Investment Case
- What makes M&S unique is the lengths we go to in innovating, designing, developing, and sourcing our products.
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We make change happen focusing on execution and performance-driven outcomes.
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By delivering value for customers, we deliver value for our shareholders.
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We are rigorous in maximising return ​on investment.
Our five year financial ambition to FY28
Sales
Sales
Food market share​ +1%​
C&H market share​ +1%
Margins
Margins
Food operating margin​ >4%​
C&H operating margin​ >10%
Costs
Costs
Structural​ reduction of​ c.£400m
Returns
Returns
Disciplined​ capital allocation framework and clear hurdle rates
Our Food ambition
TO BUILD A REMARKABLE FOOD BUSINESS, PROTECTING THE MAGIC AND MODERNISING THE REST.
Delicious, great quality M&S food, available where, when and how you want it.
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Leveraging exceptional products and a ​trusted brand
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Driving profitable growth across categories ​and channels
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Improving operating margins through fixing our backbone
Our Clothing & Home ambition
TO BECOME THE LEADING OMNI-CHANNEL RETAILER IN THE UK.
An unbeatable mix of style, quality and value, available when and where you want it.
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Leveraging exceptional products and a ​trusted brand
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Driving profitable growth across categories
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Improving operating margins
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Growing sales across both channels