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M&S 'appeals to all tastes'

22/05/2008

Marks & Spencer (M&S), which opened its first store and headquarters in Manchester more than a century ago, has attributed its latest profits to its wide-ranging appeal to people on different budgets.

Earlier this week, the retail giant reported a 4.3 per cent rise in annual profits to over £1 billion - the largest profit for M&S in a decade.

M&S has said it will pay out £12.8 million to store teams in recognition of their "hard work in delivering great service".

Chief executive Sir Stuart Rose told BBC Radio 4's Today programme: "What we have done is we have re-established our value credentials of our customers.

"We offer everything to everybody. We've got clothes for people and food for people who've tighter purses, and we've got things for people who want to trade up."

The M&S superstore at St Ann's Gate at the bottom of Market Street was built after the original store was wrecked in the Manchester IRA bombing of 1996. The new flagship building is one of the largest M&S stores in the world.