Is the spark still in Marks?

The High Street chain is also considering selling goods under a different name as well as opening three discount stores.

But Oxford's Marks & Spencer devotees need not worry. Their Queen Street branch is still one of the company's success stories and a top sales achiever in the country.

Press officer Lisa Knott says business at the Oxford store is running smoothly because it is still attracting both ends of Marks & Spencer's core clientele.

She says: "Oxford has both a young and a mature established population and both sections are responding by buying our clothing stock."

As for any fears of the new Debenhams store in Magdalen Street hogging the limelight, Lisa says M&S sees the latest addition to the city centre in a "favourable light".

"Any store that helps attract more customers to Oxford has got to be positive," she adds.

She stresses that the company has made no final decisions about downgrading.

But, she says: "There will be no key changes at the Oxford store. We have 21 existing conceptual stores now and over the next 15 months, Oxford will be brought in line with this new look, but it certainly won't be downgraded."

She is also keen to impress on Marks & Spencer's customers that the company knows it has made mistakes in the past but is doing everything it can to address them. "We took our eye off the ball. But we admit that and you can see the changes happening as we speak to put things right."

This Christmas will be crucial for the future of the retail giant and M&S has made sure all its new strategies will be in place. Autograph, an upmarket clothing line, has been introduced. Stores have been revamped and top management appointments made.

Other future plans include selling M&S sandwiches in other retail outlets, including WH Smith, offering customers cut-price telephone calls and stocking newspapers and magazines.

Whether all this will be enough to reboot the struggling retailer remains to be seen.