Marks & Spencer store staff are set to share a £92m bonus, as the retailer plans to create 10,000 new jobs over the next three years.
Stuart Rose, chief executive, said that shop floor staff will share in a £26m slice of the £92m overall bonus and that each will receive an average of £500. Last year, the overall bonus pot contained £73m. Rose said that the bonus reflects the strong performance of the business in 2006/07.
In its expansion over the next three years in terms of product areas and space, Marks & Spencer has pledged that its growth will create up to 10,000 new jobs in the UK.
The retailer’s preliminary results for the 52 weeks ending 31 March 2007, recorded a 28% increase in its annual profit.