M&S to create 1,700 more jobs
Wednesday 21 May 1997
The jobs will be in new stores planned this year in Covent Garden, London and in Cribbs Causeway, Bristol, as well as in existing stores as it increases sales volumes and improves customer service. A further 300 jobs will be created at the financial services division in Chester.
Commenting as M&S reported an 11 per cent increase in pre-tax profits to pounds 1.1bn, Sir Richard Greenbury, chairman, highlighted growth in footwear, accessories and jewellery as well as overseas expansion as solid reasons for optimism. "We are no longer dependent on clothing and food. There are a wide array of opportunities to grow and to develop the underlying strength of the St Michael brand across the world."
Asked whether any policies of the new Labour government would have any impact on trading, he said: "We have prospered over the last 50 years under a range of governments. I see no reason why we can't prosper on this one." He said a national minimum wage would not affect the company as its lowest wage was pounds 5.70-pounds 6.50 an hour if benefits such as the annual bonus were taken into account.
In the UK, sales of clothing, footwear and gifts increased by 9.5 per cent. Though sales of menswear and ladies outerwear were strong, the childrenswear market has been more difficult.
In foods, sales increased by 5.5 per cent with M&S maintaining its market share and margins.
Investment column, page 25.
Geoffrey Macnab reviews American Hustle, also starring Christian Bale and Bradley Cooper
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
news Opponents claim it would stop performers such as Beyonce and Madonna appearing on TV
It takes a platoon of chefs, litres of brandy and rum, and almost 100kg of dried fruit
newsThat most ancient of crimes is on the rise, threatening farmers' livelihoods, community trust – and human health
Jennifer Lawrence: 'It should be illegal to call someone fat on TV'
Iain Duncan Smith leaves Commons food banks debate early
Paul Walker death caused by speed alone
DNA from a 50,000 year old toe shows Neanderthals were highly inbred
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber is 'retiring from music'
- 4 Iain Duncan Smith leaves Commons food banks debate early
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- < Previous
- Next >
iJobs Money & Business
£500 - £650 per day: Harrington Starr: Harrington Starr is working with a Glob...
£27000 per annum: Harrington Starr: Junior Consultant (Excel, Financial Spread...
£500 - £600 per day: Harrington Starr: .NET Quantitative Developer - Contract ...
£55000 per annum: Harrington Starr: Technical Operations Analyst (UNIX, Linux,...