To save itself, Marks and Spencer must choose between clothes and food
The stark choice facing CEO Steve Rowe and his chair Archie Norman is to stick with the current formula, which clearly isn’t working, or to split it right down the middle, writes Chris Blackhurst
On the day that Marks and Spencer disclosed another set of dismal results, I travelled from southwest London to Cumbria for my mother’s funeral. She was devoted to M&S, so much so that my father once bought her shares in the chain as a present. What she liked was popping into the local store for food on her way home from the school where she taught. We were kitted out in M&S clothes – I can’t recall us wearing any other brand when I was a child.
Back to the journey’s beginning. Near where I live in London there’s a M&S food hall. It’s constantly busy, appealing to people of all ages. Since it arrived, the neighbouring specialist food shops have suffered, and some have closed. It’s noticeable though that the same folk who said that would happen when M&S’s plans were first mooted are to be found in its queues with full baskets.
Cut to Euston station. There, on the edge of the concourse is another M&S, also selling only food. It’s doing a roaring trade with those heading for trains to the midlands, northwest and Scotland, seeking sandwiches and snacks for the journey; likewise with commuters going home wanting an evening meal.
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