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The company, which is based in Winston-Salem, N.C., added 21 new stores from Seattle to Toronto during the quarter and said sales growth continued at company-owned stores, franchised operations and mix-manufacturing plants.
The vast majority of the new stores will be franchised operations, where M&S sets out how the stores should look and sells its branded goods, but accepts no responsibility for the running of each store.
InterContinental, a British-based firm that is another big believer in being asset-light, owns only 15 hotels, manages 628 and has its brands woven into the towels of a further 3,800 franchised operations.One advantage of owning the bricks-and-mortar is that the company has absolute control over the hotel and its maintenance.
Locally franchised operations tend to be worse, but it's hard to know when booking.
NIIT, a computer-training company, has 40 wholly owned centres and more than 1,000 franchised operations, and is expanding to America and Britain.
2008 Rose takes control of M&S's franchised operations in eastern Europe and announces plans to open more stores in the Czech Republic, Slovakia, Latvia and Lithuania.
Similar(54)
The company operates through two business segments: Franchise Operations and Company-Operated Restaurants.
The company operates approximately 40 subsidiaries globally that oversee franchise operations, acquisitions and financial obligations such as pensions.
In 1992, I became executive vice president of franchise operations.
Last week it named Jim Hyatt to lead its franchise operations in the United States.
Restaurants, even franchise operations, take a while to find their sea legs.
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