Sketch: Marks & Spencer reveals the trick up its sleeve "Since September we have been firmly in listen mode," said Earl, who has read through the transcripts at previous M&S annual meetings to help shape the overhaul of the company's lacklustre clothing business. M&S shareholders are not used to such attention. With the high street retailer pledging to listen to the past complaints of shareholders, the audience of 1,100 at Wembley Stadium was stunned into something of a silence. The M&S meeting at the home of football was expected to be a fiery one, given the fall in the company's sales and profits. But, perhaps aided by the blistering weather, it all became rather serene for chairman Robert Swannell and chief executive Marc Bolland. Only 12 questions were asked from the floor - less than half last year's number - and one of those was the Local Authority Pension Fund Forum (LAPPF), normally one of the most aggressive shareholder representative groups, praising the company's corporate governance and strategy. There were some complaints, however. One shareholder described the quality of the company's in-store lavatories as "lower than average," while Keith Wright said the in-store directions to collection points for online orders were not clear. Another shareholder likened Bolland to Captain Peacock of Are You Being Served? because the retailer's shops are understaffed. Some investors remain unconvinced by Bolland's plan to reverse the decline in clothing sales. John Farmer, an AGM regular, said he was sick of hearing the excuses about the underperformance of clothing "year after year," while Jeffrey Judelson said: "Over two years wars are won and lost, so just how long are we supposed to wait until we see results?" John Dixon, the head of the general merchandise business, which is primarily clothing, tried to reassure investors by stating that an "enormous amount of time" had been spent with customers and shareholders studying the M&S clothing range. He said the company was now "crystal clear" about what its core customer wanted. As a reminder, he explained that 55pc of M&S sales come from customers over 55 years old, and 75pc from those above 45. Bolland, who was described last year as the "Bob Diamond of retail," escaped heavy criticism over his pay, which was down by a third because of the slide in profits. But 8pc of shareholders still felt moved to vote against the remuneration report and there was also concern about M&S's overseas drive. Was it really necessary to take the board to Istanbul for two days? Mr Judelson asked. Swannell, who tried to relate to shareholders with his own stories about shopping with M&S, said that it was important to show the company's franchise partners overseas that it "really means business." However, he said the company had noted Tesco's failure in the US and plans to "pause and reflect" before deciding whether to press on with more expansion in China. With that, Swannell brought the meeting to a close. "We promise to listen to your views and respond," he told investors. The audience then headed to the Bobby Moore Suite for lunch, where M&S again showed it was listening. This year, lunch was extended to two hours after complaints in 2012 that it had been too short.