Retailer to open 104 Simply Food outlets as high street chain speeds up turnaround plan amid rising costs
Marks & Spencer is planning to close 25% of its bigger stores selling clothing and homeware while opening more than 100 new Simply Food outlets, as it speeds up its turnaround plan in the face of a “difficult economic backdrop” and rising costs.
The retailer told investors it aims to have 180 “full-line” shops – selling its full range of food, clothing and homeware products – by early 2028, down from 247 at present, and said it would get rid of “lower productivity” outlets.
Retailer to open 104 Simply Food outlets as high street chain speeds up turnaround plan amid rising costsMarks & Spencer is planning to close 25% of its bigger stores selling clothing and homeware while opening more than 100 new Simply Food outlets, as it speeds up its turnaround plan in the face of a “difficult economic backdrop” and rising costs.The retailer told investors it aims to have 180 “full-line” shops – selling its full range of food, clothing and homeware products – by early 2028, down from 247 at present, and said it would get rid of “lower productivity” outlets. Continue reading…