Swot Analysis of Marks and Spencer

Marks & Spencer clothing, he continues, is "not very price competitive" and as a result customers are being lured by cheaper, snazzier and more aggressive rivals.

Management attempts to make the stores more shopper friendly have only confused matters, he adds.

But, Mr Holmes counters, the company is "taking action on a number of fronts to accelerate the transformation of the business and deliver improved performance".

Further cost cutting, he says, will help the company hit profit targets of about £775m.

Can Lifestores revive M&S?

Marks & Spencer has announced plans to fire as many as 1,000 employees and said it is looking at ways to buy products more cheaply.

It also is taking steps to spruce up its image and has earmarked £400m to spend during the next 12 months.

On top of that, the company recently launched a Lifestores furnishing shop, operates Simply Food stores and sells clothes under the Per Una label.

The message from Marks & Spencer is simple. It may take time, they say, but we will get it right and when we do, sales and market share are set to increase.

Third way

Some analysts, however,