Marks & Spencer is investing in refrigeration equipment capable of withstanding temperatures up to 45C after fridges broke down in several stores during Britain's record-breaking June heatwave, CEO Stuart Machin told shareholders at the company's annual meeting in London on Tuesday.
Britain recorded its hottest June day on record at 37.7C, surpassing the previous June record set in 1976. The retailer struggled through nine days of extreme heat and was forced to restock ice-cream after six lines sold out, with one supplier hiring additional staff to meet demand. Rival Sainsbury's is also investing hundreds of millions of pounds in refrigeration upgrades across roughly 100 stores, as the Met Office projects peak temperatures of 45C could become plausible by mid-century. A third summer heatwave is expected to arrive this week.
Shareholders also pressed the retailer on wages. ShareAction, representing 14 institutional investors, urged M&S to match the real living wage, after an April pay rise brought hourly rates to £13.41 nationally — still short of the benchmark. Chairman Archie Norman indicated alignment may come after next year.