The leading British multinational retailer, Marks & Spencer (M&S) is planning to close down 14 Clothing and Home Stores as a part of its transformative programme by the end of next year. The retailer by 2022 will close more than 100 stores including the closure of 21 stores earlier and 14 which will close soon.
The announcement is in line with the next tranche of UK stores proposed for closure with a target to reshape its UK store estate in line and to take at least a third of sales online.
Sacha Berendji, retail, operations and property director at Marks & Spencer said, “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.”
M&S’s UK store estate programme is a part of M&S’s wider five-year transformation plan to make M&S special again. Under this 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.
– Apparel and Textile News, Apparel Talk, Indian Apparel
