Wednesday February 19, 2020

Marks & Spencer takes its medicine

Turnaround guru Archie Norman is doing the right things at the upmarket retailer, but its problems run deep, writes Andrea Felsted

27th May, 2018
2

Archie Norman, the famed turnaround specialist who is now chairman of Marks & Spencer Group, is hoping for a textbook turnaround of Britain’s biggest clothing store by value.

He is certainly reading from the classic first page: last Wednesday, the company announced £514 million (€587 million) of one-time charges, more than halving pre-tax profit in

the year to March 31.

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