Marks & Spencer To Close 67 Stores While Opening 104 Food Stores Over Next 5 Years

RTTNews | 766 days ago
Stocktwits
Marks & Spencer To Close 67 Stores While Opening 104 Food Stores Over Next 5 Years

(RTTNews) - Marks & Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) said Wednesday it will invest 200 million British pounds across the C&H and Food divisions over the next few years while reshaping for growth and value creation, according to an investor presentation made by Chief Executive Stuart Machin and Co-Chief Executive Katie Bickerstaffe.

The company is also looking to build towards about 400 million pounds in underlying cost savings from overheads.

The retailer will close 67 lower productivity full line stores, while opening 104 more high productivity, high quality Food space over the next five years, but aiming for three years.

The company is also looking to more than double international operating profit by fiscal 2028, with India revenue CAGR target of 20% and strengthening markets in Indonesia, Middle East and Asia.

Tags: MAKSF.PK MAKSY.PK MKS.L
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M&S Stock Up On Higher FY24 Results, Dividend, Outlook

M&S Stock Up On Higher FY24 Results, Dividend, Outlook

Shares of Marks and Spencer Group Plc or M&S were gaining more than 7 percent in the morning trading in London after the retail major reported Wednesday significantly higher profit and sales in its fiscal 2024. The company also announced a dividend, and said it is confident to make further progress in 2025 and beyond.
RTTNews | 178 days ago
Marks And Spencer Appoints Jeremy Townsend As Interim CFO

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Marks and Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) announced Friday that Jeremy Townsend is joining the business as Interim Chief Financial Officer. Jeremy joins on Monday, on November 22, and will report to Chief Executive Officer Stuart Machin.
RTTNews | 729 days ago
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RTTNews | 1 day ago
U.S. Dollar Strengthens After Strong Retail Sales Data

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RTTNews | 1 day ago
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