The competitive retail industry landscape has provided the company with the expertise to devise managerial strategies that help in retaining a healthy market share and ensure the return of customers to their stores. The company has improvised its strategies in tune with changing times and introduced new brands and divisions in the retail market segment. The food division is one of the launches that have earned the company a good deal of revenue over the years.
The organization started its food division in the year 1931 when they introduced a food department to sell produced and canned food. This was followed by the introduction of café bars providing cheap and hygienic food to the people shopping at their complex. The food division slowly expanded to include various cuisines catering to global tastes and changing habits. The food division of M&S has become a vital part of the retail store business contributing to nearly 51 percent of the total sales and revenues (M&S, 2009).
Marks and Spencer was founded by Michael Marks and Tom Spencer in the 1880s as a partnership venture. The partnership was formed in the year 1894 and opened penny price stalls at various locations to attract customers by offering them goods at low price. Sir Stuart Rose is the present Chairman of the M&S group while the food division is headed by John Dixon. The company is currently a shareholding establishment
The Marks and Spencer group is primarily involved in the retailing of clothes, food and home products. Clothing products include women’s wear, men’s wear, kids clothing and lingerie. Besides clothing the group also retails cosmetic products, household products, and host of other daily needs consumer goods. The clothing and household articles account for nearly 49 percent of the total revenues. The remaining 51 percent of the revenues come from the food division (M&S,