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Marks & Spencer opening hours. Marks & Spencer is a store brand conducting business in 547 towns. It serves the market with 1158 shops. The largest number of its stores, 109, can be found in London.
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- FORGING A RESHAPED M&S
- Relaunched Sparks loyalty scheme and M&S Bank customer offer
- 2. A RESHAPED M&S EMERGING FROM THE PANDEMIC PERIOD
- Capital Allocation to prioritise the transformation
- 52 weeks ended
- Items that may be reclassified subsequently to profit or loss
- £m £m Assets Non-current assets
- Non-current liabilities
- Equity
- Alternative performance measures
- Critical accounting judgements Adjusting items
- Assessment of control
- Determining the lease term
- Determining whether forecast purchases are highly probable
- Useful lives and residual values of property, plant and equipment and intangibles
- Impairment of property, plant and equipment and intangibles
- Post-retirement benefits
- 2 Segmental Information
- 6 Earnings per share
- Impairment of property, plant and equipment and right-of-use assets
- B. Other material contracts
- Liabilities from financing activities
- Liabilities from financing activities
- Glossary
Our results for the year bear the impact of the pandemic spanning the beginning of the first national lockdown through to near to the end of the third lockdown in the UK. However, they also reflect an acceleration of the transformation which enabled the business to deliver a resilient performance. In the first section of this statement, we explai...
We relaunched the Sparks loyalty scheme in July shifting from a points-based plan which was delivered through a physical card, to a more customer friendly digital experience. Since relaunch total membership has grown to over 10m customers. The new Sparks operates on the M&S app and enables M&S to create a more personalised relationship with member...
Over the past three years the objective of the transformation has been to restore the business to sustainable growth. We have substantially reduced promotions and shifted to trusted value to broaden the appeal of our ranges, invested in online, data and digital capability, established the Ocado Retail joint venture and also tackled the legacy store...
The priority is to fund investment in the transformation and to rebuild balance sheet metrics towards levels consistent with investment grade. Our approach will prioritise building omni-channel capability, including investment in the supply chain and maintenance of the changing estate, with an expectation of capital investment recovering to pre-Cov...
Revenue Operating profit before adjusting items Operating margin
Foreign currency translation differences movements recognised in other comprehensive income reclassified and reported in profit or loss Cash flow hedges fair value movements recognised in other comprehensive income reclassified and reported in profit or loss Tax credit/(charge) on cash flow hedges Other comprehensive (expense)/income for the ye...
Intangible assets Property, plant and equipment Investment property Investments in joint ventures and associates Other financial assets Retirement benefit asset Trade and other receivables Derivative financial instruments
Retirement benefit deficit Trade and other payables Partnership liability to the Marks & Spencer UK Pension Borrowings Scheme and other financial liabilities Derivative financial instruments Provisions Deferred tax liabilities
Issued share capital Share premium account Capital redemption reserve Hedging reserve Cost of hedging reserve Other reserve Foreign exchange reserve Retained earnings
In reporting financial information, the Group presents alternative performance measures (APMs), which are not defined or specified under the requirements of IFRS. The Group believes that these APMs, which are not considered to be a substitute for, or superior to, IFRS measures, provide stakeholders with additional helpful information on the perfo...
The directors believe that the adjusted profit and earnings per share measures provide additional useful information to shareholders on the performance of the business. These measures are consistent with how business performance is measured internally by the Board and Executive Committee. The profit before tax and adjusting items measure is not a r...
The directors have assessed that the Group has significant influence over Ocado Retail Limited and has therefore accounted for the investment as an associate (see note 17). This assessment is based on the current rights held by the respective shareholders and requires judgement in assessing these rights. These rights include determinative rights cu...
The Group determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease if it is reasonably certain not to be exercised. The Group has several lease contracts for land and b...
The Group is exposed to foreign currency risk, most significantly to the US dollar as a result of sourcing Clothing & Home products from Asia which are paid for predominantly in US dollars. The Group hedges these exposures using forward foreign exchange contracts and hedge accounting is applied when the requirements of IFRS 9 are met, which include...
Depreciation and amortisation are provided to write down the cost of property, plant and equipment and certain intangibles to their estimated residual values over their estimated useful lives, as set out above. The selection of the residual values and useful lives gives rise to estimation uncertainty, especially in the context of changing economic ...
Property, plant and equipment and computer software intangibles are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. Goodwill and indefinite life brands are reviewed for impairment on an annual basis. When a review for impairment is conducted, the recoverable amount is determine...
The determination of pension net interest income and the defined benefit obligation of the Group’s defined benefit pension schemes depends on the selection of certain assumptions which include the discount rate, inflation rate and mortality rates. Differences arising from actual experiences or future changes in assumptions will be reflected in subs...
IFRS 8 Operating Segments requires operating segments to be identified on the basis of internal reporting on components of the Group that are regularly reviewed by the chief operating decision-maker to allocate resources to the segments and to assess their performance. The chief operating decision-maker has been identified as the Executive Committe...
The calculation of earnings per ordinary share is based on earnings after tax and the weighted average number of ordinary shares in issue during the year. The adjusted earnings per share figures have also been calculated based on earnings before adjusting items that are significant in nature and/or quantum and are considered to be distortive (see n...
For impairment testing purposes, the Group has determined that each store is a separate CGU, with the exception of Outlets stores, which are considered together as one CGU. Click & Collect sales are included in the cash flows of the relevant CGU. Each CGU is tested for impairment at the balance sheet date if any indicators of impairment have been...
In the event of termination of our trading arrangements with certain warehouse operators, the Group has a number of options and commitments to purchase some property, plant and equipment, at values ranging from historical net book value to market value, which are currently owned and operated by the warehouse operators on the Group’s behalf. These o...
Less: Cashflows related to interest and derivative instruments
Less: Cashflows related to interest and derivative instruments
The Group tracks a number of alternative performance measures in managing its business, which are not defined or specified under the requirements of IFRS because they exclude amounts that are included in, or include amounts that are excluded from, the most directly comparable measure calculated and presented in accordance with IFRS, or are calculat...
In 2021, we reset Plan A with a singular focus on becoming a net zero business across our entire end-to-end supply chain. We operate a family of businesses, selling high-quality, great-value own-brand products in the UK and internationally.
We provide a range of financial services including credit cards, savings and insurance. GO TO M&S BANK. Read More. Catch up on our latest blogs. Read More. M&S is a leading British retailer bringing quality, great value food, clothing and homeware to millions of customers around the world.
Dec 31, 2020 · Marks and Spencer New Year opening times. 31 December - normal opening hours - most stores will close by 7pm (food hall/click and collect only) 1 January - closed
