M&S speeds up shutdown of clothing and scales back Simply Food - I Newz360

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Wednesday, November 8, 2017

M&S speeds up shutdown of clothing and scales back Simply Food

Cost cutting drive moves up a gear as inflation hits profit margins and online competition intensifies

Marks & Spencer is speeding up plans to close underperforming clothing departments and slamming the brakes on expansion of its Simply Food chain as the high street giant fights for its future on the high street.

“We have made good progress in remedying the immediate and burning issues at M&S,” said chief executive Steve Rowe.

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from The Guardian http://ift.tt/2znVULG

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