Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Ecommerce

Marks & Spencer closes physical location, focuses on ecommerce

Wednesday 23 May 2018 | 10:08 AM CET

Marks & Spencer has announced that it will shift its focus to online sales, aiming to make ecommerce its main sales channel. 

M&S revealed the locations of 14 stores which are to close, including in London's Bayswater and Holloway Road, with a total of 872 employees affected.

The UK retailers plans to close 100 stores in the next four years. 

Sacha Berendji, retail and property director at M&S, said: "We are making good progress with our plans to reshape our store estate to be more relevant to our customers and support our online growth plans.

"Closing stores isn't easy but it is vital for the future of M&S. Where we have closed stores, we are seeing an encouraging number of customers moving to nearby stores and enjoying shopping with us in a better environment, which is why we're continuing to transform our estate with pace."

The store closures may also be a result of poor sales performance as the announcement was made one day before the retailer is expected to unveil its annual figures. 

 advertisement
 advertisement
 advertisement
 advertisement