Get the app today! Download iPhone App Download Android App

Marks & Spencer Says That It Must 'Accelerate Change' To Survive

Published on May 23 2018 8:57 AM in Retail tagged: Featured Post / UK / M&S / Marks & Spencer / Steve Rowe / Closures / Paywall

Marks & Spencer Says That It Must 'Accelerate Change' To Survive

Marks & Spencer said on Wednesday it urgently had to modernise or risk fading away as it reported a second straight decline in annual profit and booked a £321 million charge for a store closure programme.

The 134-year-old M&S faces unrelenting competition from supermarkets, fashion chains like Zara, H&M and Primark, as well as online giant Amazon.

In addition, efforts to revitalise its business are being hampered by ongoing pressure on UK consumers' spending power.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email