring gaining momentum. The new chairman, Archie Norman, promised radical change and a five-year transformation of M&S’s business in order to ensure longevity and growth. Retail veteran Steve Rowe is the new CEO, Jill McDonald (former Halfords boss) is in charge of the clothing and homewares business and Stuart Machin pledged to lead a radical shake up of the Foodhall business. M&S is now trialing delivering Foodhall in as little as an hour from some stores while Collect By Car shopping has consolidated M&S’s omni-channel approach to retailing.
M&S has a very strong brand and it comes top in almost every metric on the YouGov BrandIndex, beating competition including John Lewis, Sainsbury’s and Next. The latest set of half year sales results for M&S, for the 26 weeks to 30th September 2017, delivered an optimistic outlook.
The latest accounts for the year ending April 2017 show:
Group revenue up 2.6%, compared with an increase of 0.9% for the same period in 15/16.
Clothing and home sales up 5.3% due to better product at lower prices, fewer promotions and two fewer clearance sales.
Food sales up 4.4%, compared with the same period in 15/16, driven by 24 new Simply Food store openings.
UK costs up 4.2% due to new space, investment in improved service and tackling legacy pay and pension issues.
50 George Street
London W1U 7GA