Annual Report 2022

At a glance

M&S is a leading British retailer, with a unique heritage and strong brand values. We operate as a family of businesses, selling high-quality, great-value, own-brand products and services, alongside a carefully selected range of third-party brands.

We do this through a network of 1,487 stores and 98 websites globally, and together, across our stores, support centres, warehouses and supply chain, our 65,000 colleagues serve over 30 million customers each year.

Overview

£10.9bn

Group revenue

19/20: +6.9%

£391.7m

Group profit before tax

19/20: +482.9%

£522.9m

Group profit before tax and adjusting items

19/20: +29.7%

21.7p

Adjusted earnings per share

^{19/20: + 29.9%}

Chairman & Leadership Team

Our Chairman, Archie Norman, shares an overview of the performance of M&S in 2021/22.

Watch our film

Steve Rowe, Outgoing CEO, shares his summary of our transformation progress so far.

Watch our film

Stuart Machin, CEO; Katie Bickerstaffe, Co-CEO; and Eoin Tonge, Group CFO & Chief Strategy Officer, reflect on M&S’ position for future growth.

Watch our film

Fixing the basics

Watch a short summary of the changes we’ve made during the first phase of our transformation.

Watch our film

Shaping the Future

Boosting our digital & data skills

To consistently deliver great products and services to our customers, we need to be forward thinking and data driven. To support this aim over 1,000 colleagues from across the business have been upskilled through our data skills pathway, which we launched in 2018 with retail’s first ever data academy in partnership with Decoded. Today we have four separate streams, including our most recently launched L7 Data Science & AI apprenticeship, all equipping our teams with the tools and skills they need to stay one step ahead of our customers.

New Partnerships

This March, M&S and Costa Coffee launched an exciting partnership to bring together two of the nation’s favourite high street brands. A range of around 30 delicious M&S Food classics, including sandwiches, children’s food and products from our Plant Kitchen and Made Without ranges, are now available in c.2,500 Costa Coffee stores and Drive-Thru lanes across the UK. The collaboration brings M&S’ delicious Food-on-the-move to the nation’s largest chain of coffee shops, taking our trusted value offer to a wider audience. So far, customers have reacted brilliantly to the tie-in, with sales performing strongly.

Bringing back the Great British brands

In March 2020 we launched our “Brands at M&S” platform, and today we sell over 40 complementary and curated brands on M&S.com. From Sosander to Smiggle, we operate a range of models, including exclusive collaborations and brands we own, like Jaeger, or have a minority stake in, like Nobody’s Child. During the year, brands represented c.3.5% of our online sales and were shopped by over a million customers. “Brands at M&S” will continue to be online first, maximising the advantage our store network brings for seamless delivery and collection, but we’ve begun a number of exciting in-store trials with brands including Early Learning Centre (now in 10 stores) and SeaSalt (in 20 stores).

M&S Food Renewal

Central to the strategy of M&S Food is modernising how we bring delicious, great-quality ranges to customers; with our Food store renewal programme a key driver of this. The renewal programme takes existing M&S stores and invests in them so that they offer the efficiency of a supermarket and the ‘soul’ of a fresh food market, showcasing the quality, value and freshness of its ranges.M&S has renewed 40 stores so far across the UK, delivering a bigger, better and fresher experience for customers across Food, with more in the pipeline for the year ahead.

Can I App it? Yes you can!

To promote the benefits of the M&S app and encourage more customers to download and start using it, we ran a two week app-focused campaign in March, including our first ever Sparks TV advert. As more customers turn to shopping with us digitally, we’ve been building our quick and easy digital shopping experiences – such as scan & shop and digital click & collect – which, alongside our Sparks rewards scheme, are all hosted in the M&S app. The result of the campaign was over half a million app downloads across March and monthly active app users reaching new levels.

2022 DOWNLOADS

Downloads

Section Downloads

Task Force on Climate-Related Financial Disclosure Report

(541KB)

Annual Report - iXBRL.zip

(32.4MB)

Annual Report - iXBRL.html

(65MB)

Our Digital AGM

We have learnt in recent years that digital meetings are more engaging, more democratic, and allow us to communicate and hear from more of our shareholders. For this reason, M&S will once again be holding a fully digitally-enabled AGM for 2022.

Please see our Digital AGM page for:

A video guide to the Notice with Nick Folland
An introduction from the new leadership team
Further information about the day

VISIT OUR DIGITAL AGM PAGE

Go digital

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in time for next year’s report. It’s much less fuss, much more interactive and you’ll be helping M&S to reduce its impact on our environment.

Access to more detailed and interactive content
The money saved on printing and postage will help lower our costs
Reduces our carbon footprint and saves paper

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