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Marks & Spencer in final closing round, will go online

Marks & Spencer
Britain   Marks & Spencer wants to move a third of its sales online

Marks & Spencer is implementing the latest round of its store closure programme this weekend as it battles to improve its fortunes.


The latest closures are in Falkirk, Kettering, Newmarket, New Mersey Speke, Northampton, Stockton and Walsall.

In all, Marks & Spencer plans to close 100 shops by 2022, as announced in May. It says the turnaround is "vital" for its future.

Profits at Marks & Spencer fell by almost two-thirds to £176.4m last year, following a costly business overhaul.

M&S has said the vast majority of the staff working in the stores closed so far have been relocated within the business.

However, it has warned that this will not always be possible and that more redundancies are likely.

Under its plan, Marks & Spencer wants to move a third of its sales online and plans to have fewer, larger clothing and homeware stores in better locations.

July 1, 2018

 

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