Marks & Spencer has announced plans to close 110 stores in total including 85 full stores and 25 Simply Food outlets. This is in addition to the 35 M&S stores which were closed last year it has been revealed. Today the retail giant reported a MASSIVE 9.9 percent fall in underlying pre-tax profits to £523.2 million for the year to March 31.
After over ten years of attempts that have failed each and every time to revive the high street giant, they are attempting to stop the bad spell at This much loved clothing retailer with a major overhaul that includes revamping its clothing and food ranges. They have also signed a deal to push their online partnership with Ocado.
A representative for Marks & Spencer said: “We are deep into the first phase of our transformation programme and continue to make good progress restoring the basics and fixing many of the legacy issues we face,” Rowe said. While there are green shoots, we have not been consistent in our delivery in a number of areas of the business.”
