Marks and Spencer Group plc
Marks & Spencer is a British multinational retailer headquartered in London, that specialises in selling clothing, home products and luxury food products; the UK accounts for 89.8% of net sales. M&S has 1,463 stores, with 1,035 located across the UK.(Mar.2018) Since 2015, the company has been closing stores in an attempt to combat the general malaise afflicting high street retailing.
Sales break down as follows:
- 54.9%: Food products;
- 34.9%: Clothes, hygiene products, and household items.
- 10.2%: International distribution activities
M&S Bank was sold to HSBC Bank plc in Nov.2004, which uses the M&S brand under licence from Marks & Spencer. It became M&S Bank in 2012, opening stand-alone branches, and offering current accounts. Mortgages were introduced in 2018.
- 4.64% Schroder Investment Management Ltd
- 4.42% Ameriprise § Threadneedle Asset Management Ltd
- 4.35% Majedie Asset Management Ltd
- 3.66% Vanguard Group Inc
- 2.81% RWC Asset Management LLP
- 2.76% Norges Bank Investment Management
- 2.61% BlackRock Fund Advisors
- 2.51% Jupiter Asset Management Ltd
- 2.22% Capital Research & Management Company (World)
- 2.19% Legal & General Investment Management Ltd
- Jan.16.2019: M&S to start selling loose fruit and veg in shift away from plastic. Marks & Spencer is to start selling more than 90 lines of loose fruit and vegetables free of all plastic packaging, in a trial that will put the traditional greengrocer back on the shop floor and revive the use of paper bags. As part of the trial M&S has also removed best before date labels from fresh fruit and veg. Rebecca Smithers, The Guardian.
- Dec.15.2018: Waitrose to ban glitter from own-brand products by 2020. Waitrose says it will find other ways to make products sparkle in effort to stem plastic waste. Most glitter is made from etched aluminium bonded to polyethylene terephthalate – a form of microplastic that can find its way into the oceans. Meanwhile, Marks & Spencer is introducing a biodegradable alternative to glitter across its fresh flowers and plant range. It could be in use as early as January after a successful trial. Rebecca Smithers, The Guardian.
- Jan.14.2018: What are supermarkets doing to fight plastic? Plastic waste is "one of the great environmental scourges of our time". These are the words of Prime Minister Theresa May, who has pledged to ban all avoidable plastic waste in the UK by 2042. Despite extending the 5p charge on single-use plastic bags, major retailers in England still sold 2.1bn in the last financial year. But organisations like Greenpeace UK are sceptical about the plan, citing Mrs May's "vague aspirations". So what are Britain's 10 biggest supermarkets doing to combat the "scourge" of plastic? Marks & Spencer says that more than 90% of all its UK packaging is recyclable, and less than 1% (by weight) of all its packaging can be traced back to polystyrene. It has trialled new materials to replace its black CPET (a type of plastic) packaging, and the foils in packaging for biscuits and crisps. Between 2007-2012 it reduced its total packaging by 25%, and between 2012 and 2014, its food packaging usage per item decreased by 10%. It is also looking at using plastics made from plant-based oils. BBC News.
- Aug.2020: Jobs: plans to cut 7,000 jobs in shops and head offices were announced.
- Jan.2021: Marks and Spencer Group plc bought Jaeger out of administration, but purchased only Jaeger’s intellectual property, allowing it to sell Jaeger-branded goods on its website as a 3rd-party brand. The deal excluded the remaining 63 stores; questions about employees were ducked.
- Nov.2020: Jaeger fell into administration after Edinburgh Woollen Mill Group failed to find a buyer. A week later, 103 jobs were axed and 13 stores closed, leaving it with 63 shops and concessions, and 244 staff.In Jul.2020, Jaeger Holdings Ltd, established in Dec.1883, was dissolved.
- Apr.2017: Jaeger entered administration. A group of suppliers owed £millions tried to mount a rescue bid, but could not buy the business because the rights to use the name had already been sold. Administrators closed ~20 of its 46 stores, making 200+ staff redundant, and remained in charge of the core business and remaining staff. Industry sources believed that Philip Daywas waiting in the wings to acquire a restructured business, free of debt.
- Mar.2017: The Edinburgh Woollen Mill (Group) Ltd, owned by Dubai-based Philip Day, acquired the Jaeger brand and debt, but not the main company, leaving the future looking very bleak for Jaeger’s 700 employees and payments for suppliers.
- Apr.2012: Better Capital PCC Ltd, a Guernsey-based private equity firm controlled by Jon Moulton, bought Jaeger Group Ltd (90%) from Harold Tillman, who retained a 10% stake.
- Mar.2003: Harold Tillman, chairman of suit manufacturer BMB Clothing Ltd, bought Jaeger Holdings from Richard Thompson.
- Jan.2003: Coats plc sold Jaeger to Richard Thompson's SPV Riverhawk Investments Ltd for £1. The deal included 117 retail outlets, 230 concessions and 50 overseas franchised shops. Coats retained various Jaeger assets, including the long-term lease on its flagship Regent Street store with a view to selling it, and the brand’s USA business, looking to find a purchaser for the business as a going concern.
- ... ...
- 1930s: Jaeger changed its emphasis from life-enhancing underwear to fashion. A Regent street shop was opened in 1935, and Jaeger concessions were established within department stores such as Selfridges to sell Jaeger range of coordinates.
- 1914: Jaeger Co Ltd: At the start of WWI, the company changed its name from Dr Jaeger's Sanitary Woollen System Co Ltd.
- 1910: Jaeger was awarded a Royal Warrant to supply to King Edward VII stables.
- Feb.1884: Dr Jaeger’s Sanitary Woolen System Co. Ltd: Tomalin established the first Jaeger shop in Fore Street, Moorgate, London, with the London West End branch opening in 1885 at Princes Street, London W1.
- 1881: Lewis RS Tomalin, a Putney-dwelling grocer's accountant, published a translation of "Health Culture", a book by German zoologist Dr Gustav Jaeger, which detailed the benefits of clothing made from natural fibres including merino wool, alpaca, and cashmere. The book's reception was sometimes one of mockery.
- May.23.2018: Marks & Spencer reports sharp drop in annual profits. Clothing and food sales fall as closure plan incurs £321m bill. M&S to close 100-plus stores by 2022 in ‘radical’ plan. Zoe Wood, The Guardian.