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M&S to close 14 Clothing & Home stores by 2019
23
May '18
Courtesy: Marks and Spencer
Courtesy: Marks and Spencer
Marks & Spencer (M&S), a leading British multi-national retailer, will close 14 Clothing & Home stores by 2018-19 as part of its transformative programme. The announcement is in line with the next tranche of UK stores proposed for closure or set to close as it reshapes its UK store estate in line with its target to take at least a third of sales online.

By 2022, M&S will close more than 100 stores, including 21 that have already been closed and the 14 Clothing & Home stores that are set to close soon. The acceleration of M&S's UK store estate programme is part of its wider five-year transformation plan to make M&S special again. Under the plan, M&S has the ambition to create fewer, better Clothing & Home stores. These stores will be larger, digitally enabled, better located and more inspirational for customers to shop. They will also be supported by a seamless online experience across all digital channels including mobile and social.

"We are making good progress with our plans to reshape our store estate to be more relevant to our customers and support our online growth plans. Closing stores isn't easy but it is vital for the future of M&S. Where we have closed stores, we are seeing an encouraging number of customers moving to nearby stores and enjoying shopping with us in a better environment, which is why we're continuing to transform our estate with pace," Sacha Berendji, retail, operations and property director at Marks & Spencer, said. (RR)

Fibre2Fashion News Desk – India


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