ShareAction, a responsible investment NGO, is co-ordinating with three investor groups to file resolutions at Next, Marks & Spencer and JD Sports. The retail giants are being called on to address allegations of low wages within their staff and to be more transparent in sharing how many of their employees are being paid below a real Living Wage.

A total of 115 individual investors are backing the resolutions. Seven institutional investors, including Axa Investment Managers and Trust for London are co-filing a resolution at Next, while the resolution at Marks & Spencer is being backed by Scottish Widows and Friends Provident Foundation, who are also supporting the resolution at JD Sports with Cardano Group.

By putting forward motions regarding the disclosure of low pay, investors are hoping to “drive up standards across the entire sector”, ShareAction said. The resolutions will go to a vote during the companies’ upcoming respective annual general meetings. For Next, this will take place mid-May, and for Marks & Spencer and JD Sports, it will be later in summer. ‘

Employees in higher cost areas impacted by low wages

JD Sports currently meets the National Living Wage requirement of 12.21 pounds (introduced at the beginning of April 2025), yet there is no regional pay to reflect differences in more expensive areas like London.

Next pays staff over the age of 21 the National Living Wage, with some regional pay for London, though “this does not accurately reflect the difference in the cost-of-living in the area”, ShareAction said. Alternatively, while Marks & Spencer has put forth a staff pay of 12.60, a real Living Wage, it hasn’t implemented this for third-party contracted staff, such as security guards and cleaners.

In a release, ShareAction chief executive, Catherine Howarth, said: “The UK’s biggest retailers are failing to support their workers with a real Living Wage, leaving hundreds of thousands of people in the sector struggling to make ends meet. Companies whose workforce earn less than a real Living Wage are ultimately harming the vitality and growth of the UK economy, with business models that put pressure on workers, their families and the state by adding to health and welfare costs.

“The long-term orientated, responsible investors backing these resolutions are calling on companies across the retail sector, including Next, Marks & Spencers and JD Sports, for the information required to assess the business risks of low pay and the affordability and business benefits of the real Living Wage. This is a critical first step to better protect their staff and make our economy fairer and healthier.”