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In the 2014/15 business year, these savings totalled 160 million. C21.P22In addition, M&S encourages its suppliers to use an online knowledge platform which provides advice, case studies, and toolkits for making practical changes within factories and on farms.9 These materials also highlight the business benefits of implementing those changes. These types of initiatives - making. Firstly, it has identified 100 colleagues as Carbon Champions across roles in buying, sourcing and operations to drive net zero delivery. These sessions focus on areas of the performance scorecard in which suppliers experience difficulties. The programme has delivered substantial savings through waste reduction and environmental efficiency amounting to over 600 million since 2007. Marks & Spencer Likely to Report a Robust Start of FY 2024 . The full Back to School product range is available in store and on M&S.com and available for next-day delivery or free Click & Collect to over 700 M&S locations. Click subscribe to sign up toESM: The European Supermarket Magazine. For further information, please contact: Corporate.Press@marks-and-spencer.com, Marks & Spencer Commits to Holding the Price on Its Market Leading School Uniform, Responsible Sourcing & Human Rights in Foods, Responsible Sourcing & Human Rights in Clothing & Home, Sustainability Report 2022 - Resetting Plan A to Deliver a Net Zero M&S, Results, Reports, Webcasts & Presentations, M&S Teams Up With Agrisound To Boost Pollinator Activity On British Farms, M&S has held prices on its school uniform since 2021- and confirms return of popular 20% off school uniform offer for early bird shoppers, M&S school uniform is ranked #1 by consumers for value for money by YouGov, Third-party brand partners Smiggle and Hype will be ranged in over 100 M&S stores across the UK this season to offer a one-stop-shop for Back to School. (As of 05/26/2023 07:40 PM ET) Compare Today's Range 178 183.10 50-Day Range 144.05 184.75 52-Week Range 91.56 189.10 Volume 5.69 million shs Average Volume 6.53 million shs Market Capitalization 3.54 billion P/E Ratio 1,196.67 Dividend Yield 10.14% Price Target GBX 177.25 Profile Analyst Ratings Chart Competitors Insider Trades Headlines Caring about our impact on the world today and in the Discover M&S and our different businesses, including Food and Clothing & Home. We aim to add further Food and Clothing & Home supply chain details by 2019 and details of raw materials suppliers by 2022. inspired and encouraged by our suppliers' responses so far. Last year Marks & Spencer expanded its healthy eating private label ranges, including Eat Well, Balanced For You, and Count on Us. The retailer has reset its Plan A sustainability programme, and will focus on becoming net zero across its entire supply chain and product offer by 2040. U.K. retailer aims to be net-zero in scope 3 emissions by 2040. As a business thats been around since 1884, we know how important it is to look to the future. Mejuri Becomes First Jeweler to Join Regenerative Mining Initiative, Tony's Chocolonely Unveils Future-Proof Legal Structure to Protect Its Company Mission, Finding Potential in Peers: The Importance of Pre-Competitive Partnerships, Aquaculture Industry Must Become Regenerative or Fail to Meet Demand by 2050, 2 Biotech Startups Are 3D Printing Fish to Give the Ocean a Rest. C21.P14The first element of the scorecard considers the environmental measures. C21.P27More broadly, through the suppliers self-reporting M&S gains insights on the energy, material, waste, and carbon performance measurements for those factories; suppliers risk assessment of their raw materials; suppliers employee representation, gender ratio, employee turnover, and employee survey results at those supplier sites; and the production capabilities of its suppliers. A video guide to the Notice with Nick Folland We believe that a great price shouldnt come at the expense of great quality and by continuing to protect prices, were ensuring affordable school uniform that also passes the hand-me-down test - is accessible to all families this Back-to-School season.. Suppliers undertake self-assessments of the scorecard at least once a year, which are subject to audit and assurance. Get free, timely updates from MIT SMR with new ideas, research, frameworks, and more. THREAD is partnering with AWS to streamline procurement for life sciences organisations and help them access high quality SaaS offerings. Each quarter, the Index gives insight into how confident and resilient families are feeling; what family means and why it matters in today's world; and, what issues are priorities for families right now. Marks & Spencer is working out a new strategy to capitalize the vegan food industry. Global markets live: Agilent, Intuit, Palo Alto, Kohl's, Urban Outfi.. Our group sustainability framework outlines our commitments to drive action and tackle the biggest environmental and social challenges facing our business, our planet and our society. M&S school uniform is designed to be durable and pass the hand-me-down quality test to ensure even when its outgrown, its too good to waste and can be handed down to family and friends. We developed a multi-stakeholder plan spanning customers, colleagues and suppliers to deliver on this target. Alternative product designs or formulations can create improved products. It has been my privilege to be the steward and shopkeeper of this fantastic business and extraordinary brand at such an important stage in its history. Although some of the lessons from the model factories initiated supplier changes through Plan A commitments, the larger focus was, and continues to be, demonstrating the business case for action. Reduces our carbon footprint and saves paper. Sustainability As a business thats been around since 1884, we know how important it is to look to the future. The company launched a so-called shwopping initiative (the word combines shop with swap), encouraging customers to bring in used clothes when they buy new ones, and one-day Wardrobe Clear-Out events, with clothes donated to Oxfam second-hand clothing stores. Stuart Machin, CEO; Katie Bickerstaffe, Co-CEO; and Eoin Tonge, Group CFO & Chief Strategy Officer. A Look Behind the Label hub has been set up where the retailer will share product origins and tips for customers to reduce their carbon footprint. As will always be the case with an ambitious, stretching plan, some of our goals are behind plan, but in every case we have an action plan to address the challenges and hit our commitment targets.. Case Study: Marks and SpencerSupply Chain Standards, Financial Reporting Council, https://www.frc.org.uk/Our-Work/Corporate-Governance-Reporting/Corporate-governance/Corporate-Cultureand-the-Role-of-Boards/Case-Study-Marks-and-Spencer-%E2%80%93-Supply-chain-stand.aspx. With approximately 400 suppliers producing products at over 800 sites across 44 countries, and sourcing raw materials and commodities from over 70 countries and an estimated 30,000 farms globally, M&S Foods supply chain brings great complexity. The plan supports the companys bid to become a truly sustainable retailer through key actions targeting each focus area, such as sustainable sourcing, raising 25 million for charity and halving food waste across its operations by 2025. University: University of Westminster. The campaign, which initially pushed hard-hitting messaging about the environmental impact of consumer products, will now focus on the supply process behind five everyday M&S products. Putting Purpose Into Practice: The Economics of Mutuality, Bread and Honey: Social Flourishing, Mutuality, and Economics, Mutuality and Concepts of Responsible Business, Delivering on Purpose: Business Ecosystem Orchestration in Practice, The Impact of Mutual Profit on Business Behaviour, Mutuality and the Potential of Microequity, Bel Group: Harnessing the Power of an Informal Distribution Network, Marks & Spencer: Improving Supply-Chain Sustainability, Business Strategy: The Sustainability Scorecard, Sabka Dentist: Taking Accessible Dental Care to Scale, Timberland and the Smallholder Farmers Alliance: Creating a Data-Driven Smallholder Cotton Supply Chain in Haiti, Dell: The Business Case for a Sustainable Supply Chain, Interface: Turning an Environmental Problem into a Business Opportunity, Solvay Chemical: A Tool for Identifying and Planning Sustainable Business Strategies, Z Zurich Foundation: Building the Case for Effective Insurance in Flood-Prone Areas, Divine Chocolate: Creating Sustainable Value in the Cocoa Sector through Mutual Ownership, Mondragon: Maintaining Resilience through Cooperative Strategies, JD.com: Using E-commerce to Alleviate Rural Poverty in China, Kate Spade New York: Integrating Social Purpose into Core Business Operations, Mahindra First Choice: Orchestrating the Used-Cars Ecosystem, Novo Nordisk: An Ecosystem Approach to Preventing Diabetes. Central to the strategy of M&S Food is modernising how we bring delicious, great-quality ranges to customers; with our Food store renewal programme a key driver of this. C21.P40Additionally, M&S plans to expand its Plan A initiatives to include a wider range of sustainability programmes. Customers have embraced a chance to give back. C21.P20The third element of the scorecard is lean manufacturing. Brands at M&S will continue to be online first, maximising the advantage our store network brings for seamless delivery and collection, but weve begun a number of exciting in-store trials with brands including Early Learning Centre (now in 10 stores) and SeaSalt (in 20 stores). A new logo has also been designed to run across its social channels to encourage customers to visit the hub. Steve Rowe, Outgoing CEO, shares his summary of our transformation progress so far. We are on a journey and the customer is starting to respond but we will stick to our knitting. That turnaround also embraces a multichannel approach, with M&S now calling itself a connected retailer. As an own-brand retailer, M&S is uniquely positioned to work with its supplier partners to find better ways of doing business. Marks & Spencer has pledged to cut its carbon footprint by a third by 2025 as part of its commitment to be fully net zero by 2040. C21.P29M&S views the value of the programme as extending beyond these savings. This has three main areas of focus: facilitating supplier exchange meetings, where suppliers can share their learnings; providing skills training and development opportunities for suppliers; and delivering financial benefits and improved ways of working. Caring about our impact on the world today and in the future is good business. You must sign in to post a comment.First time here? thing is a core behaviour in our business. Today we have four separate streams, including our most recently launched L7 Data Science & AI apprenticeship, all equipping our teams with the tools and skills they need to stay one step ahead of our customers. C21.P32As a result of the Sustainability Scorecard programme, M&S created value and savings across its supply chain: C21.P33 Through the introduction of vacuum packing for fresh meats, an unnamed company calculates it saved 16.3 million in 2011/12. The Family Matters Index, of participants are concerned about their family's impact on the environment, are making more effort to educate themselves about their environmental impact as a consumer, Read more in the February 2022 M&S Family Index Report here. This approach stems from the belief that suppliers may be concerned that M&Ss buying departments would use the information to negotiate on price. Sedex-Helping Drive Positive Impact on People, For more details on how M&S is successfully leveraging the scorecard mechanism to build more a sustainable supply chain, download the full case study here. Hazel Cully, Silver and BeyondFoods Sustainable Factory Programme, https://corporate.marksandspencer.com/blog/stories/silver-beyond-food-factory. The period is short enough to limit the disruption but long enough to prevent bad practice being temporarily hidden.4. TO DELIVER THIS, WE NEED OUR COLLEAGUES TO UNDERSTAND BETTER THE CARBON IMPACT OF OUR PRODUCTS AND PROCESSES AND WE NEED TO BACK OUR SUPPLIERS TO INNOVATE AND ADAPT TO THE, Welcome to our 2022 Sustainability Report, Welcome to our latest sustainability report, which updates you on the progress we are making to deliver our ambition of sustainable, profitable growth and long- term value creation for all stakeholders. These insights allow M&S to better select and interact with its suppliers for product innovation and other improvements in its products. We believe that wider sustainability concerns are are here to stay, resulting in opportunities for our brand to enter new markets. She is accompanied by Sapna Sood, one of our NEDs with senior level experience at The Adecco Group, who also has an in-depth knowledge of running complex supply chains. I'd also like to thank our long-standing external sustainability adviser, Jonathon Porritt, who has played a vital role as a critical friend over the duration of our Plan A programme. In the July issue of C21.P4This collaboration can yield a range of benefits for M&S. All rights reserved. Thirdly, it will launch a new online Green Network where staff can share environmental ideas, inspiration, and innovation. Marks & Spencer Group plc published this content on 07 June 2022 and is solely responsible for the information contained therein. Carnyx Group Ltd 2022 | The Drum is a Registered Trademark and property of Carnyx Group Limited. We need to transform how we make, move and sell our products to customers and fundamentally change the future shape of our business. Not consenting or withdrawing consent, may adversely affect certain features and functions. To secure awareness and engagement on the impacts being managed with these policies and audits, we trained all our support centre colleagues on the "People Behind the Product". To deliver this, we need our colleagues to better understand the carbon impact of our products and processes, we need to back our suppliers to innovate and adapt to the changing environment and we must work together to help customers enjoy lower carbon lives., TagsMarks and Spencer net zero sustainability sustainable fashion. According to the case study, This global nature of their business means M&S and their supply chain face a number of sustainability challenges. C21.P15M&S has identified waste as a specific issue, both in production and in packaging. Secondly, the retailer is developing a programme of learning to grow carbon literacy and equip its colleagues with the understanding to identify carbon-related risks and opportunities. However, once a supplier has achieved silver status across all three frameworks- environmental, ethical, and lean manufacturing- M&S can rest assured their products are being made in a more sustainable manner. Our Plan A Commitments 20102015, corporate.marksandspencer.com, March 2010, https://corporate.marksandspencer.com/plan-a/85488c3c608e4f468d4a403f4ebbd628. In the July issue of Procurement magazine,we saw how post-pandemic, Marks and Spencer (M&S)pursued new procurement strategies and supplier partnerships to emerge stronger than ever. The first 10 years of Plan A have given us the confidence to embrace a sustainable future. C21.P39Looking ahead, M&S aims to source 100 per cent of products from at least Silver-level suppliers by 2020. M&S produced its sustainability report with its Internal Audit team and Ernst & Young. -, Ethical trade and human rights in the supply chain, WE NEED TO BACK OUR SUPPLIERS TO INNOVATE AND ADAPT TO THE, Marks & Spencers tenders GBP228.1 million loan notes, Marks & Spencer to Buy Back GBP219.4 Million of Bonds due 2025, 2026, RBC Raises Marks & Spencer PT, Keeps Sector Perform Rating, programme to help our farmers become more resilient to the biggest environmental challenges, UK shoppers boost spending despite inflation's bite, Germany enters recession; UK energy price cap lowered. Watch a short summary of the changes weve made during the first phase of our transformation. 0907 GMT - Marks & Spencer is expected to report a positive start to FY 2024 given encouraging read across the sector, Shore Capital analysts Bradley Hughes and Clive Black say in a note ahead of the group's update on June 14. Distributed by Public, unedited and unaltered, on 07 June 2022 07:51:03 UTC. During the year, we played our part in supporting our supplier partners and advocating for greater support for the most vulnerable people in our supply chains. Last week, the retailer launched Plan A 2025, which contains the company's sustainability aims for the next eight years, including the goal of making Marks & Spencer a zero-waste business. To consistently deliver great products and services to our customers, we need to be forward thinking and data driven. We welcome any pay rise, but we would encourage M&S to accredit to the living wage scheme and to use that benchmark instead of creating their own. Achieving even a silver status is a long (it takes an average of two years to go from bronze to silver) and difficult process that requires suppliers to make significant changes that must drive genuine positive impacts to how they work. The campaign revamp toward positive messaging was informed by consumer research that said customers feel climate action is overwhelming. In 2021, we launched our quarterly Family Matters Index, designed to help us to understand the priorities, challenges and ambitions of families across the UK and how they change over time. This issue focuses on emerging technologies, organizational structure, innovation, and employee well-being. Course: Business Decision Making (5BUSS001W ) 42 Documents. Marks and Spencer has demonstrated a strong business case for sustainability, with 185m in net benefits since 1997 available for reinvestment. 30 September 2021. Among the report highlights: Marks and Spencer has a convincing business case for sustainability. Big Idea: Leading Sustainable Organizations, Artificial Intelligence and Business Strategy, The key lessons from the Plan A business case. C21.P2Founded in 1884, M&S is now a public limited company with over a thousand stores across the world, 852 of which are located in the United Kingdom.

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