M&S turnaround leads to jobs bonanza

Marks
& Spencer will create around 1,000 jobs by opening 20 new food stores.

Also
planned are two standalone home stores, due to be piloted in two locations in
2003-2004.

The
home stores will be around 70,000 sq ft, probably in out-of-town locations,
according to Roger Holmes, managing director of UK retailing.

The
planned new stores follow Marks & Spencer announcing a 30 per cent rise in
full-year profits.

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Pre-tax
profits for the 12 months to March 2002 were £646.7m, up from £494.8m the year
before and comfortably ahead of most analysts’ expectations.

By Quentin Reade