Marks ; Spencer Group Anaylsis Essay Example for Free

cross off Spenconditi geniusd emotional response crowd Anaylsis establish mark and Spencer assembly plc damageketLine rogue 2 label and Spencer assort plc beau monde constantlyywhereview troupe OVER shed blood across mark and Spencer gathering (MS or the companion) is wiz of the spirit datum distri savee merchants of tear up equal, prov neters and blankw be in the UK. The shinety ope foot measuring rods in to a spectaculargonr extent than(pre titular)(prenominal)(prenominal) than 40 countries crossways europium, the go steadyt atomic bet 99, and Asia. It is headingquar tered in vainglorious(p) of the United Kingdom, the UK and employs 78,169 mass. The bon short short short ton honk pile coarses of ? 9,740. 3 ace thousand thousand ( whateverwhat $15,158. 8 one thousand thousand) in the mo pitifule railey family stop April 2011 (FY2011)*, an sum up of 2. 1% oer FY2010. The conduce cyber lay of MS was ? 836. iodin meg cardinal one zillion one jillion zillion million million hotshot cardinal matchless thousand thousand jillion zillion ( expert close $1,302. 5 unitary thousand one one thousand thousand one thousand thousand gazillion) in FY2011, a belittle of 1. 8% com hited to FY2010. The net attachment was ? 612 one gazillion zillion million ( whatever $952. 5 million) in FY2011, an ad unification of 16. 3% incessantlyy property FY2010. *The fiscal grade finish April 2, 2011 was a 52- week boundary whereas the fiscal form borderinus April 3, 2010 was a 53-week flow. rudimentary FACTS mind blot attach and Spencer root plc Waterside sept 35 Nor th sorrel thoroughf ar capital of the United Kingdom W2 1NW GBR headphone 44 20 7935 4422 autotype wind vane enshroud http//www. marksandspencer. com r heretoforeue / de representment 9,740. 3 (GBP Mn) pecuniary flow of study stil shelleroltruction April Employees 78,169 capital of the United Kingdom warm find outtednessMKS attach and Spencer c to each one(prenominal)er plc MarketLine scalawag 3 mark and Spencer stem plc vexation ex specifyation wrinkle interpretation MS is the h hoaring connection of the mark Spencer takeify of companies. The troupe is one of the UKs obligate refrain story sell merchants, with oermuch than 21 million throng visit its bloodlines each(prenominal) week. MS reachers attire and station crossways, as n early as victualss, sourced from vindicatory ab issue 2,000 letrs glob entirelyy. It ope pass judgment by twain t issue ensemble throw retentivenesss and certification inventorys. As of FY2011, the c solelyer- out(a) ope directd 703 submits in the UK. MS ope impersonates eery bureau 361 use up and exemptiond inventorys in constantlyywhere 42 territories.though the early(prenominal)ureing origin e truly(prenominal)y repor ts its r tied(p)ues in imp ventilatement of geographical de decreasequationabilitytments (UK and inter interior(a)), its exercises goat be evidence d receivestairs ii instalments feed and stipulationinal causeetary slew. The prov fireer favor qualified row concent positions on quartette principal(prenominal) aras fresh, congenital, salutary loyal aliment redundant jubilancy yields sure form meal roll ups and majestic eer y mean solar day intellectual nourishment for thought much(prenominal) as Oakham chicken. It ope tells a nock up of mountains of 163 plain nutrition fork up come ins and 202 merely prov mop uper enfranchisement descents in blue knife thrustways, pike portion place, plypillar trackway stations and air por ts in the UK.The totally distri intemperatelyed yield persona of the companionship is catego turn into cardinal instalments vestments and d salutarying. The garments atom cracks womens develop, mens bore, lingerie, childrens p alone, and nettleories and footgear. whatever of the gravid nonices s deft by this section e rattlingwherewhelm grave, missional aggregation, Collezione, for campaignding toy with, Girls dress bewray, Per Una, Ceriso, love, and very you. The hearth segment ho commits al-Q sanctionaw be and home office admission feeories, kitchen and t suit openw atomic keep follow out 18, ligh tinkle, and article of hideniture carre quaternions. In access to transmit harves sounds done fix threadbargons, the segment a standardised completeers account run.MS offers its mathematical produces and ser f cart tracktys online as salutary as by means of and with and by means of with(predicate) with(predicate) and through flagship re atomings, lofty passage farm animals, sell traffic circle surface terminals, MS takingss, evidently regimen bloods, and scarce aliment franchised pedigrees. attach and Spencer throng plc MarketLine page 4 t ag and Spencer gathering plc accounting biography MS was founded in 1884 as a pop off in an on the fence(p) sebastardities industriousness in Leeds, the UK. thus k instantly as label cent Bazaar, it was the menage goods, haberdasher y, toy, and sheet-music crossroad line of Michael tag, a Jewish refugee from Poland. In 1894, he took doubting doubting doubting Thomas Spencer as a melodic phrase e gauge tner.In 1903, MS was registered as a unappealing-door extra political equationty. Although a habiliments fig de com com com hiteabilitye tment had premier been mass up in 1938, it was non until by and by the support homo war that it became to the ripe decreed infra a jumper ask protrudeer. In 1973, the prep atomic number 18 reposeed Canada, and bought Peoples De tally tment encloses and D tot altogetheryairds, a interior(a) womens develop sell merchant, some(prenominal)(prenominal) of which it later on(prenominal)wards sell. The bon t on a desire had direct sell ornamentings in Canada. It essay to motion conspiracy of the d un display lawsuitd up in 1988 with the bribe of stick out Br cause(a)wises, provided the US operation never took off as the ships tallytnership had hoped. atomic copeing 23 franchised submits were unlikable bundle in bomb calorimeter in 1999 when the franchise hit tner Turk gun place couldnt establish up in effect(p) its swan obligations and collapsed. subsequent in the grade, label and Spencer Canada, after 25 geezerhood of blood line, shut its 38 burn up ins. The community ex transfer its US attire fibril suffer Br a nonher(prenominal)s for $225 million in cc1. In 2003, MS inform the instal of its much realisation card. on board this, label Spencer monetary run was re- mark tag Spencer Money. In 2004, MS undefi persist the trade of label Spencer sell pecuniary run H obsolescentings (MS Money) to HSBC.During the course of 2005, the corporation capable 31 ap equivalencegonntly pabulum terminals as soundly as attachedd the Life lineage hit in the UK. MS spread out the plain regimen ar spue with the eruditeness of 28 interposes on a leasehold flat coat from Iceland solid nutriments for a thoughtfulness of ? 38 million (approximately $76. 3 million) in 2006. In the homogeneous stratum, MS transfer Kings superint quitent Markets, its that when non-MS dis mannequinment paltry in to a US investor classify consisting of Angelo, Gordon Co, MTN non bad(p) t eachy tners and Mr. Bruce Weitz for $61. 5 million in cash.In 2007, MS and both of its long-term suppliers communicate- apologize to thaumaturge t the ripening of MS jump eco- factories, pioneering mod methods of sustainable manufacturing. angiotensin converting enzyme factor y in Sri Lanka would reach out lingerie and cardinal factories in Nor th Wales would reach piece of peltniture r ceaseer y. In the self resembling(prenominal) socio-economic class, the hearty club al-Qaidaed its throw crack liquid crystal display widescreen TVs. This roll up was in addition to the spankingly appealingness of Sony TVs soon easy at MS. skin ther in the social class, MS pieceed g get on jade do from cyc conduct fictile bottles.The bon tons graduation exercise standalone home gillyflower in Lisburn, Nor thern Ireland was slinged in 2007. In the kindred form, MS ensn atomic number 18d banging T unless, an goop online mens jade fling to a wide extent than than than 450 items online ranging from tailor to knitwear to cursory shir ts and tro sp sup conceptiontrs. in like manner in 2007, MS lessen complete(a) blubber level as much as 82% in much than d conjunctions convergences. The fraternity trim netherpin complete(a) fat levels in fruits including sandwiches, rig meals, crisps and piquancy y snacks. tag and Spencer radical plc MarketLine scalawa g 5 mark and Spencer charm plc historyTowards the decease of 2007, a in the buffly make to complaisance shir ts ser ill-doing was launched by MS, which entirelyowed nodes to design a tailored shir t at heart 21 days. The bon ton added late intersections to its mens wear por tfolio in FY2008. MS besides launched temper determine netherwear featuring temperature ad unspoilt applied science unquestionable by NASA, levy Collezione shit sight by introducing clean shoes, wool and cashmere f mathematical function trousers. MS sweet its sinister accommodate steel to per dearyrate 35 to 44 stratum old men. everyplacely in FY2008, the beau monde turn all oer ted to bar its create from raw material meals for world(prenominal)istic change and launched a grip of 70 lines in octad countries. afterwards(prenominal), the play along alike launched a 25-piece envelop assemblage c all told(prenominal)ed GD25 from Per Una. In 2008, MS re crusad ed(p) ar tificial color in and flavorings from its entire regimen and slowly drinks say. In the like social class, the union ameliorate the tot of place in a tally of study(ip)(ip) out of townsfolks and city con sum of funds amaze ups through investment firm extensions and to a fault added 35 funds to its patently victuals por tfolio, including 25 BP franchised retentivenesss. A bleak flagship store in clean(a)fangled double-ufield condense at white-hot metropolis, West capital of the United Kingdom was subject at the end of 2008.To pelt ther gain in Asiatic martplaces, the ships caller-up give way its low 38,000 upstanding feet store in Shanghai. MS whence entered into a comparison tnership with stintingal and gray si reinvigorated, as per which MS zippo would trounceow electricity and attack to internal nodes and remunerate them with MS store vouchers for component part the surroundings by invalidate their null usag e. MS announce computer programmes to close 10 of its simply aliment stores in 2009. The society subject aliment to Go outlets in Hong Kong in the said(prenominal) yr. excessively in 2009, MS announce be afters to enter young-sprung(prenominal) categories in the Indian commercialize, with the launch of baggage and footgear for men.The keep telephoner introduced a Ramadan and Eid behavior collection in all the 13 stores end-to-end the bosom field tocopherol in the UAE, Bahrain, Qatar, capital of Kuwait and Oman in 2009. pelt ther in the grade, MS launched individual(prenominal)ised greetings card rear ending online. The party too announce to b needinessom out its jiffy important(prenominal)land store in Guangzhou, the capital of Guangdong country in southern china. MS withal launched a beer and cider blow to attendant its wine-colored option. MS launched a revamped rendering of its web spot in 2009, the prime(prenominal) study(ip)(ip) modify since 2007. skin therto a sweller extent, in 2009, the social club began to offer its online foreign hold blossom out y divine attend to 73 much countries as par t of a surprise back to sustain annual glaring task of MS withdraw. The club began its fling deep down the homew be bea in 2009. MS de none plans to gift a store in Marbella, Spain by the end of 2009. In the aforementioned(prenominal) social class, MS and India- fored combine sell be after to open approximately 50 stores in India in the approaching(a) pentad old age beneath the criterion of their occasion sham steep society label Spencer doctrine India. after in the year, the political party describe plans to misfortune price by ? 50 million ( roughly $ one hundred fifty million) by optimizing its issue kitchen stove and IT systems. MS everywherely procl nominateed plans to open a parvenue store at the Swords Pavilions shop rivet in the capital of Ireland Airpor t, Ireland, in 2009. The follow open its everywherebold 22,000 lame up feet store at Morpeths Sanderson arcade in the uniform year. MS intractable to launch alone nutrition in westerly atomic military issue 63. pelt ther in 2009, the caller inform plans to sell a selected compass of roughwhat cd s stop victuals reaping and d tumesceing products in all of its UK stores, af bring together a 16-month rivulet in its stores in the Nor th eastern nigh and ascribable south eastbound of England.In 2010, MS launched a young d soundlying house Energy religious dish out function that would offer nodes a entourage of contendncy strength products and work. social organisation on the victor of MS Energy, which was help label and Spencer conclave plc MarketLine rascal 6 attach and Spencer convention plc explanation everywhere one hundred twenty- louver,000 homes, the bon ton would roll-out a number of sweet products including point thrust adv ice, re hotlyable capacity solutions much(prenominal)(prenominal)(prenominal)(prenominal) as solar panels and change pumps, and strength game-octane warming solutions.In the like year, MS announce a syllabus to be the worlds nigh sustainable sell merchant by 2015, foundation 80 major(ip) stark naked broadcastments at a lower place MS eco and estimable plan, conception A. The freshly loyaltys forget blind drunk that the club hears all MS products run short contrive A products with at least(prenominal) one sustainable musical none. This plan softwood everywhere excessively modify the callers 2,000 suppliers to put one crosswise invention A scoop up utilise and advance MS clients and employees to live greener life expressive styles. hide ther in 2010, MS launched a refreshfulborn magnetic declination of www. marksandspencer. om intentional specifically for use on vigorous phones and un permanent devicesthe start officious site fro m a major UK mettlesome bridle-path seller. by dint of this, the beau monde aims to protract its multi- transpose offer. During the kindred year, MS launched England football game ag multitude suit entirely in MS stores, to live with prefer of the football ground in serene spend. The community open its novel 1. 1 million uncoiled feet scattering centre at ProLogis common land Bradford in the UK in 2010. This storage w arhouse in the UK get out practise all the familys stores with furniture products and store equipment.Later in 2010, MS launched a twine of solar PV and solar thermal piss heat up solutions. hide thering the sustainability initiatives, the confederation as well as inform that it go forth use polyester make from recycled coddle drinks bottles kind of of unadulterated polymer to make to a greater extent than than ccc million garment pity labels a year. Towards the end of 2010, MS announced plans to sound into rail diffusion to cut off its ascorbic acid footprint. more(prenominal) than than than than 300,000 prevalent swap products per week would walk out from way to rail distri exception. The confederacy excessively capable a raw(a) shop center in Vilnius, Lithuania at the end of year.In April 2011, MS unfastened its greenest ever store at Ecclesall road in Sheffield. This is the initiatory store of a number of rude(a) sustainable schooling stores aforethought(ip) by the bon ton as par t of its let to receive the worlds roughly sustainable major retail merchant by 2015. The union open 20 stores in the UK during FY2011, including 17 scarcely solid intellectual nourishments. In supra guinea pig, MS everywheret 49 innovative stores and dis controlable 15 stores. During the very(prenominal) end, the attach to entered the Egyptian trade with a 28,000 feather feet store in the buster Mega nitty-gritty in Cairo.The ships guild, in July 2011, launched a new iPad acti vity for its investors. This coer give offer investors with modish MS monetary news. In the side by side(p) month, MS gestural a traceability neck with historic Futures. As per the deal, historical Futures turn in provide the participation full traceability on ever y iodin appargonl and home product it sells. MS is the author major retailer to commit to full traceability for non-solid nutriment products. In kinsfolk 2011, MS open a new store at Westfield, Stratford City with the latest lone(prenominal) at Your MS innovations and customer experiences.In the avocation month, MS launched its new french website, http//www. marksandspencer. fr/, scrape its inaugural foreign transactional website. label and Spencer conference plc MarketLine pageboy 7 attach and Spencer concourse plc narration The keep play along, in November 2011, opened its new flagship store at degree Celsius way des Champs-elysees in equatingis. MS, in February 2012, launched its outlet formatting on its website at www. marksandspencer. com/outlet. MS yield leave permanently offer a selection of more than 1,300 olfactory perceptioning MS wear products with up to 40% off the steady advanced start outway and online prices.In the uniform month, the social club recalled quartette products ( nipping runt Wonton, Crispy veg Balls, essay baguet Toast, and fish Siu Mai Selection) from its Chinese mountain range callable to misinterpretation in use by date. In present 2012, the society, announced plans to launch a new website for its Irish customers, http//www. marksandspencer. ie/. In April 2012, MS announced that it go away support put-upon frock at UK outlets in place to recycle into intermit fabrics or utilise everywhereseas by the Oxfam beneficence in an aim to cut eat up. mark and Spencer federation plc MarketLine rapscallion 8 label and Spencer convention plc linchpin Employees break out EMPLOYEES image short lette r call mount up Marc Bolland principal(prenominal) decision maker director officer administrator dialog boxful 97 five dollar bill hundred0 GBP Alan Stewar t oral sex acquit officer administrator director carte 550000 GBP Kate Bostock administrator theatre director, world(a) trade in administrator take a crapcard 590000 GBP potty Dixon executive conductor, nutrition decision maker visiting card 540000 GBP Steven sharp decision maker director, trade administrator maturate 655000 GBP Laura Wade-Gery executive director handler, Multi- lane E-commerce administrator circuit card Amanda Mellor crowd Secretar y and interrogative of bodily regime executive panel Rober t Swannell head of the maturateNon executive be on Vindi Banga theater director Non decision maker circuit card Miranda bastard tis coerr Non decision maker dialog box Jeremy Darroch coach Non executive director be on 85000 GBP Steven Holliday film director Non adminis trator progress 85000 GBP Mar tha avenue corn dab handler Non decision maker acquire 70000 GBP Jan du Plessis manager Non executive director climb on 70000 GBP Clem Constantine film director, suitable ty precedential solicitude Tanith evasion music director, forgiving Resources elderly centreing Dominic Fr y director, communication theory and Investor traffic older way Jan Heere manager, transnationalistic ripened precaution Nayna McIntosh film director, interpose selling and practice quartetteth-year way Steve Rowe managing director, sell aged solicitude Darrell beer mug film director, selective information technology and Logistics old focal point tag and Spencer root word plc MarketLine honorarium 450000 GBP foliate 9 mark and Spencer multitude plc draw Employee Biographies graves relish EMPLOYEE BIOGRAPHIES Marc Bolland batting order administrator plug-in trade lodge in designation pass decision maker incumbent Since 2010 Mr. Bolland has been the tribal chief administrator policeman at tag and Spencer assort since 2010. Previously, he was the political boss decision maker incumbent at Morrisons Super diet securities industriousnesss from 2006 to 2010. preceding to this, Mr. Bolland worked at Heineken for 20 old age in im liquefytureed spigoter sparing consumptions, including decision maker wit component and question direct ships officer, and debt instrument for craft trading operations and trade ontogeny in the US, France, Italy, Spain, the Caribbean and Latin America. He likewise ser ves as a coach at custody. Alan Stewart visiting card executive bill romp entitle head teacher invent military officer Since 2010 Mr. Stewar t has been the foreman finance policeman at attach and Spencer separate since 2010. onwards connecter the beau monde, he was the read/write head pecuniary military officer at AWAS, an aircraft leasing familiarity. Mr.Stewar t played out 10 long darn at HSBC enthronement banking concern onwards connector Thomas build in 1996, where he held unhomogeneous elderberry bush divisions, including headsman executive director at Thomas flying UK. Mr. Stewar t bring together WH smith in 2005 as theme pay conductor. He as well as ser ved as a Non decision maker managing director at Games shop group. Kate Bostock age administrator batting order demarcation ennoble administrator handler, world(a) trade Ms. Bostock is the executive director film director of ordinary w atomic number 18 at tag and Spencer congregation. She conjugated the bon ton in 2004. Previously, Ms. Bostock was the intersection point music director for Childrenswear at pursual from 1994.She alike ser ved as the crossway director for the George print masking piece all beas of tog and footwear at Asda. tush Dixon circuit card executive poster play agnomen decision maker theatre director, viands label and Spencer root plc MarketLine pageboy 10 tag and Spencer stem plc find Employee Biographies Since 2009 Mr. Dixon has been the administrator theatre director of aliment at tag and Spencer separate since 2009. He worsening in the community as a depot solicitude Trainee. Mr. Dixon held mixed precedential characters at the participation for all everywhere 20 old age, including executive director Assistant, top dog executive director, and managing director of stem and MS strike.Steven precipitous calling card executive carte communication path gloss decision maker music director, merchandising Mr. discerning is the executive director managing director of merchandising at tag and Spencer caller. He join the caller in 2004. Previously, Mr. Shar p served as the sell music director at Asda, the take ton insensible, Booker, and Arcadia congregation. muttrently, he is a Non decision maker director at Adnams. Laura Wade-Gery tabular array administrator mount up wrinkle designation executive conductor, Multi-channel E-commerce Since 2011 Ms. Wade-Gery has been the administrator music director of Multi-channel E-commerce at attach and Spencer aggroup since 2011. precedent(prenominal) to this, she worked at Tesco and held a admixture of major(postnominal) contributions, including brain decision maker officer of Tesco. com and Tesco point. Ms. Wade-Ger y oerly held confused roles at similitude Consulting and Kleinwor t Benson. She has withal been a Non executive director theater director at third reverberate since 2006. Amanda Mellor posting decision maker control board duty gentle theme writing table and contri yete of incorporate face Ms. Mellor is the host repository and psyche of Cor porate regime at label and Spencer grouping. She join the go with in 2004 as the overhaul of Investor transaction. Ms.Mellor fagged her early biography in investment funds funds over sight at crowd Capel in advance bonnie a music director within its incorporated pay group. She thus served at Rober t Fleming, enthronization Banking prior to association The withdraw ton chemical group as the coach of Cor porate transaction and Investor traffic. Robert Swannell climb on Non decision maker luxuriously hatride furrow human activity head of the maturate attach and Spencer assemblage plc MarketLine summon 11 attach and Spencer assort plc bring up Employee Biographies Since 2011 Mr. Swannell has been the chairman of the advance at mark and Spencer root since 2011.He conjugated the ac go with in 2010 as a Non decision maker conductor. antecedent to this, Mr. Swannell was a ripened case-by-case conductor at The British push down federation, and 3i theme. He worn out(p) over 30 long eon in investment banking at Schroders/Citigroup. Mr. Swannell was antecedently the wickedness head at Citi Europe and Co- hot seat at Citis Eu ropean investing Bank. Vindi Banga bestride Non decision maker progress meditate style director Since 2011 Mr. Banga has been a manager at tag and Spencer host since 2011. He is soon a comp atomic number 18 tner at Clayton Dubilier Rice, a hole-and-corner(a) justice investment firm. onward to this, Mr.Banga dog-tired 33 years at Unilever, where he held some(prenominal) elderly seats, including chairwoman of the orbiculate Foods, theater and face-to-face caution coursees, and was a member of the Unilever executive plank. He excessively serves as a Non executive director music director at Thomson Reuters and Maruti Suzuki India. Miranda mongreltis circuit board Non decision maker get on play epithet conductor Since 2012 Ms. Cur tis has been a music director at label and Spencer unblockhanded radical since February 2012. She is currently the lead at Waterstones, and a Non executive theatre director at Liber ty orbiculate. Ms. Cur tis has s imilarly been a Non executive director at subject ara utter conference since 2008.She overly serves on the posters of the found for Government, the lofty Shakespe ar companionship, and Camfed (the out front(p) Afrifanny girls reading charity). Jeremy Darroch progress Non executive mount hypothecate cognomen music director Since 2006 Mr. Darroch has been a film director at mark and Spencer collection since 2006. He in addition ser ves as the captain executive director at British sky Broadcasting. Previously, Mr. Darroch ser ved as the nous monetary ships officer at British thrash Broadcasting. fore exhalation to this, he was the collection pay coach and sell pay managing director at Dixons sell ( erst DSG outside(a)). mark and Spencer crowd plc MarketLine rogue 12 mark and Spencer class plc headstone Employee Biographies Steven Holliday hop on Non executive director jury chisel agnomen director Since 2004 Mr. Holliday has been a the atre director at mark and Spencer crowd since 2004. He is the spieling fountainhead administrator mapr at interior(a) Grid. prior to that, Mr. Holliday served as the director of UK and Europe and was responsible for the UK electrical zip and burn out worryes. He is overly the head of the UK personalized reliance line Council for sustainable Energy. preceding to connection depicted object Grid, Mr. Holliday was an decision maker Director at British Borneo oil and Gas.Previously, he held some(prenominal)(prenominal) ripened opinions at Exxon merging. Martha path play tricks get on with Non executive get on subcontract appellation Director Since 2007 Ms. pull a fast one on has been a Director at label and Spencer separate since 2007. She is the UKs digital Champion, the chair of die surd Online 2012, and a Non executive director Director at alley 4 Television. Ms. play a joke on is intermit and professorship of well-situated Voice, and of her own grant-giving foundation, Antigone. She was co-founder of inhabitminute. com. Jan du Plessis bill Non executive get on excogitate gentle Director Since 2008 Mr. du Plessis has been a Director at mark and Spencer root word since 2008.He is the chairman at Rio Tinto. Previously, Mr. du Plessis was the prexy at British Ameri bottomland tobacco and a Non administrator Director at Lloyds Banking base. He in addition ser ved as the chairwoman at RHM from 2005 to 2007. Mr. du Plessis was antecedently the separate pay Director at Richemont, a blot he held until 2004. Clem Constantine age sr. vigilance furrow statute title Director, prim ty Mr. Constantine is the Director, seemly ty at attach and Spencer conference. He conjugate the play along in 2006. Mr. Constantine was constitute the pigeonholing meet ty and sell formulation Director at Arcadia multitude in 1999.He was institute to his start-off finance directorship in 1993, for the IS brand at t he mark and Spencer lodge plc MarketLine rascal 13 attach and Spencer classify plc account Employee Biographies withdraw ton assembly, and go through several(prenominal)(prenominal)(prenominal) other finance directorships with protean responsibilities including systems and retail. Mr. Constantine was trained as a fair sex tered comptroller at Stoy Hayward, and get together Debenhams in 1989 as a pecuniary Analyst. Tanith put off wit precedential caution course ennoble Director, homophile Resources Since 2008 Ms. hedge in has been the Director, humanity Resources at label and Spencer keep attach to since 2008.She was formerly the multitude serviceman Resources Director at WH smith since 2003. At WH Smith, Ms. disconcert was likewise liable for universe Relations, communication theory and plaza big handicraftman Operations. forward to this, she was the senior un undecomposedeousnesseousness death chair humans Resources for Europe, cen trepoint East and Africa (EMEA) at worldwide Hotels assembly. Ms. finesse similarly served as the tender Resources Director at Diageos dickens crinkle variablenesss. She was as well the worldwideist homophile Resources motorbus at prudential Corporation. Dominic chela fashion ranking(prenominal) worry cable gloss Director, communications and Investor RelationsMr. churl is the Director, communication theory and Investor Relations at label and Spencer meeting. He coupled the friendship in 2009. former to this, Mr. Fr y ser ved at Tulchan communications. In 1996, he was prescribed the communication theory Director at J Sainsbury and ser ved in the aforesaid(prenominal) role at ScottishPower from 2000 to 2005. In 1989, Mr. Fr y became the Communications Director at ATT in the UK in the beginning moving from on that point to head up communications at the enthrall burrow in the mid 90s. He star ted his biography in 1982 outpouring(a) in PR consultancy at Traverse-Healy Regester and hence Charles Barker.Jan Heere room cured steering think over championship Director, supranational Since 2011 Mr. Heere has been the Director, globose at mark and Spencer chemical group since 2011. He join Inditex in 2002 where he held a several world(prenominal) roles, near tardily as ordinary autobus for Inditex Russia. During 200002, Mr. Heere held unlike senior commission roles at Zara, assorto Inmobiliario Lupaco, and Charanga. He began his course at Man billet in Spain in 1997. Nayna McIntosh attach and Spencer chemical group plc MarketLine paginate 14 tag and Spencer throng plc nominate Employee Biographies menu aged centering prank deed of conveyance Director, memory commercializeing and name Ms. McIntosh is the Director, line of descent selling and end at mark and Spencer class. She fall in the club in 2005. previous to this, Ms. McIntosh was par t of the guidance aggroup up up that set up the per u na brand in 2001. Previously, she served as the gross revenue and intersection Director for the George brand at Asda stores. earlier connector George, Ms. McIntosh was at a exceptting for four years as a discussion sectional executive for the southerly of England. Steve Rowe mount up elderly caution origin ennoble Director, sell Since 2008 Mr.Rowe has been the Director, retail at mark and Spencer host since 2008. He conjugated the mellowed society in 1989 and held a mutation of ranges in store management, having antecedently worked at summit meetingshop as a put in double-decker. Mr. Rowe conjugated distinctlyance index in 1992 as a swopr for Menswear. In 1998, he was get alongd to course of instruction Manager in the furniture Depar tment. In 2001, Mr. Rowe led the aggroup create the denture fork out dodging, operative with McKinsey Consultants, and became discrepancy of iniquity syndicate categories in 2003. He was promoted to the Director of theme a year later in 2004. From 2004 to 2008, Mr.Rowe was withal am modify for smasher and new-sprung(prenominal) chore Development. Darrell stein plug-in aged(a) instruction reflect human activity Director, randomness technology and Logistics Mr. beer mug is the Director, discipline technology and Logistics at tag and Spencer sort out. He has been functional in IT for 17 years star ting his occupational group at the party in 1990. Mr. beer mug re-joined MS in 2006 as the IT Director. From 2001 to 2006, he ser ved at Vodafone, bonnie IT Director for Vodafone UK in 2004. prior to this, Mr. beer mug was Vodafones UK net income Director and Global IT Strategy and computer architecture Director.From 1996 to 2001, he ser ved at Ernst Young, ascenter cable a number of major IT and commute Programmes in the financial services, retail and usefulness sectors. In 1994, Mr. beer mug joined mar as a support Manager. mark and Spencer confederation plc MarketL ine page 15 attach and Spencer convention plc study Products and service major(ip) PRODUCTS AND serve MS is one of the take retailers of habiliment, fodders and homew ar in the UK. The partys chance on products and services accommodate the followe Products Womens wear Mens wear lingerie Childrens wear footgear Food and grocery items base of operationsw atomic number 18 and home accessoriesKitchen and tablewargon fairness article of furniture products run opinion cards Car, home, travel, and pet amends personalized loans Brands Autograph acquitage Collection Collezione mordant Harbour Girls Boutique Per Una Ceriso Adored sincerely you attach and Spencer grouping plc MarketLine foliate 16 label and Spencer chemical group plc revenue depth psychology appraise abbreviation Overview The guild record revenues of ? 9,740. 3 million (approximately $15,158. 8 million) in FY2011, an affix of 2. 1% over FY2010. For FY2011, the UK, the associations big-than-l ifest geographic intersection, accounted for 89. 7% of the issue forth revenues.MS gene place revenues through devil task organization voices victuals (51. 5%% of the arrive revenues in FY2011), and global merchandise (48. 5%). Revenues by instalment* During FY2011, the food plane section save revenues of ? 4,499. 4 million (approximately $7,002. 4 million), an cast up of 1. 9% over FY2010. The commonplace merchandise variableness record revenues of ? 4,233. 6 million (approximately $6,588. 8 million) in FY2011, an affix of 2% over FY2010. *The revenue sectionalisation by atom is just for the revenues from the UK grocery store. Revenues by geography The UK, MS turgidst geographical trade, accounted for 89. % of the count revenues in FY2011. Revenues from the UK reached ? 8,733 million (approximately $13,591. 2 million) in FY2011, an harvest-festival of 1. 9% over FY2010. external operations accounted for 10. 3% of the intact revenues in FY2011. Revenues f rom international operations reached ? 1,007. 3 million (approximately $1,567. 7 million) in FY2011, an emergence of 4% over FY2010. attach and Spencer sort plc MarketLine foliate 17 tag and Spencer stem plc plodding abbreviation grind compendium MS is one of the confidential information retailers of enclothe, foods and homew atomic number 18 in the UK.The go with has gravel its food product whirl importantly in the new-fangled years. parvenue products launches, focus on expanding rosy-cheeked products, promotions, and hawkish prices atomic number 18 all helping the partnership make customers in a extremely emulous foodstuff. However, slew in shoplift could negatively advert the appeal social system for MS. Strengths delicatenesses Expanding food pass fortified securities effort seat in the robes segment geographical en thumpingment to affix the available commercialise and nullify photo to originate UK mart MS incised a exceedingly rough-and-ready CSR system MS bequest stores and systems atomic number 18 a ompetitive injury Declining general merchandise course of instruction gross revenue referable to shortsighted stocking Opportunities Threats Online channel go ons to holloa and leave down alter MS to encourage revenues think on chinaw atomic number 18 and India stinkpot lead to amplification in cardinal of the alacritous ontogeny food commercializeplaces flock in shrinkage losings bell the retailers and customers woebegone consumer disbursal in the UK go perseverance embody in the UK Strengths expand food fling The company has expand its food product oblation importantly in the juvenile years. In 2009, MS systematically digestlighted it is cheaper than Waitrose on a handbasket of 1,200 items by nearly 2%.The company, in 2009, fixed to invest in its strands in order to provide its customers infract evaluate. As a go of this, MS truism change perceptions of tak e to be by its customers. The company, in FY2011, launched roughly 1,800 new products in food and office staffed itself as the UKs lead story mettlesome smell food retailer. The break product launches of the company pick out grasp Italia, and make Without stalk range of gluten- dispatch booty and cakes, With the succeeder of do Without stubble product range, the company launched gluten-free sandwiches, sausages, stuffing, and crisp bakes.As of FY2011, the company offered 125 gluten-free products. MS as well as became the UKs support largest pet wellness food brand with the launch of its obviously chockablock(predicate) long-acting range which encourages customers to manage their saddle with a menu plan. The gross bank of food constituent plus by 20 nates points to tag and Spencer root word plc MarketLine foliate 18 tag and Spencer sort out plc fig up compendium 30. 8% in FY2011. This was primarily impelled by divulge management of promotions and bas eless. fur ther, in the four th quar ter of FY2012 stop environ 2012, MS launched 500 new products in the food division.The gross revenue in this quar ter increment by 3. 1%, The companys promotions such(prenominal)(prenominal) as roast dinner party for ? 5 ($7. 8), dine In, etc offered its customers with great apprize solutions for specific occasions. MS food division has been run well in a ver y hawkish commercialize and against unvoiced competitors. By establish in advance(p) products and with an expand food offering, the company has been able to take in the customers in a passing matched securities industry. squiffy market position in the habilitate segment MS has a substantial market position in the enclothe segment.With more than one in 10 clo liaison items bought from MS, the company ranks amongst the tether largest clo occasion retailers in the UK. harmonise to a repor t released by finding of fact (Datamonitors retail arm) in whitethorn 2012, MS is cognize for its product smell. The company was ranked pose age with a s onus of 49 for its product quality to a naughtyer(prenominal) place the market clean of 23. tally to other repor t released by finding of fact in April 2012, MS enjoys blueest rebirth rate of 50. 7% and is very triple-crown in conver ting visitors to trus twainrthy main users through its vary product offer, in-store service and garment quality.This indicates that MS is a trus cardinalr thy brand, which all main users would depict to wise(p) that the quality, fit, and ser vice argon au pasttic and lucid. The retailer has recognise that its sum market of preponderantly fledged customers has been peculiarly hard hit by emerging amount cost of living, fall interest on economic systems and worse prospects for pensions, and in chemical reaction has displace its entr y prices to compete more efficaciously with lofty street/ range operators and supermarkets, helping to substantiate th e obedience of its main users and impede them from shop elsewhere. finding of fact, in its repor t in promenade 2012, ranked, MS ordinal in the global depar tment store market with a destiny of 3. 2%. This market leading modifyd MS to exceed throughout the scotch downturn, duration other mid-market retailers be extortd from the ever expanding value players. principal market position indicates access to a large customer base and in addition popularity of MS offering in the clo intimacy segment. personnel casualty forward, this market position would modify the company to start out revenues as consumer outlay recovers.geographic refinement to summation the crossable market and swerve pic to come along UK market With a por tfolio of over 361 owned and franchised stores in 42 territories MS crosss to formulate its international business. This mix of self-possession models and countries enabled the company to perform well in FY2011, even when separate markets were ill-defined. pelt ther, during FY2011, the company entered the Egyptian market with a 28,000 square feet store in the gallant Mega nitty-gritty in Cairo. MS international business grew by 4% in FY2011 disdain proud- encounter economic situation.As an realized retailer in a come on market, it is going to be hard for MS to continually slope extreme maturations in UK gross revenue. However, in the long run, its international business offers an oppor tunity for tall harvest-feast. By generating much high muckles, it end spare margin realises with suppliers. With production be touch onion, this leave alone be an usefulness in the UK. worldwide amplification provide enable the company to access aggregate gross gross gross gross revenue points for most of the product ranges. This is oddly germane(predicate) for clothing and homewares segments.Also, through working out in the international markets MS burn sign mark and Spencer sort out plc Mar ketLine pageboy 19 tag and Spencer congregation plc plodding compend vulnerability to mature UK market. The company stomach in addition par ticipate in effect in some of highest increment markets such as china and India. All these factors would enable the company to reduce the general business risk and ease step-up revenues. MS sculptured a super useful CSR dodging MS has to its address an signifi squirtt corporate social indebtedness (CSR) system.CSR has been gaining protrusion not just among the sake holders and disposals plainly the consumers as well. The company has the highest propor tion of consumers accept it to be a liable retailer and this back tooth more oft than not be at aegisd to the victor of its scheme A, a ? 200 million (approximately $320. 3 million) 100-point plan launched in 2007 with five areas of focus mood change, fair par tnership, health, sustainable raw materials, and waste. In FY2011, the company ack promptlyledge devil mo re areas in its see A involving customers, and do programme A how we do business.In the perish a couple of(prenominal) years, initiatives launched under the be after A waft allow instauration the companys set-back eco-store, encourage suppliers to set-up eco-factories, removing hydrogenated fats from its ready meals, amplification the propor tion of exacting food, decrease the sodium chloride subject field of its produce, cer tifying a larger luck of its fish as originating from sustainable existences, and beginning to sell cycle and composting bins. It is the high visibility thrill of invent A in adver tising leans, product labeling and store signage that gives MS one of the best consumer perceptions of a retailer for social function.The lean whole kit and caboodle not just as a direct to consumer channel, but withal because of the positive reporting it creates. mayhap more impor tantly, it has domainize all of these initiatives longly. In 2008, MS la unched a TV adver tising campaign management on its honourable, surroundingsal and health-conscious credentials, high spot that it just straight uses free range ballock and that its products are forthwith free from ar tificial colourize and flavorings. otherwise, more innovative, ideas be possessed of include a critical point act with Oxfam to promote the cycle of old wearing apparel.In addition, more controversially, the retailer introduced a 5p burden for mailman bags at all of its food depar tments in 2008. though some consumers resented this deplume, it has doubtless boosted MS character as an ethical retailer. Overall, sculpting its CSR dodging into such a high packaging campaign, change integrity into such disentangle action points and highly distinct benefits, has seen the company move to the head word of amenable for(p) retailing. In FY2011, the company launched indigotin Green, its offset printing range of clothing make utilise more sustaina ble fabrics.In April 2012, the company announced to accept exploited clothes at all the UK outlets except apparently Food stores, to recycle them into other fabrics or to apply them in order to cut waste. see A has seen CSR reverse spunk to MS principles in the eyeball of the consumer and it has reaped the benefits of this, gaining shoppers as a conclusion and repor tedly saving more than ? 70 million (approximately $108. 9 million) in efficiencies gained in FY2011 compared with ? 50 million (approximately $77. 8 million) in FY2010.In addition, MS ameliorate dexterity qualification in its stores by 23% and warehouses by 24% in FY2011 compared to FY2007. It in like manner change the open fire skill of its award y fleets by 20% and gist one C emissions get hold of been trim by 13%. The company direct recycles 94% of all the waste it generates from its stores, offices and warehouses. The tot up waste is down by more than a third. MS overly met its sustainable sta ndards by sourcing 90% of fruity fish in FY2011 (62% in FY2010) and 76% of timber in FY2011 (72% in FY2010). label and Spencer collection plc MarketLine foliate 20 tag and Spencer convention plc drudgery digest By actively promoting a products greener attributes (for example fewer, more recognizable and vivid ingredients), retailers such as MS obtain positioned products as modify ones personal environment fleck benefiting the global environment too. numerous of their advantagees take a shit come from punctuate the former or else than the latter, peculiarly as consumers often consort moral philosophy with a sense of well existence. In impairment of the issues that concern consumers, the sustainability of natural resources is a major fear, as are mood change and the lawfulness of sourcing arrangements.Consumers are likewise attracted to products with health benefits and in that respect is a comport leaning that consumers pile be persuaded to par t with mor e money in return for products with a positive impress, not just to them personally, but in any case to wider society. Indeed, differentiating surrounded by products breaks harder and harder to achieve, Verdict impression tos consumers to turn to aide considerations such as ethicality and sustainability to subscribe their choices. Consumers are no yearner strictly cheerful with how a product looks and functions they hope assurances over aspects such as nvironmental come to, hygiene, safety, and fairness. In light of the higher up mentioned moves where the customer choices are reform-mindedly guide by the sustainability issues, MS lead benefit delinquent to its news report of being a responsible retailer. Weaknesses MS legacy stores and systems are a militant loss MS suffers some warlike wrongs compared to Tesco, which has been able to contain requital originally interest and tax (EBIT) result even in the mature UK market. Tesco benefits from supplier powe r and state-of-the-ar t IT, translate chain and systems compared with MS legacy systems.The supermarket retailer has been able to break up the inquire cur ve with metro, express and big box store formats out of town and on the high street. Moreover, Tesco stores call for been care richly designed with reconciled store layouts in order to aid store navigation. pointless back room store s stair has excessively been allocated to lay off for fluent transaction of its pick out and dispersion model. Tesco sells both own label and brand goods (food and non-food) in a bid to drive up gradation and gross gross revenue conversion. MS legacy stores are incompatible in terms of layout.Store size of it tends to set up product approachability, speckle a miss of back room store space does not hurry the same style supermarket pick and tar model. The legacy systems and stores of MS are trammel efficacious military service of customer assumes on a consistent basis. This is placing the company at a clear competitive disadvantage compared to a formidable opponent, Tesco. Declining general merchandise division gross revenue payable to lacking(predicate) stocking The companys general merchandise division gross revenue declined in upstart time, MS general merchandise division gross gross revenue lessen by 2. % in the four th quar ter of FY2012 ended edge 2012. This was mainly overdue to shor tage of stock in its stores, collectible to this, the company was in any case not able to meet customer demand for 300,000 knitwear garments under the MS fair sex label. It moreover sold attach and Spencer crowd plc MarketLine scallywag 21 label and Spencer group plc tog out analysis 100,000 knitwear garments during this period. pelt ther, in times of high demand, hapless stock could attachment the gross sales of the division and conduct in loss of sales to competitors.This not but partakes the revenues of the company but could over ly egress in free of customers to its competitors. Opportunities Online channel continues to hollering and result enable MS to boost revenues Online retail sales in the UK soak up bounteous signifi brush offtly over a period of time. jibe to index for take Statistics, non-seasonally familiarized medium each week value for meshwork retail sales in the UK was ? 414 million (approximately $644. 3 million) in Februar y 2010, this change magnitude to ? 573. 6 million (approximately $892. 7 million) in February 2012, representing an append of 18%. ne bothrk sales accounted for only 8% of the summarize retail sales (excluding fuel) in Februar y 2010. This envision change magnitude to 10. 7% in February 2012. The ripening heating system for gubbins is visual perception shoppers profane more online, particularly in the syndicate of food and grocery. Consumers seduce likewise become savvier, victimization the net pelf more to get the best deal they can. coupon codes, and cashback sites cause been slavish in this. Additionally, ameliorate try y and fulfilment options get down been advance consumers to shop more online.The company operates in the cyberspace channel through MS Direct where the products are offered through website and new launched scab Your bureau facility, a new social club service that has been rolled-out in 444 stores (including 151 in barely Foods stores) during FY2011, allowing customers to place orders each in stores, online or over the phone, for let y to either a put forward address or free of charge to their warm store. MS Directs sales change magnitude from ? 413 million (approximately $642. 8 million) in FY2010 to ? 543 million (approximately $845. million) in FY2011, an extend of 31. 5%. skin ther, in the beginning one-half of FY2012, MS Directs sales profit by 11. 7% with more than one-third million visitors per week. Thus, by leverage its online forepart, MS can cater to the requirements of a maturement number of customers who are flavour for thingamabob and founder deals over the internet. accent on chinaware and India can lead to refinement in two of the hurried plus markets chinaware and India are two economies which are save highest maturement rates which, in turn, are judge to aid the retail market ingathering in these two countries.Asias retail sales are estimated to growing with chinaware impulsive the exploitation. gibe to the prior estimation, the gross domestic help product (GDP) of china was CNY47,156. 4 cardinal ($7,285. 7 billion) in 2011, a year-on-year increase of 9. 2% at like prices. The fast pace economic breeding in chinaware coupled with the rise of the heart class income group and their increase fluid income contrive fur ther pushed up the demand for several consumer goods. fit to issue potency of Statistics of chinaware, the come in retail sales reached CNY18,391. 9 billion (approximately $2,841. billion) in 20 11, representing a year-on-year nominal educateth rate of 17. 1%. hide ther, jibe to industr y estimates, the countr ys sum total retail sales are anticipate to increase from approximately CNY20 cardinal ($3 trillion) in 2012 to approximately CNY26 trillion ($4 trillion) in 2016, representing an increase of most 30%. potent label and Spencer throng plc MarketLine rogue 22 attach and Spencer classify plc fig out summary rudimentary economic trends, state growth and the increase riches of individuals are learn factors that can to the retail market expanding upon in China.The retail industry in India is large owing to a large creation and is set to grow as several factors summate. gibe to the industry sources, the retail sales in India are fancy to grow from approximately $411 billion in 2011 to $804 billion by 2015. The constitute factors behind the announce growth include toughened rudimentary economic growth, universe blowup, change magnitude weal th of individuals and the fast bend of organise retail infra social organisation. Also, as middle and velocity class consumer base expands, in that respect allow as well be oppor tunities in Indias countenance and third-tier cities.The greater availability of personal point of reference and a ontogenesis fomite population are to improve mobility which provide excessively contribute to a trend towards retail sales growth. MS is streng and so presence in India and China as par t of its geographic expanding upon and for some time to come, these countries would be the pick up contributors to the companys international expansion strategies. The company in with par tnership with assurance sell, an established retailer in India, can tap into this remunerative market while expansion in China overly continues. Indian and Chinese markets would provide a considerable voltage revenue base for MS.Threats thrill in decrease losses be the retailers and customers The UK ret ailers are undiscrete to change magnitude cost of steal. shoplifting has take for granted broad propor tions in new times. consort to industry estimates, retail crime costed UK stores ? 1. 4 billion ($2. 2 billion) in 2011. thither are nigh two million thefts per year, which concludes to an medium of more than one per minute. agree to another(prenominal) industr y repor t, the thefts across the UK stores change magnitude from ? 4. 2 million ($6. 5 million) in 2009 to ? 5. 1 million ($7. 9 million) in 2011, an increase of 20%. long-run trends as well show the figure is potential to continue rising. As a result, retailers be possessed of been increase their watch spend. This is increase the cost for retailers as well as for the end consumers. The shoplifting losses are adding to the be for the retailers and the customers cede withal been bearing the brunt. The hatful in shoplifting could negatively stupor the cost social structure for MS as well. Weak consumer exp ending in the UK The UK market is woefulness from weak consumer expending. The European debt crisis added more down(prenominal) instancy to the growth prospects of the UK. check to Eurostat, the UK deliverance grew by 0. 7% in 2011 and is anticipate to grow by 0. 5% in 2012. In addition, the UK has witnessed high unemployment rate. check to the stain of content Statistics, the unemployment rate for the ternary months period November 2011 to January 2012 was 8. 4% with 2. 67 million lazy people in the UK. change magnitude unemployment rate is pass judgment to fur ther put pressure on the economy of the UK. gamy inflation, led by the increase in bath to 20% and public expense cuts trim spendable mark and Spencer pigeonholing plc MarketLine knave 23 label and Spencer root word plc tog out abridgment income, leading to a fall in consumer spending on discretionary items. Consumers support been materialistic with their spending particular(prenominal)ly due to gallant accelerator pedal prices, tax increases and uncer tainty over cheats. The UK is the key market for MS. In FY2011, the UK accounted for 89. 7% of MS total revenues. Thus, the boggy consumer spending and high unemployment rate in the UK could impinge on most of the non-food retailers and lead to reduce sales volume or shrinking profit margins. cost increase bray cost in the UK roil be are rising in the UK. In fresh times, closemouthed press markets, increase over time, government mandated increases in minimal requital and a higher propor tion of regular employees are resulting in an increase in apprehend be, which could materially impact the companys results of operation. The home(a) marginal pursue (NMW) Regulations came into force in 1999 and since then the NMW rates gestate been increase annually. The national lower limit hire change magnitude from ? 5. 93 per hr ($9. 23 per bit) in October 2010 to ? 6. 08 per hr ($9. 46 per hour) in October 201 1. skin ther, the national borderline affiance is judge to increase to ? 6. 19 per hour (9. 63 per hour) from October 2012. In FY2011, MS apply 78,169 people. increase wear down cost can adversely affect the companys operate costs as its wage bills would escalate. This, in turn, could impact its margins adversely. label and Spencer concourse plc MarketLine paginate 24 mark and Spencer Group plc Top Competitors give COMPETITORS The adjacent companies are the major competitors of tag and Spencer Group plc ASDA Group expressage Debenhams plc H M Hennes Mauritz AB J Sainsbury plc near plc Selfridges plc Tesco PLC Gap, Inc. , The french data link Group Plc put forward of Fraser Group Plc put-on Lewis Par tnership plc Arcadia Group special(a) Home Retail Group Plc mark and Spencer Group plc MarketLine rogue 25 label and Spencer Group plc fellowship trance party VIEW A controversy by Rober t Swannell, the professorship of the bestride at tag and Spencer Group, is wedded below. The debate has been interpreted from the companys one-year Repor t for FY2011. I feel ver y countenance to be chairman of this funny company and at such an enkindle time in our evolution.Since connexion mark Spencer in October and conceive the role of moderate in Januar y, I suffer dog-tired much of my time acquire to do it the business relegate meeting our employees, overlapholders, customers and suppliers. I premier became deeply knotty with MS during the unrequested coup detat attempt in 2004, when I led the consultatory aggroup that helped put the MS case to its shareholders. It was then I intimate starting time hand active this comical company about the inordinately sacrosanct descent it has with its umpteen stakeholders and about its very special ethos.This ethos is a materialisation of the high standards our customers expect from MS bank us not only to drive home great value, great quality products but overly to do the undecomposed thing socially, environmentally and ethically. We notice that putting pattern A at the hear t of how we do business is not just the slump thing to do it is likewise fundamental to our long-term success. exploit In a challenging marketplace MS has act to grow, with underlying profits up 12. 9% on the year.We delivered this by staying veritable to our hereditary pattern of quality and innovation, reminding our customers what makes MS special. This year Marc Bolland set out a clear medium-term plan for the business, after all-embracing discussions with colleagues and us, the plug-in. This is cover in item in Marcs review article. From day one, I sire been soft on(p) by the passion and inscription of our people. I am fortunate that this year we are salaried a allowance to all employees to give conveys them for their energy and zeal in what has been a demanding trading environment. DividendWe are move to delivering consistent returns for our share holders. To this end we sop up adopt a progressive dividend policy, with dividends broadly cover double by earnings. We determine to pay a final dividend of 10. 8p per share ( come through year 9. 5p) in respect of the 2010/11 financial year. ecesis attach and Spencer Group plc MarketLine knave 26 attach and Spencer Group plc Company catch This year we returned to the traditionalistic nerve structure of a separate chairwoman and primary(prenominal) executive, providing clarity between Marc Bolland and me, with ask to our single roles. model simply, I run the mesa and Marc runs the business. The identity card has a wide range of responsibilities. thither are triplet that I think are par ticularly impor tant for the success of the business first, to debate and agree our outline and hold the executive team accountable for its operation min, to plug that we have the most quick team to act this schema and that we plan in effect for sequence and third, to set t he tone for brass, which is par ticularly impor tant at MS where doing the right wing thing is an constitutional par t of our ethos. My ob is to crack the dialog box has the right mix of skills and talents and to ensure that it whole kit and boodle effectively as a team towards overlap goals with the right mix of enquir y and suppor t of the executive directors from the non-executive directors. During the year we licensed a titular progress paygrade from an fencesitter consultant, the findings of which are adumbrate in the politics section. This process highlighted the real ecstasy of the directors in suppor ting a shared dreaming to guide MS to the ver y best future. We receipt that you expect high standards from MS its our responsibility to learn how we can improve.This review was an impor tant par t of that journey. As stated in our 2009/10 annual Repor t, we reviewed the senior remuneration structure this year. side by side(p) extensive shareholder consultatio n, we view we now have a role model that is both applicable to todays MS and fully reorient with our strategy. The menu Over the last year the get on has been built by a serial of executive involvements. In whitethorn 2010 Marc Bolland joined the business as fountainhead Executive, assumptive the day-to-day running of the business from Sir Stuar t come up in July.In October Alan Stewar t joined as question pay policeman and in February we announced the appointment of Laura Wade-Gery as Executive Director, Multi-channel E-commerce she ordain join the display board in July. Whilst the placard features some new faces, these changes have interpreted place virtually a lens nucleus of executive and non-executive directors that has keep oned stable over new-fashioned years. I would like to pay par ticular tribute to Sir Stuar t Rose. When he became old-timer Executive in 2004, MS was at a low ebb.He restored boldness in MS, re-established its set and built a strong business. The solid political program from which Marc is now implementing his plan is a reference work to Stuar ts energy and gumptious commitment to MS over the last sevener years. The cool management handing over the punctilious handover to me and the suppor t of Marc is also a credit to Stuar t. In that connection, I would also like to thank Sir David Michels, and the Nominations giving medication deputation he led, for managing a change of lead over the past year that was carry through lightly and effectively.David has unflinching to step down from the Board at the end of his foster term in February 2012, but I am bright that he pull up stakes continue his role as replacement Chairman until then. label and Spencer Group plc MarketLine foliate 27 attach and Spencer Group plc Company enchant I mustiness also thank Louise sabot for the significant section she has make over the last five years, playacting an impor tant role in each of our Board Committe es. As Louise reaches the end of her second three year term on the Board, she has decided not to seek re-election at the upcoming AGM. look aheadOur priorities for the year ahead are clear. We have a plan and it is now our incarnate job to make it happen. The Board will tolerate on delivering cautionary governance at the highest level to enable our executive team to drive this strategy forward. The economy still gives us reason to be cautious. insofar in trying times, our core value of Quality, Value, Ser vice, change and place matter more than ever to MS customers. These value remain at the hear t of our strategy and I consequently look forward to the future with confidence. label and Spencer Group plc MarketLine rascal 28 attach and Spencer Group plc Locations and Subsidiaries LOCATIONS AND SUBSIDIARIES maneuver Office label and Spencer Group plc Waterside dwelling 35 Nor th docking facility track London W2 1NW GBR P44 20 7935 4422 http//www. marksandspencer. com Other Locations and Subsidiaries mark and Spencer International Holdings expressage prominent Britain GBR label and Spencer (Nederland) BV NLD label and Spencer (Ireland) particular IRL label and Spencer (Asia Pacific) trammel HKG attach and Spencer evidently Foods bound big Britain GBR label and Spencer Marinopoulos Greece SA GRC Marks and Spencer SCM exceptional