What is Marks & Spencer?
The Marks and Spencer Group (M&S) is a world-famous British retailer with almost 1,500 stores and its own ecommerce platform called M&S.com. The company operates both in the U.K. and internationally, offering its upmarket food, clothing and homeware products to customers across the globe. Its U.K. turnover is split 60% Food and 40% Clothing & Home.
There are a number of different Marks & Spencer store formats, ranging from core shops that feature both food and clothing, to convenience stores and outlets on retail parks. M&S Bank, its former financial services division, has been operated by HSBC since being sold in 2004.
Who are the key people at Marks & Spencer?
Steve Rowe has been Chief Executive Officer of Marks & Spencer since April 2016. The appointment was the culmination of a long career with the company that stretches back to 1989. Other key figures at M&S include Chairman Archie Norman; andPatrick Bousquet-Chavanne, who is Executive Director of Customer, Marketing & M&S.com.
What is the modern history of Marks & Spencer?
The company, founded in 1884 by Michael Marks and Thomas Spencer, has traditionally emphasised quality and British-made goods. It entered into long-term relationships with U.K. manufacturers and sold most of its products under the St Michael label until 2000. M&S expanded cautiously to other countries, opening its first stores in continental Europe in 1975.
Profits peaked in 1997/98, when M&S became the first British retailer to make a pre-tax profit of over £1 billion. But then a sharp decline set in. In response, the business introduced numerous innovations including an online shopping service in 1999, a new Per Una clothing range in 2001, and the launch of the Simply Food convenience format in the same year.
What are the latest developments at Marks & Spencer?
The story of Marks & Spencer in recent years has been one of declining clothing sales but a stronger performance by the food segment. Store closure programmes were announced in July 2015 and November 2017, with the aim of shutting smaller and less profitable outlets.
In its results for the year to April 2017, Marks & Spencer reported total revenues of £10.62 billion – slightly higher than its £10.56 billion the previous year. But group operating profit was down to £690.6 million from £784.9 million the year before, and basic earnings per share were also lower, at 30.4p to the previous year’s 35.0p.
The Marks & Spencer share price, which reached an all-time high of 743p in May 2007, crashed to just over 200p during the global financial crisis. A recovery followed, but since May 2015 the shares have been heading generally south again. At the start of April 2018, they stood at 268p. To find out how the shares are doing right now, follow Capital.com. Our MKS chart puts all the information at your fingertips.
Where does Marks & Spencer operate?
Marks & Spencer is headquartered in London and has other head office sites across the U.K. The company operates in Europe, the Middle East and Asia. In its U.K. home market, M&S has over 1,000 stores, and overseas it has another 450 or so. In total, M&S operates across 50 international territories. The company has around 85,000 employees.
Where is Marks & Spencer traded?
Marks & Spencer is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100. As of 29 March 2018, the company was ranked no.100 in the index, with a market capitalisation of £4.39 billion. Check out Capital.com for the latest MKS chart. We’ll keep you up to date and in the picture.