Marks and Spencer 2007 Annual Report Download - page 2

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We are one of the UK’s leading retailers, with over
15.8 million people visiting our stores each week.
We offer stylish, high quality, great value clothing and home products, and outstanding quality
foods, all responsibly sourced from suppliers we trust. We employ over 75,000 people and have
520 UK stores, as well as an expanding international business.
Clothing & Home
UK sales (exc. VAT) £4,002.8m (+9.6%)
We are the UK’s largest clothing retailer
with a market share of 11.1% (source:
TNS Worldpanel) and sales accounting
for 44.8% of our UK business. In
womenswear we expanded our
‘Autograph’ range and the fast fashion
choice in ‘Limited Collection’; in
menswear, ‘Blue Harbour’ remains the
UK’s biggest men’s casualwear brand;
we grew our lingerie market share to
26.1%, offering clearly defined brands;
and in childrenswear we reversed our
poor performance with stronger ranges.
Home, representing 5.4% of our UK
business, has had two years of strong
growth helped by outstanding value
and strong demand in furniture.
read more on pages 12-15 >>
Food
UK sales (exc. VAT) £3,974.7m (+9.7%)
Food accounts for 49.8% of our UK
business and we have a market share
of 4.3% (source: TNS Worldpanel). In
2006/07, we launched a range of 120
‘Nutritionally Balanced’ ready meals
which are free from artificial colours,
flavours and hydrogenated fats and
follow government salt, fat and sugar
guidelines. ‘Eat Well’ accounts for
around 30% of food sales and some
1,300 products. Simply Food grew from
144 stores to 205 across the UK,
including franchise stores in BP
Connect forecourts, motorway service
stations, railway stations and airports.
read more on pages 16-19 >>
International
Sales (exc. VAT) £610.6m (+16.8%)
Our international business accounts for
7.1% of Group turnover and has grown
to 219 franchise stores in 34 territories
worldwide as well as eight wholly-
owned stores in Hong Kong and 13 in
the Republic of Ireland. During the year,
we entered four new territories and
opened 36 new stores including our
largest ever franchise store in Dubai at
52,000 sq ft. In May 2007, we opened
our first store in Taiwan under a joint
venture with President Chain Store
Corporation.
read more on page 24 >>
02 2007 performance
03 Chairman’s foreword
04 Executive team
06 Chief Executive’s
business review
08 Our marketplace
09 Our brand
10 Plan A
12 Product – Clothing and home
16 Product – Food
20 Service
20 Our people
20 Our customers
22 Environment
24 International
25 Online
26 Looking ahead
27 Your Board
28 Financial review
31 Group Director’s report
35 Corporate governance
statement
44 Remuneration report
51 Auditors’ report
52 Consolidated income statement
52 Consolidated statement
of recognised income
and expense
53 Consolidated balance sheet
54 Consolidated cash flow
information
55 Notes to the financial
statements
90 Company income statement
WHAT’S INSIDE...
90 Company balance sheet
91 Company statement of changes
in shareholders’ equity
91 Company cash flow statement
92 Company notes to the financial
statements
94 Group financial record
97 UK store portfolio
98 Shareholder information
100 Glossary
101 Index