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The Marks and Spencer Case.
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| Submitted: Mon Jun 19 2006
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THE MARKS AND SPENCER CASE Introduction Marks & Spencer has existed since 1884 (when it was founded as a market stall by Marks); it became a partnership in 1894 when Spencer - a clerk for a clothing company, Dewhurst, which is still a major supplier for M&S - joined him. They moved in food in 1931; opened their first European store (in Paris) in 1975; and went into finance with their charge card in 1985. Their group turnover is £8bn, on which they make £1bn profit (a very high profit/turnover ratio compared to other retail stores). They have 68,000 employees, and serve 15m customers per week. Their UK business provides 90% of their turnover, half from food and half from other sources. Their finance division is currently tiny, but growing rapidly. 300 out of 379 stores are in the UK; their European stores are run as franchises; they also have US...
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