Marks & Spencer news and archive

M&S expects modest revenue growth in FY24

Marks and Spencer plc reported sales of 11,988 million pounds, an increase of 9.9 percent versus 2021/22, driven by clothing & home sales up 11.5 percent, food sales up 8.7 percent and international sales up 12.6 percent. Statutory revenue in the period was 11,931.3 million pounds, an increase of 9.6 percent. In FY24, the company expects modest...

Business

Marks & Spencer introduces paid neonatal leave

Marks & Spencer has expanded its maternity offering with the introduction of neonatal leave for families of premature babies or babies that need additional care when born. For the employees it applies to, extra paid leave of up to 12 weeks will be granted coming into effect immediately, making Marks & Spencer one of the first retailers to...

Retail

Seasalt Cornwall launches in M&S stores in Ireland

UK-based fashion and lifestyle brand Seasalt Cornwall is launching in three Marks & Spencer stores in Ireland at Mary Street and Liffey Valley in Dublin and St. Patrick’s Street in Cork this month. The move comes as part of Seasalt’s ongoing partnership with the retailer’s ‘Brands at M&S’ platform and follows the success of Seasalt’s two...

Business

Marks & Spencer injects fresh funding into Nobody’s Child

Marks & Spencer has announced that it has injected further funding into Nobody’s Child as it looks to continue supporting the eco-brand’s growth plans. The department store retailer first acquired a 27 percent stake in Nobody’s Child in 2021 as part of its third-party brands strategy, which is centred around partners that would complement and...

Business

Marks & Spencer responds to 'inaccurate' reports of job cuts at head office

Marks & Spencer has responded to what it describes as “inaccurate” media reports that the high street retailer is considering cutting hundreds of jobs at its London head office in a cost-cutting drive. At the weekend, The Times reported that Marks & Spencer is “embarking on a fresh round of job cuts in its head office”, with teams being reduced...

Business

Marks & Spencer launches campaign calling for updates in company law

Marks & Spencer has teamed up with the Quoted Companies Alliance (QCA), the UK Shareholders Association (UKSA) and the UK Individual Shareholders Society (ShareSoc) to call on the business secretary to amend the “outdated” Companies Act in order to strengthen the rights of shareholders. The “Share Your Voice” campaign has seen the four companies...

BusinessFeatured

Marks & Spencer plans to grow high street brand offer to compete with rivals

Marks & Spencer is reportedly looking into expanding its ‘Brands at M&S’ e-commerce concept as it looks to take on its department store rivals Next and John Lewis. According to The Telegraph, the retail chain is planning to sell more high street brands alongside its own clothes, with the media outlet reporting that it could be increasing the...

Retail

Marks & Spencer to add seasonal Nobody’s Child pop-ups to 30 stores

Marks & Spencer is set to bring Nobody’s Child to 30 stores throughout the UK in a series of seasonal pop-ups running from March to August. Housed in the 400 foot spaces will be a 30-piece capsule collection of the brand’s signature midi and mini dresses, as well as a range of skirts, tops and jumpsuits. Its launch comes on the back of a Nobody’...

Business

Marks & Spencer CEO calls on government to take more decisive action in Spring Budget

In an open letter, CEO of Marks & Spencer, Stuart Machin, has called on the government to make more “decisive, practical action” in a bid to support the growth of the economy. His words come ahead of the chancellor Jeremy Hunt’s Spring Budget, which is set to be unveiled Wednesday. Machin has requested that three key areas – skills, net-zero and...

Retail

M&S invests 57 million pounds to increase pay for retail store staff

Marks and Spencer is investing 57 million pounds in its front-line retail staff, marking the retailer’s biggest-ever investment in its shop workers. In a statement, M&S said that from April 1, more than 40,000 store workers will see their hourly rate increase to 10.90 pounds, up by 70 pence. Employees in London stores will see their hourly wages...

Report

Marks & Spencer appoints new non-exec director

British department store retailer Marks & Spencer has announced that Cheryl Potter will be joining the group’s board as a non-executive director, effective March 1. Potter is the former head of the global consumer team at private equity firm Permira, where she was credited with building a successful track record as an investor and steward of...

Retail

Marks & Spencer adds breast cancer guidance to fitting rooms

Department store chain Marks & Spencer has said it will be rolling out signage to fitting rooms across the country offering guidance on the symptoms of breast cancer. The signs will be introduced to over 1,500 fitting rooms, the retailer said in a release, in every cubicle of both the women’s and lingerie departments across 110 UK stores. They...