Marks & Spencer’s China stores risk closure
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Marks & Spencer is reportedly due to announce the closure of some of its Chinese shops when it releases its trading update next week.
There is speculation that chief executive Steve Rowe will reveal his plans to help bring the department store chain back into business when the company’s half-year results are published.
M&S currently has 10 stores in China, and according to Bloomberg some of them could be in the firing line.
The news comes just a week after speculation that M&S’ Paris flagship would also close down, as part of Rowe’s plans to move away from loss-making international operations.
The department store chain will reveal its interim results on November 8.
Questions & Answers
Q.When will Marks & Spencer officially announce its plans for the Chinese stores?
When will Marks & Spencer officially announce its plans for the Chinese stores?
Marks & Spencer is expected to announce its plans for the Chinese shops when its half-year results are published next week. The company will reveal its interim results on November 8.
Q.How many stores does M&S currently operate in China?
How many stores does M&S currently operate in China?
Marks & Spencer currently has 10 stores in China. According to Bloomberg, some of these locations could be among those facing closure as part of the company's strategic changes.
Q.Are there other international closures being considered by Marks & Spencer?
Are there other international closures being considered by Marks & Spencer?
Yes, there was speculation last week that M&S' flagship store in Paris might also close. This is believed to be part of Steve Rowe's wider strategy to move away from loss-making international operations.
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