Au Revoir, Marks & Spencer: Closure Confirmed

Marks and Spencer closure confirmed
MARKS & SPENCER has confirmed last November 8, 2016 to close 30 of its UK clothing and homewares stores and all of its wholly owned international stores.


Marks and Spencer closure confirmed

Yes you've read it loud and clear.


Marks and Spencer is bidding goodbyes to their worldwide customers announced last November 8, 2016 as part of their bid for a "simpler business" according to CEO Steve Rowe, who was brought on board earlier this year, reports WWD. The 53 overseas stores in question include 10 in China, seven in France (the Champs-Élysées flagship is also expected to be on the list) and all of its stores in Belgium, the Netherlands, Poland, Estonia, Hungary, Lithuania, Romania and Slovakia.


Marks and Spencer closure confirmed


Marks and Spencer closure confirmed

The news comes as the retailer announced a 91 per cent decline in first-quarter profits. The cost of the closures is estimated to be £150 to £200 million, but in the long run it is expected to save the company £45 million in annual losses. The company revealed, however, that as a part of its five-year plan, the number of stores in total would actually increase, as the company plans to focus its attention on food and roll out 200 more M&S Food shops around the UK.


Marks and Spencer closure confirmed

Rowe, who confirmed that a consultation period would begin with 2,100 employees in the overseas locations, remained positive about the move, saying, “These are tough decisions, but vital to building a future M&S that is simpler, more relevant, multi-channel and focused on delivering sustainable returns.”

He also reassured the press that despite a weaker pound following Brexit, he does not have plans to increase pricing, instead the company will absorb the cost.


"We've obviously got currency pressures that have come onto us recently but we intend to mitigate those through better sourcing, by better volumes with our manufacturers and our intention is that we won't have to pass those price rises onto the consumer in the New Year," he told the BBC


Marks and Spencer closure confirmed


Marks and Spencer closure confirmed

Truly, Marks and Spencers would be missed especially during every occasions as this store is also my go-to store for gift baskets and awesome goody delights. And who would say no for their products?


Marks and Spencer closure confirmed

Marks and Spencer closure confirmed


I think this will be our last holiday season with Marks and Spencer, so better to visit their nearest store and haul your favorite products. You might be also eyeing for Alexa Chung's collection and some new polos and shirts for your hubby - better asked your M&S ladies for it.


Update: FOR MARKS & SPENCER PHILIPPINES fans which include moi, MARKS & SPENCER PHILIPPINES STORES ARE NOT INCLUDED.

WE CAN STILL SHOP AND BE MERRY THIS HOLIDAY SEASON!!!





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51 LOVES AND COMMENTS:

  1. Loved your blog design.. colorful .

    Rgds
    Nisha
    http://learn2livefully.com/

    ReplyDelete
  2. WAIT.... SO ALL M&S stores in the PH will close for sure? ....When's the sale? hahahha!

    CJ | From Manila with Love Blog

    ReplyDelete
    Replies
    1. There is no news (yet) IF the Philippines stores will be affected. But definitely, you might noticed some changes like focusing on M&S Food Stores.

      Delete
    2. Also - Marks and Spencer overall has more than 900 stores globally - closing 30 stores within this network is less than 4% of its total network.They will not be the only one who close their unprofitable stores. As business people, it will only be good.

      Delete
    3. M&S philippines is not included. We are franchise, the one will be closing is branches of M&S not franchise.. we are open until the day we all die hahahhaaha!

      Delete
    4. M&S philippines is not included. We are franchise store, the one will be closing is some but not all branches of M&S around the world. But Franchise store are not included. M&S philippines is open untill the day we all die hahahahhhaha!

      Delete
    5. actualy Miss Blair We or M&S philippines are also entering food industry, we already have our 1st coffee shop located in Central Square Mall BGC Taguig city. Try to visit, to try our famous freshly baked cookies,best cookies in manila! And also plenty varities of pastries perfect to have with a cup of M&S coffee.

      Delete
    6. The Philippine stores are franchises. They're not owned by M&S.

      Delete
    7. Yeah, I strongly believe that Marks & Spencer Philippines will not be affected considering the traffic flow of the customers and how the customers behave economically during shopping.. parang hindi feel ang recession sa Pinas.

      This is the similar strategy Uniqlo Global does to their branched in some parts of Europe and most in US. They are now focusing on sustainable key markets.

      Delete
  3. Oh no, this is sad. We lived in England for 3 years and would shop there. I really liked it.

    ReplyDelete
    Replies
    1. I felt sad too, Marks and Spencer is my one-stop shop for quick shopping for gifts during holidays.

      Delete
  4. A nice farewell post but inevitably all good things must come to an end. I've never been to this store myself, but I do like some of the clothes pictures above.

    ReplyDelete
    Replies
    1. Marks & Spencer is one of the first UK lifestyle brands and I love their products. I think I've going to haul their bath products.

      Delete
  5. This is really sad! I remember the Marks and Spencer shops here in Canada and was really happy when I got back to the UK and was able to shop there again!

    ReplyDelete
    Replies
    1. Better started buy your favorites from M&S!

      Delete
    2. They are only closing 30 of their total 900+ stores globally.

      Delete
  6. Wait, the article says "wholly owned" international stores to streamline operations. by analogy using franchise parlance that's like the "company owned" ones ng mga food brands. Since M&S stores here are operated by SSI, baka hindi naman magsasara :)

    ReplyDelete
    Replies
    1. Nope Marks & Spencer Philippines are not included :D

      Delete
  7. I've never heard of this store, as I'm here in the states, but it's a shame they are closing b/c it seems as though they have some pretty cute stuff. Fashion lovers better get ready for all those going out of business sales!

    ReplyDelete
  8. Ah mabuti at hindi po kasama ang M&S Stores sa Pilipinas.. wagi!!!

    ReplyDelete
    Replies
    1. Yes Dear, not included - you cans till be Merry all year.

      Delete
  9. I love M&S too.Sad they are closing. I buy a lot of theit stuff

    ReplyDelete
    Replies
    1. Hello Amrita,

      You can start hoarding for your favorite stuffs :D Anyway, only selected branches in specified countries are included.

      Delete
  10. Aww! That's heartbreaking. It looks like I would enjoy shopping there on my trip.

    ReplyDelete
    Replies
    1. Yeah a good way to save on shopping, you must plan for your shopping, list :)

      Delete
  11. M&S Philippine Stores are not included. Pls read the last part. Fyi.

    ReplyDelete
  12. I haven't been to Marks & Spencer before but I've always wanted to visit. Sucks that they're closing!

    ReplyDelete
    Replies
    1. OMG you have been missing a lot of fun! M&S Stores always have amazing items, especially during summer and holiday season. I also like their recent Alexa Chung collection :D

      Delete
  13. This is really, really sad. But well, we have to embrace changes. Wishing them the best in their next endeavor.

    ReplyDelete
    Replies
    1. M&S will downsize, a strategy that most business are doing in order to survive.

      Delete
  14. I used to shop from Marks and Spencer when I was in India few years back! But this is sad that they are closing their stores but at the end of the day, no company is ready to bear the losses!

    ReplyDelete
    Replies
    1. Don't worry because M&S Stores in India might not be affected. You can still enjoy shopping!

      Delete
  15. Oh that's sad. I live in London, we have a huge supply of M&S stores :)

    ReplyDelete
    Replies
    1. Hello Nadine,

      I guess London stores are not affected. It is the house of all M&S Stores.. only the countries specified.. and also stores in China.

      Delete
  16. M&S philippines is not included.. We are open until the day of zombieee apocalypse hahaha! seriously guys.. 0% for us to close we are franchise.

    ReplyDelete
    Replies
    1. I love the enthusiasm :) Pinoys are naturally born shopaholic.

      Delete
  17. I've never heard of this store but what a bummer for avid shoppers there!

    ReplyDelete
    Replies
    1. You never heard of Marks & Spencer??? Ohhh you BETTER visit them! They are one of the first UK high street brands.

      Delete
  18. Ughh such a love hate when your favorite stores clothes!! Sad because ughhh!! It was your fav... but yay for all the killer deals

    ReplyDelete
    Replies
    1. Sometimes downsizing is for the better. Business is not always been sweet, you have to live a tighter belt in order to survive longer.

      Delete
  19. It's a good thing that M&S Phils branches are not affected. I am always looking forward to receiving gifts from my relative bought from M&S! Hahaha!

    ReplyDelete
    Replies
    1. As long as Filipinos are shopaholic even broke, businesses here in the Philippines will flourish!

      Delete
  20. I didn't even knows this! Even though they have shops in the Netherlands. Good to know is. I know their shops. It's a pity!

    ReplyDelete
    Replies
    1. Yes its a pity, but they need it in order to survive. The brand is been there for many years.

      Delete
  21. Oh this is so sad! I live in the UK and M&S is one of my favourite stores. I love both their food and their clothes. It's great that we will get more food stores but I will just have to wait and see if the large stores near me will be affected.

    ReplyDelete
    Replies
    1. Yeah let's wait and see... but they need it in order to survive. This lifestyle brand is a legend! I love it!

      Delete
  22. 91% decline in the 1st quarter?! I cant believe it! I also can't believe they will be closing all of its stores in Belgium, the Netherlands, Poland, Estonia, Hungary, Lithuania, Romania and Slovakia.I really like m&s. They offer great quality but I must admit I don't shop there for clothes, only for food. Ree love30

    ReplyDelete
    Replies
    1. Hello Dear,

      Then you will be more benefited for their sudden restructuring! Food first :)

      Delete

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