Marks and Spencer a well known high street store that first opened in 1884 founded by two brothers their business grew from an market stall into an well known brand. Over the years their business relied on middle class customers for business St Michael's range was the by word for luxery goods.
But in recent years have seen their main custom base the middle class cut back on their spending clothing sales have dropped dramatically M&S then they tried to break into the food market with high end goods and foods in attempt to woe back the middle class but this didn't stop the decline . M&S have already closed some of their stores though out the country in the early 2000s many changes have been tired like getting in well known designers for an more up to date clothing also changing the company management all in vain. M&S have recently rolled out as ' Simply Range' goods which in reality is the same has Tesco's ' Everyday Range' but still profits fall.
Now M&S are planning to close 60 stores and make smaller stores into food only shops they face an uphill struggle has Aldi and Lidi dominant the food market can M&S survive in this economic climate or will they join the likes of BHS?
Topic: Is Marks and Spencer set to follow BHS? (Read 2973 times)