Marks And Spencer

a short preview of this essay with formatting tally for you to read Have a little read: ... The cram and clear of Marks and Spencer ---Financial Analysis ! BACKGROUND - M& antiophthalmic factor;S FINANCIAL POSITION In 1997, the M&type A;S Chairman, Richard Greenburys dream came true when M& ampere;S were named as the first British retailer to break by dint of the £1bn shekels barrier. (Bevan, 2007) states...In the previous five years profits had come up 87%, earnings per deal out by 98% on gross revenue up by wholly 35. However, this was to be the peak in the first place the furious period of the next few years. By November 1999 M&S profits fell from £337m to £192m and for the first while the companys food market share in clothing fell. One of its main(prenominal) rivals - Arcadia benefited with a go up in market share from 6.2% to 8.2% with succeeding(a) also showing a rise in market share from 3.9% to 4.5% for the same period. It was almost this time that S alsbury, CEO embarked on another restructure of the organisation, rending it into 7 business units - and the share price sank even further. chase poor Christmas sales in 1999, the company announced its St Michael filth would be minimised on labels, and in that respect was to be a bran-new design of carrier bag. The new Autograph appeal was also announced and proved initially popular. However, this did not last.

some customers complained that Autograph items were too expensive and by 2001 the range had do no money. During this period, Salsbury increased spending on marketing, culminating in a disastrous TV ad play using a plus-size model. Bevan (2007) states...if ever there was a suggest that the new counsel at M&S had! lost the plot, the fecund lady ad was it. Salsbury left by September 2000. In the run up to Christmas 2000, the companys rivals Matalan, Next and Arcadia proceed to increase sales and profits, and when the figures emerged in January 2001, M&S sales were 5% lower than at Christmas 1999. The new period of UK retail, Roger Holmes challenge was to restore...If you require to get a full essay, range it on our website: OrderEssay.net

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