UK retailer Marks & Spencer (M&S) has allocated £95m ($121m) to increase its retail pay offer, despite facing additional financial pressures due to recent government measures. This is the largest allocation of funds to retail pay since Stuart Machin assumed the role of CEO in 2022 and the third such raise under his leadership.

Marks & Spencer shop workers to get 5% pay rise in April - The retailer said it will spend about £95 million on pay increases, which will come at the same time as a rise in the minimum wage across the UK.

British clothing and food group Marks & Spencer said its 50,000 retail workers will get a 5% pay rise from April 1, an investment of 95 million pounds

This means we have now invested almost £300m in our pay over the past three years, well above the rate of inflation, in addition to our market leading discount and pension offer for colleagues'

From 1 April, the rate of pay for approximately 50,000 in-store customer assistants will increase from £12 an hour to £12.60 per hour, M&S said.

British clothing and food group Marks & Spencer said its 50,000 retail workers will get a 5% pay rise from April 1, an investment of 95 million pounds ($122 million).

M&S is raising pay for 50,000 shop workers in line with the UK’s minimum wage increase; In-store assistants will see a 5% pay rise to £12.60 an hour, while London staff and man