Marks and Spencer 2011 Annual Report Download - page 7
Download and view the complete annual report
Please find page 7 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.$POSBO&YDMVTJWF%FTJHOPOMZ
BU.45IJTQBSUOFSTIJQXJMMGPSNUIF
CBTJTPGPVSA$POUFNQPSBSZIPNF
PGGFSQSPWJEJOHDVTUPNFSTXJUIUIF
RVBMJUZBOEWBMVFUIFZFYQFDUGSPN
.4DPVQMFEXJUIUIFVOJRVF$POSBO
EFTJHOTJHOBUVSF
*OWFTUNFOUJOPVS
6,C V TJ OF T TCZ
'PDVTPO6,SFWFOVFHSPXUI
CZ
bN
bCO
4USBUFHZ
'JOBODJBMTUBUFNFOUT
PUIFSJOGPSNBUJPO(PWFSOBODF'JOBODJBMSFWJFX0QFSBUJOHSFWJFX1FSGPSNBODF.BSLFUQMBDF0WFSWJFX
%JSFDUPSTSFQPSU
'PDVTPO6,0VSJNNFEJBUFQSJPSJUZJTUIFFOIBODFNFOUPGPVS
DBQBCJMJUJFTJOUIF6,8FXJMMBDIJFWFUIJTUISPVHIEFWFMPQJOHUIF
.4CSBOEJNQSPWJOHPVSTUPSFTBOEGPDVTJOHPOPVS$MPUIJOH
)PNFBOE'PPECVTJOFTTFT
#SBOE
5PHFUIFSXJUIPVSQFPQMFUIF.4CSBOEJTPOFPGPVSTUSPOHFTUBTTFUTo
SFflFDUFECZUIFFYUSBPSEJOBSZUSVTUPVSDVTUPNFSTQMBDFJOJU#VUXIBUNBLFT
.4USVMZTQFDJBMJTCFJOHTQFDJBM*GZPVMPPLCBDLJOUPPVSIJTUPSZXFIBWF
CFFOTVDDFTTGVMCZEPJOHUIJOHTEJGGFSFOUMZBOEOPUCZDPQZJOHPUIFST
8FIBWFBMXBZTJOWFTUFEJOJOOPWBUJPOCVUXFIBWFOPUBMXBZTTIPVUFEBCPVU
JU4PJO/PWFNCFSXFMBVODIFEPVSOFXCSBOEQPTJUJPOJOHoA0OMZBU:PVS
.4oUPTIJOFBMJHIUPOUIFAIJEEFOUSFBTVSFTBDSPTTPVSSBOHFT'JSTUVTFE
JOPVS+BOVBSZBEWFSUJTJOHA0OMZBU:PVS.4IBTNBEFVTSBJTFUIFCBSGPS
JOOPWBUJPODSFBUJOHBOFXCFODINBSLoDPOTUBOUMZBTLJOHPVSTFMWFTA*TUIJT
HPPEFOPVHI
A0OMZBU:PVS.4JTOPXUIFLFZNFTTBHFPGPVSNBSLFUJOHDBNQBJHOT
'VSUIFSEFUBJMTPGPVSCSBOETUSBUFHZBSFTFUPVUCZ4UFWF4IBSQPOQBHF
$MPUIJOH
.4JTUIF6,TMFBEJOHDMPUIJOHSFUBJMFSBOEUIJTZFBSXFFYUFOEFEPVS
MFBEHSPXJOHNBSLFUTIBSFBDSPTTBMMBSFBT4BMFTJODSFBTFECZ
5IJTQFSGPSNBODFXBTESJWFOCZPGGFSJOHNPSFDIPJDFFYDFMMFOURVBMJUZ
BOEBQQSPQSJBUFBEBQUBUJPOTPGUIFZFBSTLFZTUZMFToBMMBUHSFBU.4WBMVF
8FEFMJWFSFEFYDFQUJPOBMQFSGPSNBODFTJO-JOHFSJFBOE.FOTXFBSBT
EFUBJMFECZ,BUF#PTUPDLPOQBHF
8FBSFCVJMEJOHPOUIJTNBSLFUMFBEJOHQPTJUJPOCZTUSFOHUIFOJOHPVSTUZMF
DSFEFOUJBMTBOENBLJOHPVSDMPUIJOHSBOHFTFBTJFSUPTIPQ0VSDVTUPNFST
IBWFUPMEVTUIFZfinEUIFQPTJUJPOJOHPG.4DMPUIJOHBOEPVSTVCCSBOET
VODMFBS8FLOPXUIFIJHIMFWFMTPGRVBMJUZBOEVOJRVFJOOPWBUJPOTUIBUFYJTUJO
PVSDPSFSBOHFBSFOPUBMXBZTOPUJDFECZPVSDVTUPNFST4PXFBSFSFMBVODIJOH
PVSDPSF.4DMPUIJOHNBLJOHJUBCSBOEJOJUTPXOSJHIUBOEQSPNPUJOHUIF
SBOHFTTUZMFJOOPWBUJPOTBOE1MBO"DSFEFOUJBMT
8FBSFBMTPEFWFMPQJOHPVSTVCCSBOETUPHJWFUIFNUIFJSPXOEJTUJODU
JEFOUJUJFT8JUIUIFTVQQPSUPGEFEJDBUFECSBOENBOBHFSTXFBSFUVSOJOHUIFN
GSPNAMBCFMTUPSFBMCSBOETUIBUXJMMUSBOTMBUFJOUFSOBUJPOBMMZ
)PNF
*OPVS)PNFCVTJOFTTTBMFTXFSFVQEFTQJUFEJGfiDVMUUSBEJOHDPOEJUJPOT
"TDVTUPNFSTJNQSPWFEBOEVQEBUFEUIFJSIPNFTSBUIFSUIBONPWFXFTBX
HPPETBMFTJOBDDFTTPSJFTBOETPGUGVSOJTIJOHT
8JUIPOMZPGPVSDVTUPNFSTTIPQQJOHJO)PNFXFIBWFBSFBMPQQPSUVOJUZ
UPHSPXUIJTCVTJOFTTGVSUIFS0VSQMBOJTUPPGGFSHSFBUFSDIPJDFBOENBLF
PVSDPSF)PNFPGGFSNPSFBDDFTTJCMFJOMBSHFSTUPSFTBOEPOMJOF8FBSF
BMTPNBLJOHJUFBTJFSUPTIPQoEJWJEJOHPVSPGGFSJOUP$MBTTJD$POUFNQPSBSZ
BOE%FTJHODBUFHPSJFTTPUIBUDVTUPNFSTDBOFBTJMZJEFOUJGZXIJDIMJGFTUZMF
CFTUfiUTUIFN0VSXJUIESBXBMGSPN5FDIOPMPHZJTFOBCMJOHVTUPGPDVTPO
HSPXUIEFQBSUNFOUTTVDIBTLJUDIFOXBSFBOECFEEJOH8FBSFBMSFBEZ
CVJMEJOHNPNFOUVNUISPVHIPVSFYDJUJOHOFXEFTJHODPMMBCPSBUJPOXJUI
4JS5FSFODF$POSBO
Ê
5SBEJOHVQUPRVBMJUZ0VSA(PPEA#FUUFSBOEA#FTU
QIJMPTPQIZPGGFSTBCSFBEUIPGQSJDFQPJOUT"T
DVTUPNFSTNBOBHFEUIFJSCVEHFUTDBSFGVMMZUIJTZFBS
UIFZJOWFTUFEJORVBMJUZ-BTUZFBSUIFTUSPOHFTU
QFS GPSNFSTJOMBEJFTGPPUXFBSXFSFPVSA(PPESBOHFT
CVUUIJTZFBSPVSA#FTUSBOHFTXFSFUIFNPTUQPQVMBS
XJUITBMFTVQ