Graduates working at M&S get bonus - graduate jobs

Graduates working for Marks & Spencer staff have benefited from an £80 million bonus pot awarded to staff after bumper sales growth.

The chain announced a payout of between £200 and £500 for 50,000 store staff after a sales boost in the final quarter of the financial year.

In the first such payout since the recession began, retail graduates, managers and head office executives will also benefit.

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.

The latest 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.