Guidance for financial year 2010/11:
• Gross margin is expected to be broadly level with last year.
• Operating costs before bonus are expected to increase by 4% to 5%, as a result of space growth, increased depreciation and cost inflation.
• The planned opening of new footage will add around 2% to total space, representing a c. 1.5% increase in general merchandise and c. 2.5% increase in food footage, on a weighted average basis. Total square footage at 3 April 2010 was around 15.3m square feet.
• Group capital expenditure for 2010/11 is expected to be in the range of £500-550m.
Marks & Spencer Group Plc
marketing@alchempro.com
