Stakeholder engagement

At M&S, stakeholder engagement directly influences how we run our business and serve customers. We use structured, continuous dialogue with customers, colleagues, shareholders and partners to support our strategy.

Customers sit at the heart of our strategic direction. We use large-scale listening groups including Food Customer Weeks, Fashion, Home & Beauty pulse surveys and our 43,000 strong online food community, The Collective. Insights from these channels influenced commercial decisions, such as increased investment in the Remarksable Value range and the launch of new product lines like Nutrient Dense. Importantly, customer insight from our mystery shopper programme and customer contact centre is regularly reviewed at Board level, with customer reactions to new store formats also included in board papers.

Colleague engagement is crucial to operational execution and cultural transformation within the business. Initiatives such as Straight to Stuart and Live From The Floor enable ideas and operational issues to flow directly to senior leadership, supporting innovation and driving actions. The relaunch of the M&S Way created consistency across stores, leading to improved operational performance during busy trading periods such as Christmas.

For Investors, engagement reinforces our plans and strategy. Institutional shareholders have consistently emphasised the importance of continued investment in store rotation, supply chain and technology— which are our three key priorities for capital allocation in the years ahead.

Additionally, M&S ensures community, supplier and partner voices are also embedded into our strategy. Long term charity partnerships, supplier listening groups and partner surveys make sure we are able to deliver great value and high-quality products and have a positive impact on the communities we serve, while supporting ESG ambitions and international growth.

Overall, by ensuring regular engagement with different stakeholder groups, M&S receives direct feedback and insight to help grow our business which we act on. By connecting insight to Board level decisions, we strengthen trust, reduce risk and build a business which is closer to all stakeholders.