https://www.express.co.uk/life-styl...encer-store-closures-full-list-stores-closing
Marks and Spencer store closures: 100 shops CLOSE as profits drop – Will yours? Full list
MARKS AND SPENCER store closures: M&S will close over 100 branches across the UK. The high street giants have released a full list of the stores expected to close. Is your local store on the list?
By Francesca Specter
PUBLISHED: 07:39, Wed, May 23, 2018 | UPDATED: 07:40, Wed, May 23, 2018
Marks and Spencer hints at further closures over online move
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1:13
Marks and Spencer will close more than 100 stores across the UK. The news comes amid reports this morning that Marks and Spencer has had a 62.1 per cent fall in pre-tax profits from 2017.
The company released a press release on Tuesday 22 May to explain the changes that will go ahead.
It reads: “M&S today announced 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.
"M&S will now close over 100 stores in total by 2022, including 21 that have already closed and the 14 stores that are announced today as proposed for closure or set to close."
Getty
Marks and Spencer store closures: Over 100 stores to close
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Marks and Spencer has already closed 21 stores since November 2016 as part of the Store Estate programme after a review of its store portfolio.
The press release continues: "Alongside relocations, conversions, downsizes and the introduction of concessions, these closures will radically reshape M&S’s Clothing & Home space."
The press release confirmed which of the Marks and Spencer stores will close.
Marks and Spencer stores to close
Bayswater Simply Food, Whiteleys Of Bayswater Queensway
Clacton, 39 Pier Avenue, Clacton On Sea
Fleetwood Outlet, Freeport Outlet Village Anchorage Road Fleetwood, FY7 6AE
Holloway Road, 422 Holloway Road
Newton Abbot Outlet, 10 Courtenay Street
British high street closures
Fri, March 23, 2018
As the Prezzo announces restaurant closures across the country. We take a look at the retail giants who have closed high street stores in recent years.
Play slideshow
Bloomberg via Getty Images
1 of 14
Prezzo, the restaurant chain, is shutting 92 branches across the UK
Getty
Marks and Spencer store closures: The full list of branches planned to shut has been published
They also provided a full list of the stores which are proposed for closure.
Darlington, 70 Northgate
East Kilbride, 1 Righead Gate
Falkirk, 59 High Street
Kettering, 45 High Street
Newmarket, 8 The Guineas
New Mersey Speke Shopping Park, Unit 4a-4b New Mersey Retail Park
Northampton, 41 Abington
Stockton, 139 The High Street
Walsall, 53 Park Street
Getty
Marks and Spencer store closures: The company aims to increase its online sales
Marks and Spencer, which aims to move “at least a third of sales online”, according to the company’s press release.
Terry Hunter, Managing Director at Astound Commerce, provided an industry comment on the closures.
“The news of the M&S store closures is yet another dagger in the heart of the British high-street. The retailer plans to move a third of its sales online, and intends to instead have fewer, larger clothing and homeware stores in better locations. If the company is going to recover from its recent sales slump, it is imperative that it has an exceptional online offering. It will now be competing more directly than ever with the likes of Amazon and Asos.
Marks and Spencer is not the only high street giant to close stores in recent months. New Look UK store closures will also take place this year, it was announced in March.
New Look has announced it will be closing 60 UK stores after a restructuring plan to make the chain profitable.
Closures will happen in store locations across the countries, from the Cardiff store in Wales to Borehamwood store in Hertfordshire.
The retail chain will also cut up to 1,000 jobs across their workforce in a bid to resolve financial issues, bosses have revealed.
https://www.independent.co.uk/news/...encer-share-price-sales-profits-a8364626.html
Marks & Spencer unveils 75 per cent dip in profits as it prepares to close 100 stores
Retailer announced a raft of closures on Tuesday in a bid to deal with problems in clothing business
The Independent Online
Sales in the retailer’s clothing and homeware division dropped by 1.9 per cent (Reuters)
Marks & Spencer has revealed profits fell 75 per cent in the last financial year as sales tumbled, particularly in its troubled clothing business.
The high street stalwart reported post-tax profits of £29.1m for the 52 weeks to 31 March, compared with £115.7m in the previous year.
Marks & Spencer will close over 100 stores by 2022
In the final quarter of last year, UK like-for-like sales dropped 1.6 per cent, while clothing and home sales dropped 3.4 per cent and total group sales fell 2.1 per cent.
For the full year, sales dropped 0.9 per cent, while clothing and home showed a decline of 1.9 per cent. International sales fell 10.2 per cent, after the retailer exited a number of foreign markets.
Shares in the group rose 6 per cent at the open of the stock market, which analysts said was partly because the company’s figures were less bleak than feared.
The company said it was facing facts about the changes it needs to make and admitted that, while online sales are growing, “our online capability is behind the best of our competitors and our website is too slow”.
The group also said it needs to be “decisive with our store estate, renewing and closing stores more quickly”. Diane Wehrle, insights director of retail consultancy Springboard, told The Independent on Tuesday that M&S was “remarkably unimaginative” in the way it currently arranges its shops, and needs to “think carefully about their customer offering and the way they present their stores”.
M&S boss Steve Rowe said: “At our half-year results in November I outlined the need for accelerated change at M&S. The first phase of our transformation plan, restoring the basics, is now well under way and the actions taken have increased the velocity of change running through our business. These changes come with short-term costs which are reflected in today’s results.
“There are a number of structural issues to address and we are taking steps towards fixing these. The new organisation will largely be in place by July and the team is now transforming our culture to make M&S a faster, lower cost, more commercial, more digital business. This is vital as we start to leverage the strength of the M&S brand and values across a family of businesses to deliver sustainable, profitable growth in three to five years.”
The company announced a raft of store closures on Tuesday, as part of its bid to address problems with its cumbersome structure. More than 100 M&S stores are set to close across the UK by 2022.
Read more
He also noted that traditional high street retailers like M&S have faced a “perfect storm” of rising costs, cash-strapped consumers and ever-increasing competitive pressure from online rivals over the past year.
“A physical presence on the high street does still make some sense in a digital world, after all it provides a convenient place for collection and returns. However, the recent store closures that have been announced across the sector tell us the current space occupied by retailers is simply unfit for purpose,” Mr Khalaf said.
“There is a vicious circle at play on the UK’s high streets too – more store closures means lower footfall, encouraging further closures.”
More about: | Marks & Spencer | share price | high street retailers
Marks and Spencer store closures: 100 shops CLOSE as profits drop – Will yours? Full list
MARKS AND SPENCER store closures: M&S will close over 100 branches across the UK. The high street giants have released a full list of the stores expected to close. Is your local store on the list?
By Francesca Specter
PUBLISHED: 07:39, Wed, May 23, 2018 | UPDATED: 07:40, Wed, May 23, 2018
Marks and Spencer hints at further closures over online move
0:05
/
1:13
- Marks and Spencer have announced they will close over 100 stores across the UK in a restructuring plan.
- The retailer has also reported a 62.1 per cent drop in pre-tax profits.
- The high street store closures will take place before 2022, a press release has confirmed. They have released a full list of those currently planned to close.
Marks and Spencer will close more than 100 stores across the UK. The news comes amid reports this morning that Marks and Spencer has had a 62.1 per cent fall in pre-tax profits from 2017.
The company released a press release on Tuesday 22 May to explain the changes that will go ahead.
It reads: “M&S today announced 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.
"M&S will now close over 100 stores in total by 2022, including 21 that have already closed and the 14 stores that are announced today as proposed for closure or set to close."
Marks and Spencer store closures: Over 100 stores to close
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Marks and Spencer store closures: UK high street favourite to CLOSE...
Marks and Spencer has already closed 21 stores since November 2016 as part of the Store Estate programme after a review of its store portfolio.
The press release continues: "Alongside relocations, conversions, downsizes and the introduction of concessions, these closures will radically reshape M&S’s Clothing & Home space."
The press release confirmed which of the Marks and Spencer stores will close.
Marks and Spencer stores to close
Bayswater Simply Food, Whiteleys Of Bayswater Queensway
Clacton, 39 Pier Avenue, Clacton On Sea
Fleetwood Outlet, Freeport Outlet Village Anchorage Road Fleetwood, FY7 6AE
Holloway Road, 422 Holloway Road
Newton Abbot Outlet, 10 Courtenay Street
British high street closures
Fri, March 23, 2018
As the Prezzo announces restaurant closures across the country. We take a look at the retail giants who have closed high street stores in recent years.
Play slideshow
Bloomberg via Getty Images
1 of 14
Prezzo, the restaurant chain, is shutting 92 branches across the UK
Marks and Spencer store closures: The full list of branches planned to shut has been published
They also provided a full list of the stores which are proposed for closure.
Darlington, 70 Northgate
East Kilbride, 1 Righead Gate
Falkirk, 59 High Street
Kettering, 45 High Street
Newmarket, 8 The Guineas
New Mersey Speke Shopping Park, Unit 4a-4b New Mersey Retail Park
Northampton, 41 Abington
Stockton, 139 The High Street
Walsall, 53 Park Street
Marks and Spencer store closures: The company aims to increase its online sales
Marks and Spencer, which aims to move “at least a third of sales online”, according to the company’s press release.
Terry Hunter, Managing Director at Astound Commerce, provided an industry comment on the closures.
“The news of the M&S store closures is yet another dagger in the heart of the British high-street. The retailer plans to move a third of its sales online, and intends to instead have fewer, larger clothing and homeware stores in better locations. If the company is going to recover from its recent sales slump, it is imperative that it has an exceptional online offering. It will now be competing more directly than ever with the likes of Amazon and Asos.
Marks and Spencer is not the only high street giant to close stores in recent months. New Look UK store closures will also take place this year, it was announced in March.
New Look has announced it will be closing 60 UK stores after a restructuring plan to make the chain profitable.
Closures will happen in store locations across the countries, from the Cardiff store in Wales to Borehamwood store in Hertfordshire.
The retail chain will also cut up to 1,000 jobs across their workforce in a bid to resolve financial issues, bosses have revealed.
https://www.independent.co.uk/news/...encer-share-price-sales-profits-a8364626.html
Marks & Spencer unveils 75 per cent dip in profits as it prepares to close 100 stores
Retailer announced a raft of closures on Tuesday in a bid to deal with problems in clothing business
- Caitlin Morrison
- @citycait
- 11 hours ago
0 comments
The Independent Online
Sales in the retailer’s clothing and homeware division dropped by 1.9 per cent (Reuters)
Marks & Spencer has revealed profits fell 75 per cent in the last financial year as sales tumbled, particularly in its troubled clothing business.
The high street stalwart reported post-tax profits of £29.1m for the 52 weeks to 31 March, compared with £115.7m in the previous year.
Marks & Spencer will close over 100 stores by 2022
In the final quarter of last year, UK like-for-like sales dropped 1.6 per cent, while clothing and home sales dropped 3.4 per cent and total group sales fell 2.1 per cent.
For the full year, sales dropped 0.9 per cent, while clothing and home showed a decline of 1.9 per cent. International sales fell 10.2 per cent, after the retailer exited a number of foreign markets.
Shares in the group rose 6 per cent at the open of the stock market, which analysts said was partly because the company’s figures were less bleak than feared.
The company said it was facing facts about the changes it needs to make and admitted that, while online sales are growing, “our online capability is behind the best of our competitors and our website is too slow”.
The group also said it needs to be “decisive with our store estate, renewing and closing stores more quickly”. Diane Wehrle, insights director of retail consultancy Springboard, told The Independent on Tuesday that M&S was “remarkably unimaginative” in the way it currently arranges its shops, and needs to “think carefully about their customer offering and the way they present their stores”.
M&S boss Steve Rowe said: “At our half-year results in November I outlined the need for accelerated change at M&S. The first phase of our transformation plan, restoring the basics, is now well under way and the actions taken have increased the velocity of change running through our business. These changes come with short-term costs which are reflected in today’s results.
“There are a number of structural issues to address and we are taking steps towards fixing these. The new organisation will largely be in place by July and the team is now transforming our culture to make M&S a faster, lower cost, more commercial, more digital business. This is vital as we start to leverage the strength of the M&S brand and values across a family of businesses to deliver sustainable, profitable growth in three to five years.”
The company announced a raft of store closures on Tuesday, as part of its bid to address problems with its cumbersome structure. More than 100 M&S stores are set to close across the UK by 2022.
Read more
- M&S: 100 stores slated to go as staff pay price for failure of bosses
- Boots replaces Marks & Spencer as women’s top brand
- Marks & Spencer admits to 12.3% gender pay gap
He also noted that traditional high street retailers like M&S have faced a “perfect storm” of rising costs, cash-strapped consumers and ever-increasing competitive pressure from online rivals over the past year.
“A physical presence on the high street does still make some sense in a digital world, after all it provides a convenient place for collection and returns. However, the recent store closures that have been announced across the sector tell us the current space occupied by retailers is simply unfit for purpose,” Mr Khalaf said.
“There is a vicious circle at play on the UK’s high streets too – more store closures means lower footfall, encouraging further closures.”
More about: | Marks & Spencer | share price | high street retailers
