The Business

How did M&S pull off one of the biggest turnarounds in British retail? Hannah Prevett speaks to operations director Sacha Berendji about the high street giant's transformation.

In this episode of The Business, we explore how M&S transformed its food, fashion, and shop location strategy to capture market share across British business. From store renewals and digital growth - to managing a cyber attack - we consider what its resurgence reveals about wider retail trends and consumer spending across the UK economy. M&S operations director Sacha Berendji joins Hannah Prevett, associate business editor at The Sunday Times, to discuss the corporate strategy behind the multi-billion-pound revival of M&S. He explains how leadership set the course to revamp its product lineup, handle the logistics of "fortress factories" and is now approaching shoplifting challenges. He also discusses the tax burden on high street retailers, along with what M&S wants from government fiscal policy to address rising costs and the youth unemployment crisis.

He breaks down the company's decision to close a number of high street shops across the country:

“We're very well aware of the role that we play on a high street and within a local community, so we never take these decisions [to close a location] lightly - but when you look at the economics at play, not just for us, but for all retailers, and, really importantly, where customers are shopping, it has become more and more difficult to justify being in locations where there isn't customer foot fall,” he says on the show. “It's not an anti-high street agenda … If the high street is the right place, then we'll be on the high street.”

Guest:
Sacha Berendji, operations director at M&S

Presenter:
Hannah Prevett, associate business editor at The Sunday Times

Producer: Hope Federico
Executive Producer: Miriam Hall and Emily Leahy
Get in touch: thebusiness@thetimes.com
Picture: Getty
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This series is sponsored by PwC.

Could we see the first female Formula 1® driver in 50 years racing in a Grand Prix?

In the second episode of a special series, host Andy Jaye speaks to 19 year old F1 ACADEMY driver Rachel Robertson, who’s chasing that dream and breaking down barriers in motorsport. Joined by PwC’s chief people officer Phillippa O’Connor they discuss Rachel’s inspirational story from a karting to the F1 ACADEMY, and how talent investment and more inclusive workplace cultures can open up new career pathways.

Together they explore how nurturing talent is vital for Formula 1® and how industry leaders can attract more diverse talent to drive high performance and long term economic growth.

You can also watch this episode on Times Business channel on YouTube.

Presenter:
Andy Jaye, Broadcaster

Guests:
Rachel Robertson, F1 ACADEMY driver
Phillippa O’Connor, PwC Chief People Officer

Producer: Harry Bligh and Shabnam Grewal
Executive Producer: Emily Leahy
Video Producer: Super Llama

Get in touch: thebusiness@thetimes.com

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

Are wealth creators fleeing Britain, and what does a super-rich exodus mean for Treasury tax revenues and the wider UK economy?

In this episode of The Business, Hannah Prevett investigates why high earners are leaving the country and whether changes to non-dom status are accelerating the trend. She is joined by Dan Neidle, tax lawyer and founder of Tax Policy Associates, and Robert Watts, Times contributor and compiler of the Sunday Times Rich List.

Together, they explore high-profile departures, including hedge fund founder Chris Rokos, who paid £330m in UK tax in a single year. They examine how abolishing non-dom rules, rising inheritance tax, and proposed exit taxes impact capital investment across British business. And as ministers prepare their upcoming budget, Hannah asks how government fiscal policy can retain top talent in the country, protect tax receipts, and drive long-term economic growth.

Presenter:
Hannah Prevett, associate business editor at The Sunday Times

Guests:
Dan Neidle, founder of Tax Policy Associates
Robert Watts, Times contributor

Producer: Hope Federico
Executive Producer: Emily Leahy and Miriam Hall
Video Producer: Bronwen Latham
Image: Getty
Hosted on Acast. See acast.com/privacy for more information.

This series is sponsored by PwC.

What does it take to broadcast the excitement and drama of Formula 1® to millions of fans across the world, with high pressure stakes and no room for error?

In the first episode of a special series, host Andy Jaye speaks to Dean Locke, Formula 1®’s Executive Director of broadcast, Media and Race Operations and PwC’s UK Consulting Chief Markets Officer David Allen. Together they examine how innovation, AI and tech have transformed Formula 1®’s high-stakes broadcasting operation to deliver greater efficiency, sustainability and quality, and what industry leaders can learn about corporate strategy and harnessing tech.

You can also watch this episode on Times Business channel on YouTube.

Presenter:
Andy Jaye, Broadcaster

Guests:
Dean Locke, Formula 1® Executive Director of broadcast, Media and Race Operations
David Allen, PwC UK Consulting Chief Markets Officer

Producers: Harry Bligh and Shabnam Grewal
Executive Producer: Emily Leahy
Video Producer: Super Llama

Get in touch: thebusiness@thetimes.com

Hosted on Acast. See acast.com/privacy for more information.
Hosted on Acast. See acast.com/privacy for more information.

Coming soon…The Business of Formula 1®

A series sponsored by PwC.

Listen on The Business wherever you get your podcasts, or watch on Times Business channel on YouTube.
Hosted on Acast. See acast.com/privacy for more information.