Marks And Spencer: The Destroyer Of Shareholder Value

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About: Marks and Spencer Group plc (MAKSF), MAKSY
by: John Kingham
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John Kingham
Dividend investing, value, large-cap, newsletter provider
Summary

Over the last 20 years M&S has retained about £2.5 billion of shareholders’ earnings to invest in the existing business, to make acquisitions, to buy back shares and so on.

And yet, after all that hard work and investment of cold hard (shareholders’) cash, the company’s share price is lower today than it was 20 years ago.

So in my latest article for Master Investor magazine I wanted to outline two red flags which, for many years, have suggested M&S was a no-go zone for long-term investors.

I like Marks and Spencer (OTCQX:MAKSF) (OTCQX:MAKSY). No really, I do.

I used to buy most of my clothes from M&S back in the late 1980s and early 1990s, when I