Nov
08
M&S to Axe Stores at Home and Abroad as Rowe Beats Retreat
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New CEO plans to close 30 U.K. outlets and exit 10 countries
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Cuts won’t address slide toward ‘fashion irrelevance’: analyst
Marks & Spencer Group Plc plans to close all its stores in 10 foreign countries and shutter 30 outlets at home in one of the biggest retreats in the British retailer’s 132-year history.
About a tenth of the U.K. store space dedicated to clothing and home wares will disappear over the next five years, Chief Executive Officer Steve Rowe said Tuesday. M&S will shut 53 stores outside Britain and begin consultations with 2,100 workers in countries like China, France and the Netherlands, he said…
M&S to Axe Stores at Home and Abroad as Rowe Beats Retreat
