Marks and Spencer 2007 Annual Report Download - page 102

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110000MARKS AND SPENCER GROUP PLC wwwwww..mmaarrkkssaannddssppeenncceerr..ccoomm//aannnnuuaallrreeppoorrtt22000077
Glossary
Better buying
Refers to the way we now buy our clothing – at the right time,
in the right amount at the right price.
Business Involvement Groups (BIG)
Comprise some 3,500 people across M&S, elected to represent
their colleagues’ views when the Company is informing,
consulting and involving staff on matters relating to work and
employment.
Buying direct
Buying directly from a supplier. Around 30% of the general
merchandise we buy is sourced ‘direct’.
Buying in greater depth
Buying more of a particular product or range to meet demand.
Core business
Our main UK business - selling clothing, food and home
products.
Earnings per share (EPS)
The profit for the year attributable to shareholders, divided by
the average number of shares in issue.
Fast fashion
Products available in the latest styles, only weeks after they
have been on the catwalk. Developed from sample to sales
floor in only eight weeks.
Footfall
The number of people who visit our stores.
Full service vendors (FSVs)
A supplier who provides a full design, commercial, sourcing,
manufacturing and shipping service of our products from
source to our distribution centres in the UK. Around 70% of
what we buy is sourced through FSVs.
General merchandise
Our clothing, footwear, home and beauty products
(i.e. all non-food).
Gross margin
Sales less the cost of goods sold, as a percentage of sales.
Market share
The percentage of the market or market segment that is being
serviced by M&S. For instance, if 100 t-shirts were sold a year
in the UK and M&S sold 10 of them, it would have 10%
market share.
M&S Direct
Our online, phone and catalogue services, including the
flower, wine and food ordering business, as well as the
home catalogue.
Open to buy
Budget we set aside so that we can buy more of a popular
product or buy into new trends during the season.
Opening price point (OPP)
The starting price for our ranges. For example, t-shirts at £5
or bras at £6.
Our core values
The values which underpin our business: quality, value, service,
innovation and trust.
Plan A
Our new £200m, five-year ‘eco plan’.
Total shareholder return (TSR)
The increase or decrease in value of £100 invested in Marks
and Spencer Group plc on 30 March 2002 compared to £100
invested in the FTSE 100 over the same period.
Value
At M&S, price and quality combined makes ‘value’.
Volume
The number of individual items we sell.
This document is printed on Revive uncoated, a 100%
recycled paper made from post-consumer collected
waste. Revive uncoated is manufactured to the certified
environmental management system ISO 14001.
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