Marks & Spencer’s (LSE: MKS)
Christmas trading performance has confirmed that the company is back in business. Investors with a long memory, however, are going to take more convincing. M&S has been in turnaround mode since 2005, and along the way it has suffered several false starts.
Investors who have stuck with the business have been sorely disappointed, seeing a total return of just 4.4% per annum over the past 15 years, roughly half the FTSE All-Share’s total yearly return of 8%. Furthermore, over the past five and ten years the shares’
