Next Phase of Marks & Spencer Non-Food Proposition ‘About to Begin’ – Shore Capital

Marks & Spencer (LON: MKS) is entering the next stage of its non-food transformation with a significant leadership reshuffle in its Clothing, Home & Beauty division, according to Shore Capital. 

The transition, announced last week, is expected to be fully operational by spring 2025, bringing in new Managing Director John Lyttle and several senior appointments.

Lyttle, who joins M&S in March, was formerly CEO of Boohoo Group and spent nearly a decade at Primark as COO. 

He will succeed Richard Price, who leaves in April after overseeing a turnaround in M&S’s clothing business since 2020. 

In its note reacting to the management changes, Shore Capital gave Price “considerable credit” for revitalising the brand’s apparel segment, driving improvements in quality, style perceptions, and market share.

Marks & Spencer, which is a “House Stock” at Shore Capital, added that supporting Lyttle, Maddy Evans will expand her role to Director of M&S Woman, incorporating Lingerie, with Charlotte Davies continuing as Head of Lingerie. Additionally, David Brittain joins as Head of Home & Beauty from Amazon, where he was Business Development Director for European Fashion.

Shore Capital views the leadership overhaul as a positive step, with highlighting Lyttle’s “down-to-earth leadership style” as a strong cultural fit. The firm sees the changes as key to scaling M&S’s omnichannel strategy and driving further growth.

With fresh leadership and continued momentum, Shore Capital believes M&S’s non-food business is well-positioned for long-term success.

“All in, we see notable new human capital here that provides perspectives and energy to build upon Mr Price's firmer nonfood foundations of the firm,” concluded the firm.