From M&S’ £1bn-profit peak, to Marc Bolland’s £13.8m “golden hello”, Drapers looks back at the retailer’s recent financial history.
May 2008 - Marks & Spencer hits a peak, with pre-tax profits of £1.1bn - but the retailer sounds a note of caution about the future outlook.
July 2008 M&S bosses face criticism as the share price drops by 60%. Newly self-appointed executive chairman and chief executive Stuart Rose blames results on an overall downturn in the retail sector.
October 2008 M&S share price continues to plummet, with full year profit expectations cut by £30m.
November 2009 M&S posts flat interim profits for its first half of £306.7m
January 2009 450 head office jobs are cut as part of a £200m scale back in capital expenditure.
February 2010 Marc Bolland announced as M&S’s new chief executive.
November 2010 M&S chairman Sir Stuart Rose prompts confidence drop when he sells 100,000 shares.
June 2011 Bumper pay-outs hit the headlines, with Bolland receiving a £13.8m “golden hello”, while Rose receives £8.1m.
May 2012 The retailer reports a £122.6m drop in pre-tax profits - the first drop in three years.