A man cleans the window of a shop advertising a "closing down sale" in central London. Conditions on the High Street are "very difficult" as consumers cut spending to cope with inflation and retailers engage in discounting battle to win the pounds that are being spent. Supermarkets are the only bright spot. A sustained slump for retail could have a serious knock-on effect on economic growth.
There are no known arrangements under which financial rights are held by a person other than the holder of the shares. Details of the significant agreements of this kind are as follows: The Company engages in share buy backs to create value for the shareholders, when cash flow permits and there is not an immediate alternative investment use for the funds.
An up-to-date summary of all transactions is available on our website. This standard authority is renewable annually and approval will be sought from shareholders at the AGM to renew for another year. Martha Lane Fox was appointed to the Board as a non-executive director on 1 June Jack Keenan retired from the Board on 10 July On 10 March the Company announced Marks and spencer report number of Board and senior management changes.
Lord Burns will retire as Chairman with effect from 1 June Details of these changes are set out in the Corporate governance statement and are incorporated into this report by reference. The Company has also granted indemnities to each of its directors and the secretary to the extent permitted by law.
Qualifying third party indemnity provisions as defined by section of the Companies Act were in force during the year ended 29 March and remain in force, in relation to certain losses and liabilities which the directors or secretary may incur to third parties in the course of acting as directors or secretary or employees of the Company or of any associated company.
Further information regarding employee share schemes is given in note 12 to the financial statements. The financial statements, of which the form and content is prescribed by the Companies Act and applicable accounting standards, must give a true and fair view of the state of affairs of the Company and the Group at the end of the financial year, and of the profit for that period.
The directors are also responsible for the adoption of suitable accounting policies and their consistent use in the financial statements, supported where necessary by reasonable and prudent judgements.
The directors confirm that the above requirements have been complied with in the financial statements. In addition, the directors are responsible for maintaining adequate accounting records and sufficient internal controls to safeguard the assets of the Group and to prevent and detect fraud or any other irregularities, as described more fully in the Corporate governance statement.
Employee involvement We have maintained our commitment to employee involvement throughout the business.
Employees are kept well informed of the performance and objectives of the Group through personal briefings, regular meetings, email and Chief Executive broadcasts at key points in the year to all head office employees and store management.
More than 3, employees elected onto Business Involvement Groups across every store and head office location represent their colleagues in two-way communication and consultation with the Company. They have continued to play a key role in a wide variety of business changes.
The thirteenth meeting of the European Council took place last July. This Council provides an additional forum for informing, consulting and involving employee representatives from the countries in the European Community. Directors and senior management regularly visit stores and discuss with employees matters of current interest and concern to the business.
Share schemes are a long-established part of our total reward package, encouraging and supporting employee share ownership. Full details of all schemes are given in the Remuneration report.
We maintain contact with retired staff through communications from the Company and the Pension Trust. Member-nominated trustees have been elected to the Pension Trust Board, including employees and pensioners.
It is our policy to promote an environment free from discrimination, harassment and victimisation, where everyone will receive equal treatment regardless of gender, colour, ethnic or national origin, disability, age, marital status, sexual orientation or religion.
All decisions relating to employment practices will be objective, free from bias and based solely upon work criteria and individual merit. During the year, we continued to demonstrate our commitment to interviewing those people with disabilities who fulfil the minimum criteria, and endeavouring to retain employees in the workforce if they become disabled during employment.
We will actively retrain and adjust their environment where possible to allow them to maximise their potential.Introduction Marks & Spencer is a British retailer with over stores in more than 30 countries around the world.
It is the largest clothing retailer in the UK, aswell as being a food retailer. Most of it’s domestic stores sell both clothing & food, and since the year Marks & Spencer have. Marks and Spencer Group plc (M&S) is a retailer in the United Kingdom, with over 1, stores around the world.
The Company is the holding company of the Marks & Spencer Group of companies. The Company operates through two se gments: UK and International. Marks and Spencer has also prepared a separate report called “The key lessons from the Plan A business case.” [PDF] Of its goals, the company has achieved of its commitments, with 30 ‘on plan’, 6 ‘behind plan’ and 6 ‘not achieved,’ according to the report.
Marks & Spencer Group plc (also known as M&S and MS) is a major British multinational retailer headquartered in the City of Westminster, London. It is listed on the London Stock Exchange and is a constituent of the FTSE Index. It specialises in the selling of .
This report presents a critical analysis of Marks and Spencer (M&S) strategic development history from the s to The external and internal influences on the company’s past, present and future strategies were analysed using various.
Marks & Spencer has reported a per cent fall in profit for the six months to the end of September, and has said that its chief financial officer is stepping down.