Marks & Spencer staff have been awarded an £80 million bonus pot after bumper sales growth in the final quarter of the financial year, the chain has said.
About 50,000 store staff have picked up a handout of between £200 and £500 in the first such payout since 2008, with the rest of the bonus pool going to managers and head office executives.
M&S chairman Sir Stuart Rose announced the windfall as he reported same store sales up by a better-than-expected 5.1% in the 13 weeks to March 27 - a positive note for his final trading statement before new chief executive Marc Bolland arrives next month.
Thursday's sales rise marks the second quarter of growth in a row after the group posted a 0.8% hike for the previous three months, which was the first increase in two years.
M&S has had a far better financial year after seeing profits drop by 40% in the previous 12 months as the UK plunged into recession.
It said it was on track for 52-week annual profits of between £620 million to £630 million in the period to March 27, up from £604.4 million the previous year.
M&S said "self-help" measures were beginning to pay off, with total UK sales up 6.2% and online sales soaring by 48% in the quarter.
On a like-for-like basis, general merchandise sales rose by 9.1% and food sales increased by 1.8% - although the quarter's figures were boosted by the inclusion of the first day of the Christmas sale.
The chain said this lifted same store growth by around 1.3%, adding around 2.9% to general merchandise sales.
But the figures were still far higher than most City analysts had pencilled in.
( source : Press Association)
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