How Stuart Machin turned around Marks & Spencer (part one)
Stuart Machin's focus on the in-store experience, products and culture of the business have proved key to boosting the retailer's fortunes
Marks & Spencer is probably the best-known business in Britain. But when Stuart Machin joined in 2018 it had been struggling for years. Since then he has led an extraordinary turnaround of the high street retailer. This is the story of how he did it, in his own words.
Stuart Machin, the chief executive of M&S, talks to the Business Leader Podcast about how M&S is changing its shops, products, and, crucially, the culture within the business. One thing stands out – how much he obsesses over the details (no one buys more men's clothes from M&S than him). That is not easy given M&S has more than 60,000 employees, nearly 1,500 shops, annual revenues of £13bn and pre-tax profits of £673m in its last financial year.
In part one of this two-part special, Stuart Machin discusses his strategy and approach for M&S. In part two, we will look at his career in retail, why he has such passion for the sector and what he thinks are the challenges ahead...
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