Norman allegedly told news publication The Times that Marks & Spencer (M&S) needs to evolve into a global entity and envisions a trajectory that spans the next century.
This strategic move is expected to follow the ongoing turnaround phase that M&S has undertaken, which has shown promising results.
M&S did not respond directly to Just Style’s request for comment on the remarks Norman made to The Times at the time of going to press, however in its half-year 2023 results, the department store chain reported a noteworthy pre-tax profit surge that reached £360.2m ($454.8m).
The positive momentum extended to the company's clothing and home sales, which saw a 5.7% increase with M&S upgrading its stores, clothing lines, and digital offerings as part of its major turnaround plan.
Its third quarter performance in early January last year (2023) showed a 12.5% increase in total international sales with strong retail sales growth in key franchise markets in the Middle East and owned markets including India.
The buoyant outlook contrasts with Marks & Spencer's earlier setbacks in international ventures. In 2008, the company made the strategic decision to close three stores in Taiwan due to lacklustre performance.
In October of last year (2023), M&S added German sportswear brand Adidas and UK athleisure brand Sweaty Betty to its online sportswear platform to broaden its brand offering and grow in the sportswear market.
The move was said to align with its ongoing commitment to enhance its sportswear category as part of its ‘Brands at M&S’ strategy.
The retailer explained brand partners benefit from access to its extensive customer base, substantial customer data, engagement opportunities, and omnichannel purchase and return options.
