M&S to close one in four bigger stores selling clothing and homeware

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.

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​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…