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Marks & Spencer accelerates store closures

Marks & Spencer is aiming to shut 100 outlets by the end of 2020, accelerating its store closure programme by two years. 

The news comes as chairman Archie Norman and chief executive Steve Rowe prepare to reveal another slump in annual profits on Wednesday, according to The Sunday Times and Sunday Telegraph

In the 13 weeks to 29 December, total UK sales fell 2.7% to £2.7bn. 

M&S previously announced in November 2016 that it expects to shut 100 stores by 2022. Since then it has closed 43 stores. 

Drapers revealed earlier this month that M&S will cut at least 47 roles as it simplifies its clothing and home division. 

Readers' comments (1)

  • Closing stores will not grow market share and only reduces economies of scale.

    Once known for community, now seen as the opposite by many consumers. Not just ‘any kind’ of strategy?

    ‘All in’ on Ocado it is then.

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