Marks & Spencer (UK retailer)

I was interested to see that M&S has delivered a 25.6pc increase in pre-tax profits and a 10.1% rise in sales. This seems to be a direct result of Stuart Rose's leadership and strategic course. M&S seems to have clarified their strategy as a quality retailer. All their publicity is providing the right consistent messages, whether for food or fashion. The previous team, led by Luc Vandevelde, tried to 'save' the company with aggressive cost cutting and downsizing. Porter would say that this is not a strategy but a series of operational objectives. Now that the company is pursuing a strategy again everything is falling into place. So the lesson is to make a profit, first decide which market(s) you want to be in and then position yourself in a unique space.