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Possible more M&S stores to close, boss warns

Marks and Spencer - Profit However, Mr. Rowe warned that more redundancies are “likely.” Since the advent of the Internet, retail businesses of all sizes have had to embrace e-commerce , i.e., online shopping. As a percentage of total retail sales, online shopping has been increasing year-after-year . M&S plans to move one-third of its total sales online. Under its plan, there will be fewer and larger homeware and clothing M&S stores. The company says that it wants to focus on bricks and mortars stores with the best locations. M&S’ profits have been declining rapidly over the last few years. ( Data Source: ) Mr. Norman said that for him, it is not the short- or medium-term that matters, but rather the long-term. He wants profitable M&S stores and healthy online sales. “For me, the results in the next two years aren’t the most important thing.

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