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Marks & Spencer Information
Share Price Information for Marks & Spencer (MKS)
Share Price is delayed by 15 minutes
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Share Price:
245.80
Bid:
246.50
Ask:
246.70
Change:
-4.40 (-1.76%)
Spread:
0.20 (0.081%)
Open:
246.80
High:
249.50
Low:
243.10
Prev. Close:
250.20
Last checked at -
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Don't have an account? Click here to register.M&S names 17 further store closures
Tue, 15th Jan 2019 16:31
(Sharecast News) - Marks & Spencer on Tuesday confirmed plans to close 17 more of its stores, putting over 1,000 jobs at risk as the retailer continues downsizing as part of a turnaround plan.The high street stalwart has struggled with rising property rental costs, competition from online retailers and plummeting consumer confidence, with a 2.2% drop in like-for-like sales over the Christmas period illustrating the extent of the chain's troubles.Sacha Berendji, the M&S retail, operations and property director, said: "Proposing to close stores is never easy, for our colleagues, customers or the local community, but it is vital for the future of M&S."Before today the FTSE 100 listed retailer had closed 30 stores and earmarked a further eight for closure as part of a five year plan that will see more than 100 stores shut down as M&S moves to expand its online presence.The plan began two years ago when chief executive Steve Rowe announced a reduction in floorspace devoted to clothing as the business looked to combat ailing sales figures.The latest 17 shops proposed for closure are: Antrim (outlet), Ashford, Barrow, Bedford, Boston, Buxton, Cwmbran, Deal, Felixstowe, Huddersfield, Hull, Luton Arndale Centre, Newark, Northwich, Rotherham, Sutton Coldfield and Weston-super-Mare.1,045 staff will be affected by the closures but stores will remain open until employees have been through a consultation process.Marks & Spencer Group's shares were down 0.14% at 276.60p just before the close on Tuesday.
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