M&S is missing out on a lot of profit, but it seems like the loss in revenue is entirely the fault of the fashion house. If they could pick a unifying theme and stick with it, they could probably build a much more loyal base, which would then earn them more cash, right?
Ask people what they buy in Marks & Spencer and they'll give you two answers: pants and Percy Pigs. These are not bad USPs to have conquered; people will always need underwear and treats. But in a business of this size a business once built upon the universal appeal and timelessness of its fashion line they don't add up to huge profits.
So much is obvious from today's announcement that Marks has suffered a seventh consecutive fall in profits where clothing is concerned (although food sales continue to rise, thanks Percy) a 3.8% drop in like-for-like sales this quarter. Knickers, you might say. Read More