Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Marks & Spencer slows international expansion

Marks & Spencer is putting the brakes on its plans for overseas expansion amid economic crises in Russia and China.

In 2014, M&S chief executive Marc Bolland set targets to open 250 stores overseas in three years, increasing international sales by a quarter and pushing profit up 40%. 

M&S executive director of marketing and international Patrick Bousquet-Chavanne has now told Reuters it remains committed to the countries but is rethinking the pace.

“The world has shifted, is a different place … The Syrian situation was very different from what it is today … Putin had not invaded Ukraine and China was growing at close to 9%,” he said.

“It’s reasonable in that context that you would expect a different outlook on the next three years for the company.

“We’re going to have to be much clearer in terms of when you look at the roll-out or roadmap about where to open stores.”

Marks & Spencer was also one of the British businesses that in July this year put in place a contingency plan in the event of a “Grexit” situation in the eurozone.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.