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In 1997 Marks and Spencer's made £1.1 billion profit, which fell to £655.7 million a year later.
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| Submitted: Tue Aug 26 2003
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44% Fall in profits in 6 months. How could this happen to one of Britain's leading stores. In 1997 Marks and Spencer's made £1.1 billion profit, which fell to £655.7 million a year later. Marks and Spencer's is a large British company that has had a consistent record of success and profitability until around 1997. Since 1997 is sales have plummeted which lead to a large decrease in profit. Marks and Spencer's was the store that everyone turned to for basics, from underwear to ready meals. They did this without advertising or accepting credit cards. It was thought that they could never fall from the top spot. They are now trying to find out what has gone wrong and how they could solve their problem. I am going to see what could have been the cause of Marks and Spencer's fall, and to see how effective the steps that they have taken to...
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