Cash bonus for Marks & Spencer staff

All 63,000 staff at Marks & Spencer are expected to receive a one-off bonus for the first time this year, sharing a £60m dividend.

Stuart Rose, chief executive of the high-street retailer, wants to award the bonus as a thank you to all employees, including the 55,000 shopfloor workers who he believes have been instrumental in reviving the firm’s fortunes.

The £60m will also be shared with the group’s managers and head-office staff.

Rose is finalising the details before a board meeting to be held in the next fortnight. The full payout plan is expected to be announced in May alongside year-end results.

After years of struggle, M&S has won back its position as Britain’s largest clothing retailer and begun to regain market share lost to rivals such as Next.

City analysts expect M&S to make pre-tax profits of £758m on sales of £7.9bn for the financial year that has just ended. 26744.article

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