Essay on Marks and Spencer - Performance and Position
Project Report on the Analysis of the
Performance and Position of
Submitted To: Submitted By:
Table of Contents
Chapter Page No.
3. Financial Performance
4. Social and environmental policy
5. Plan A
7. A New Store Format
10. Head Office Locations
12. Store Formats
13. Senior Management
Marks & Spencer (M&S) is a major British retailer, with over 840 stores in more than 30 countries around the world, over 600 domestic and 285 international. It is the largest clothing retailer in the United Kingdom, as well as being a food retailer, and as of 2008, the 43rd …show more content…
The first M&S store in central Asia was built in Kabul, Afghanistan in the 1960s. The store was later shut down.
M&S expanded into Canada in 1973, and at one point had 47 stores across Canada. Despite various efforts to improve its image, the chain was never able to move beyond its reputation there as a stodgy retailer, one that catered primarily to senior citizens and expatriate Britons. The stores in Canada were smaller than British outlets, and did not carry the same selection. In the late 1990s, further efforts were made to modernize the stores and expand the customer base, and unprofitable locations were closed. Nonetheless, the Canadian operations continued to lose money, and the last 38 stores in Canada were closed in 1999.
Expansion into France began with stores opening in Paris at Boulevard Haussmann and Lyon in 1975, followed by a second Paris store at Rosny 2 in 1977. Further expansion into other French and Belgian cities followed into the 1980s. Although the Paris stores remained popular and profitable, the whole of the Western European operation did not fare as well and 18 stores were sold in 2001.
M&S's profits peaked in financial year 1997/1998. At the time it was seen as a continuing success story, but