Sparks flies: how frumpy Marks & Spencer became fashionable again

  • September 3, 2023
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Four years ago the venerable retailer fell out of the FTSE 100, suffering a humiliating blow to its prestige. But now it has turned things around

It’s four years to the day since Marks & Spencer dropped out of the FTSE 100 for the first time since the City share index’s 1984 inception.

It was a major blow for one of the UK’s biggest retailers – and symptomatic of a series of existential problems it faced. Share prices were close to a 20-year low; annual profits had slumped to less than £100m. But for newly appointed company chair Archie Norman, these figures were far from the only concern. Upon taking up his position, Norman promised a radical shake-up to fix the drifting business.

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