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Can Marks & Spencer Regain its Lost Ground?

Can Marks & Spencer Regain its Lost Ground?
Case Code: BSTR550
Case Length: 13 Pages
Period: 2013-2017
Pub Date: 2018
Teaching Note: Available
Price: Rs.300
Organization: Marks and Spencer plc
Industry: Retail
Countries: UK
Themes: Turnaround Strategy
Can Marks & Spencer Regain its Lost Ground?
Abstract Case Intro 1 Case Intro 2 Excerpts

Introduction

In the last three months of 2017, iconic British retailer Marks and Spencer plc (M&S) witnessed a slump in its shares after it reported a steep fall in clothing and food sales. M&S reported a 2.8% fall in like-for-like clothing and home sales at its stores over the 13 weeks up to December 30, 2017, while food sales dropped by 0.4%. However, the retailer attributed the drop to the warm October weather in the UK. According to some analysts, M&S had disappointed with its food performance as rivals such as Tesco plc (Tesco), Aldi (Aldi), and J Sainsbury plc (Sainsbury) had witnessed a sales boost with shoppers hunting for cheaper options due to rising inflation. CEO of M&S Steve Rowe (Rowe) insisted the retailer was on the road to recovery despite a worsening sales performance in both its clothing and food aisles."We do remain on track. We’ve made some costly but necessary decisions, so profits are down but they are in line with expectations."...

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