Marks & Spencer shares look cheap – should you buy in?

Marks & Spencer shares have been a disappointment for investors for two decades. But with the company now on something of a comeback, Rupert Hargreaves asks if it is worth buying in.

Man at M&S
Marks & Spencer is on something of a comeback – but will it last?
(Image credit: © Mike Kemp/In Pictures via Getty Images)

The Marks and Spencer (LSE: MKS) share price has been a perennial disappointment for investors over the past 20 years.

Since May 2002, the share price has lost 63%. On a total return basis (ie including dividends) the picture is a bit better, but investors have still lost money.

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Rupert Hargreaves
Contributor and former deputy digital editor of MoneyWeek

Rupert is the former deputy digital editor of MoneyWeek. He's an active investor and has always been fascinated by the world of business and investing. His style has been heavily influenced by US investors Warren Buffett and Philip Carret. He is always looking for high-quality growth opportunities trading at a reasonable price, preferring cash generative businesses with strong balance sheets over blue-sky growth stocks.

Rupert has written for many UK and international publications including the Motley Fool, Gurufocus and ValueWalk, aimed at a range of readers; from the first timers to experienced high-net-worth individuals. Rupert has also founded and managed several businesses, including the New York-based hedge fund newsletter, Hidden Value Stocks. He has written over 20 ebooks and appeared as an expert commentator on the BBC World Service.