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What is Marks and Spencer? Marks and Spencer is a major British multinational retail chain, with its headquarters located in Paddington, London. This department store chain specializes in clothing, food and beauty products. The company has been around for over 100 years and has over 3,000 stores worldwide. Their mission is to provide customers with a wide range of products at affordable prices. Marks and Spencer's business practices are rooted in the principles of equality and respect. They treat all employees with the utmost respect and encourage innovation in all areas of the company. They also emphasize transparency and openness. They are committed to ensuring the highest quality products and services. Marks and Spencer has a number of different policies to help them achieve these goals. The company's first move into the financial sector came in 1985 with the launch of the Marks and Spencer Charge card in the United Kingdom. This was followed by the introduction of personal loans, unit trusts, and personal equity plans - tax-sheltered vehicles for share purchases. These developments led to the formation of Marks and Spencer Financial Services. Marks and Spencer had suffered a dramatic decline in sales and profit in recent years. This situation led to bad press and calls for a boycott of the company. In June 2004, the Marks and Spencer board forced Holmes and Vandevelde out and replaced them with new chief executives. Stuart Rose, who had joined the company in 1972 and had previously been chief executive of Arcadia Group plc, was brought on board to run the company.
