- M&S offers its own label businesses, including Food, Clothing & Home, in the United Kingdom and overseas.
- Even after taking into account the EU border costs and the lockdown and restrictions in India, M&S stores and marketplaces reported revenue growth.
- I expect that the Clothing & Home business will continue to surprise investors in the following five years thanks to an increase in the number of online customers.
- The company’s Vangarde store process is close to being implemented across 75% of the estate. If the company continues to improve its operations, FCF growth would increase significantly.
- I included an inventories/sales ratio of 6%-7%, accounts/payables of 10%-11%, and capital expenditures/sales of 3%. I am not using extraordinary assumptions.
For further details see:
Under New Transformations, Marks & Spencer Will Most Likely Recover