Costly withdrawal for Marks & Spencer…

Publication

20 December 2016 à 14h28

Updated on 10 May 2019 à 18h07

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1 minute

Publication: 20 December 2016 à 14h28, Updated on 10 May 2019 à 18h07

Reading time: 1 minute

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Publication

20 December 2016 à 14h28

Updated on 10 May 2019 à 18h07

Reading time

1 minute

Publication: 20 December 2016 à 14h28, Updated on 10 May 2019 à 18h07

Reading time: 1 minute

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M&S, which runs 900 stores in the U.K. and 466 abroad, wants to close 53 fully-owned but unprofitable stores, including 10 in China, 7 in France and the rest in the Netherlands, Poland, Romania, Estonia, Hungary, Lithuania and Slovakia. This drastic move would generate extraordinary costs of up to €200 million. Last year, the M&S international stores run via franchises and joint ventures posted a margin of €97 million, whereas fully-owned units recorded a loss of €50 million for sales of...

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