Marks and Spencer 2008 Annual Report Download - page 7

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It’s been another good year for M&S, achieved in
difficult circumstances. We started with a strong
first half, but experienced more difficult trading
conditions in the second half, largely as a result
of the economic slowdown.
Having completed the first phase of our recovery,
we are now broadening our plan in order to take
the business into the next stage of growth. In
2008/09 we will need to manage the business
in a challenging economic environment, while
continuing to invest for future growth.
Broadening the plan
In 2004 we put in place a three-part plan for renewing and reinvigorating M&S
in order to secure profitable growth and build the business for the long term.
Our focus was on getting the basics right, by improving the products we offer,
our customer service and shopping environments.
In 2007/08 we continued to make progress against the plan. We sold more
goods to more people, reporting our biggest volume increase in sales in eight
years, with volume market share in clothing and footwear at 11.2%. At the
same time, we held our lead in the value market for clothing and footwear
achieving 11.0% market share. Clothing and home sales were up 1.4% to
almost £4.06bn. Per una also performed strongly under the leadership of
George Davies, reporting sales of more than £428m.
Highlights
£1,007m
Adjusted pre-tax profits
4.3%
Increase in adjusted pre-tax profits
£9,022m
Group sales
5.1%
Increase in Group sales
Chief Executive’s
statement
marksandspencer.com/annualreport08 MARKS AND SPENCER GROUP PLC 5
Sir Stuart Rose
622
278
International stores
Bahrain 1
Bermuda 1
Bulgaria 1
Croatia 4
Cyprus 10
Czech Republic 10
Gibraltar 1
Greece 35
Guernsey 4
Hong Kong 8
Hungary 9
India 14
Indonesia 13
Jersey 6
Kuwait 1
Latvia 1
Lithuania 1
Malaysia 4
Malta 3
Oman 1
Philippines 14
Poland 4
Qatar 1
Republic of Ireland 17
Romania 6
Russia 12
Saudi Arabia 8
Serbia 1
Singapore 7
Slovakia 1
Slovenia 1
South Korea 17
Spain 5
Switzerland 1
Taiwan 3
Thailand 10
Turkey 34
UAE 5
Ukraine 3
Total International 278
stores
UK stores
UK stores
International
stores
Flagship stores 44
High street stores 219
Retail park stores 27
M&S outlets 33
About us
Key performance
indicators Business review Financial review Governance Financial statements
Shareholder
information
Simply Food stores 167
Simply Food
franchised stores 132
Total UK stores 622
1 store opened in Libya in April 2008