M&S staff are set to benefit from bumper payouts under its share save scheme after the retailer celebrated a bumper Christmas.
The high-street staple said that more than 9,200 employee, the majority being customer service assistants, who place a typical £150 a month into the M&S share save scheme will gain more than £10,000 when it pays out on 1 February.
This news comes after Marks & Spencer saw UK sales surge to £3.6bn in the 13 weeks to 30 December, driven by market-leading growth in food and a strong performance in womenswear.
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Speaking on the results, CEO Stuart Machin said: “Our strategy to reshape M&S for growth has enabled sustained sales momentum across food and clothing and home over the Christmas period.”
“We are determined to deliver our objective of driving 1% growth in market share in both businesses and to up the pace of our transformation: keeping a relentless focus on trusted value; accelerating our store rotation and renewal plans; doubling down on our supply chain programmes to improve availability and lower costs; and resetting our data, digital and technology strategy to unlock benefits in future years.
Recently the retailer has a enjoyed a resurgent performance on the stock market which has been bolstered by strong trading.
Back in August, the group re-joined the FTSE 100 Index top tier of shares following a four-year hiatus as its turnaround plan pays off.
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