Marks & Spencer takes centre stage this week when it unveils interim results on Wednesday.

Ahead of the update, some familiar questions were being asked once again.

Should M&S be trimming its store estate more aggressively? Is it too focused on older shoppers? Are its prices too high?

Finding the right answers to such questions, and more like them, is essential if M&S chief executive Steve Rowe is to succeed in his efforts to restore the retailer’s fortunes.

Let’s start with customers. In important ways, Marks & Spencer is lucky to have older shoppers.

While the finances of many young people are squeezed, the over-50s are a much more affluent bunch.

They have been responsible for nearly three-quarters of spending growth over a five-year period and accounted for a greater share of spend in categories that are key to M&S, such as clothing.

But although people are living longer, any successful retailer must constantly replenish its customer base.

“M&S is hardly a no-go area for younger consumers; 22% of its customers are aged under 35”

As Amazon founder Jeff Bezos memorably put it: “If your customer base ages with you, you’re Woolworths”.

In fact, M&S is hardly a no-go area for younger consumers; 22% of its customers are aged under 35, although its strength in food skews the number.

Nevertheless, how can M&S recruit more younger shoppers – not necessarily the teenagers more commonly found in Topshop, but a couple of decades younger than the over-55s for whom some believe the retailer’s fashion offer is weighted too much towards?

The answer to that question, as well as the obvious one of sufficient product that appeals to younger customers, is connected to the other two.

Price, stores and online

Greater price competitiveness in clothing is key. The rise of Primark and other lower-price retailers over several years means consumers are conditioned to expect extremely keen value, just as has been the case in food as exemplified by Aldi and Lidl’s rise.

It’s unlikely they will suddenly lose that mindset, so M&S has to move.

It has already begun to do so under chief executive Steve Rowe’s tenure. At the time of its full-year results in May, M&S said it had cut the prices of 2,400 lines.

The sharpest possible entry points should build M&S’ price authority, drawing the footfall that enables it to show off the entirety of its range and the opportunity to sell more expensive lines – assuming, of course, that product hits the fashion spot.

On store numbers, range and location, the retailer should take its lead from how consumers behave.

Stores will always have an important part to play. However, the growth of ecommerce – and wider changes wrought by the rise of new technology – means the M&S customers of tomorrow already behave in very different ways today.

“Some of the property changes made so far are understood to have delivered better than expected results, so it makes sense to exploit the lessons learned and make further adjustments to its estate”

So the store network of the future store needs to reflect shifts likely to become everyday over the next several years.

That almost certainly means further changes to M&S’ space of the sort already begun – M&S said last year that it would shut about 30 full-line stores and convert more to food-only.

Some of the property changes made so far are understood to have delivered better than expected results, so it makes sense to exploit the lessons learned and make further adjustments to its estate.

This week’s financials follow hot on the heels of the arrival of Archie Norman as chairman.

The Asda saviour is known for his attention to detail and speed of action.

And it is understood that he would not have taken the role were he not confident that Rowe was someone he could work with.

That shared energy and sense of common purpose gives ground for hope that the retailer can rediscover its retail prowess and act decisively to hone a business model and structure that future-proofs it as much as possible.