One of the mysteries of the English language finally explained.
(A familiar name for) the merchandising company of Marks and Spencer plc; any of the stores owned by this firm.
1960s; earliest use found in The Sunday Times. From Marks and Spencer (from the names of Michael Marks, Polish-born English retailer and Thomas Spencer, English retailer, who formed a business partnership in 1894), with alteration of the final element to rhyme with the first, after the plural of spark.
Marks and Sparks/ˈmɑːks ən(d) ˈspɑːks/
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