Marks and Spencer 2011 Annual Report Download - page 31
Download and view the complete annual report
Please find page 31 of the 2011 Marks and Spencer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.1BSUMZPXOFE
*OEJBSFNBJOTBQSJPSJUZNBSLFUGPSVTBOE
UISPVHIPVUXFTBXHPPE
MJLFGPSMJLFHSPXUI*OQBSUOFSTIJQXJUI
3FMJBODF3FUBJMPVSTUSBUFHZJTUPGPDVTPO
LFZDJUJFTTVDIBT%FMIJ8FPQFOFEGPVS
TUPSFTEVSJOHUIFZFBSBOEOPXIBWF
JO*OEJB
8FIBWFNBEFPVSQSJDJOHNPSFDPNQFUJUJWF
UISPVHICFUUFSMPDBMTPVSDJOH0WFSPG
QSPEVDUTBSFOPXTPVSDFEGSPNUIFSFHJPO
BOEUIJTIBTSFTVMUFEJOBNPSFUBJMPSFE
QSPQPTJUJPOGPSPVS*OEJBODVTUPNFST
8FDPOUJOVFEUPHSPXPVSCVTJOFTTJO
$FOUSBMBOE&BTUFSO&VSPQFPQFOJOH
OFXTUPSFTNBJOMZJOUIF$[FDI3FQVCMJD
BOE1PMBOE
5IFFDPOPNJDTJUVBUJPOJO(SFFDF
SFNBJOFEDIBMMFOHJOH)PXFWFSXJUIB
TUSFOHUIFOFENBOBHFNFOUUFBNBOE
DPOUJOVJOHSJHPVSJOTUPDLDPOUSPMUIF
CVTJOFTTJTXFMMQPTJUJPOFEGPSXIFO
USBEJOHDPOEJUJPOTJNQSPWF
'SBODIJTF
8FPQFOFEOFXGSBODIJTFTUPSFT
UIJTZFBSBOEGSBODIJTFPQFSBUJPOTOPX
BDDPVOUGPSBQQSPYJNBUFMZBUIJSEPGPVS
*OUFSOBUJPOBMTBMFT8FXPSLFEIBSEUP
DSFBUFBNPSFDPMMBCPSBUJWFDVMUVSFXJUI
PVSLFZGSBODIJTFQBSUOFSTBOEUIJTZFBS
XFPQFOFEPVSfiSTUTUPSFJO$BJSP&HZQU
XJUIPVS(VMGQBSUOFS"M'VUUBJN8FBMTP
PQFOFEfiWFOFXTUPSFTJO3VTTJBGPVSJO
5VSLFZBOEGPVSJOUIF6LSBJOFXJUIPVS
GSBODIJTFQBSUOFS'JCB
8FBSFBMTPFYQMPSJOHPQQPSUVOJUJFTXJUI
PVSFTUBCMJTIFE6,GSBODIJTFQBSUOFS441
UPTVQQPSUPVSSFUVSOUP'SBODF8FQMBO
UPPQFOBOVNCFSPG.BSLT4QFODFS
4JNQMZ'PPETUPSFTBUTUSBUFHJDMPDBUJPOT
JOBOEBSPVOE1BSJTUPDPNQMFNFOUPVS
flaHTIJQTUPSFPGGFS
-PPLJOHBIFBE
8FIBWFBOPQQPSUVOJUZUPNPWF.4
GSPNB6,SFUBJMFSUIBUFYQPSUTUPBUSVF
JOUFSOBUJPOBMCVTJOFTT8FIBWFTFUB
UBSHFUPGHSPXJOHPVS*OUFSOBUJPOBMTBMFTCZ
CFUXFFObNBOEbNCZ
8FXJMMXIFSFOFDFTTBSZSFTIBQFPVS
TVQQMZDIBJOBOECVJMEPVSJOUFSOBUJPOBM
DBQBCJMJUJFTUPIFMQDSFBUFBQMBUGPSNGPS
GVUVSFHSPXUI
8FXJMMDPOUJOVFUPBQQMZUIFNPTUTVJUBCMF
PXOFSTIJQNPEFMTUPEJGGFSFOUNBSLFUT
XJUIUIFFNQIBTJTPOGPSHJOHTUSPOH
SFMBUJPOTIJQTJOPVSGSBODIJTFPQFSBUJPOT
BOEBEPQUJOHQBSUMZPSXIPMMZPXOFE
NPEFMTXIFSFBQQSPQSJBUF8FXJMMCVJME
BTUSPOHMFBEFSTIJQQPTJUJPOJOPVSQSJPSJUZ
NBSLFUTCZPQFSBUJOHflaHTIJQTUPSFT
TVSSPVOEFECZTNBMMFSTVQQPSUJOHTUPSFT
5PDPNQMFNFOUPVSTUPSFTXFXJMM
JOUSPEVDFNPSFUBJMPSFEXFCTJUFTGPS
TQFDJfiDMPDBMNBSLFUTGSPN
Ç
.BEFUPNFBTVSF4IPQQFSTJOPVS4LZ.BMMTUPSF
4IBOHIBJOPXIBWFBDDFTTUPBNPSFUBJMPSFE
DMPUIJOHPGGFS
Ç
3FUVSOUP'SBODF.BSD#PMMBOEIPTUFEBQSFTT
DPOGFSFODFPOUIF$IBNQT²MZTÏFTUPNBSLPVSSFUVSO
UP1BSJT5IF'SFODINFEJBFOKPZFEBDBUXBMLTIPX
PGUIF.4DMPUIJOHSBOHFTBOETBNQMFEPVSMBUFTU
GPPEJOOPWBUJPOT
È
5PQNBSLT4IBMJOJ/BBHBSJT)FBEPG)VNBO
3FTPVSDFTBU.BSLT4QFODFS3FMJBODF*OEJB
+PJOJOHJO+VOF4IBMJOJXBTUIFfiSTUFNQMPZFF
PGUIFQBSUOFSTIJQ4IFJTSFTQPOTJCMFGPSPWFS
FNQMPZFFTFOTVSJOH.4QPMJDJFTBSFFGGFDUJWFMZ
JNQMFNFOUFEJO*OEJBBOEXBTSFDFOUMZSFDPHOJTFE
GPSIFSDPOUSJCVUJPOUPUIFfiFMEXJUIBA(MPCBM)3
&YDFMMFODF"XBSE
0VS*OUFSOBUJPOBMPQFSBUJPOT
"OFUUPUBMPGOFXTUPSFTJO
4PVUIFSOBOE
&BTUFSO&VSPQF
TUPSFT
OFXTUPSFTPQFOFE
'BS&BTU
TUPSFT
OFXTUPSFTPQFOFE
.JEEMF&BTU
TUPSFT
OFXTUPSFTPQFOFE
.FEJUFSSBOFBOBOE*TMBOET
TUPSFT
OFXTUPSFPQFOFE
0UIFS#FSNVEB
TUPSF
*OEJBOTVCDPOUJOFOU
TUPSFT
OFXTUPSFTPQFOFE
*SFMBOEBOE$IBOOFM*TMBOET
TUPSFT
OFXTUPSFTPQFOFE
7REHXSGDWHG
'JOBODJBMTUBUFNFOUT
PUIFSJOGPSNBUJPO(PWFSOBODF'JOBODJBMSFWJFX1FSGPSNBODF.BSLFUQMBDF4USBUFHZ0WFSWJFX 0QFSBUJOHSFWJFX
5PfiOEPVUNPSFWJTJUNBSLTBOETQFODFSDPNBOOVBMSFQPSU %JSFDUPSTSFQPSU