Marks and Spencer has issued a buying and selling replace and re-affirmed it is going to be closing 67 shops in a serious shake-up of branches over the subsequent 5 years.
M&S additionally introduced it is going to be opening 104 new meals shops. The corporate has informed buyers it is going to velocity up its turnaround within the face of a troublesome backdrop. The numbers had been initially revealed final yr - and have been confirmed at this time.
There is no indication what shops will likely be closing, or places for brand spanking new openings.
On the time, Steve Rowe, Chief Government commented: "Given the historical past of M&S we have been clear that we cannot overclaim our progress.
"Unpacking the numbers is not a linear train and we have known as out the Covid bounce again tailwinds, in addition to the headwinds from the pandemic, provide chain and Brexit, a few of which can proceed into subsequent yr.
"However ,because of the onerous work of our colleagues, it's clear that underlying efficiency is enhancing, with our primary companies making essential beneficial properties in market share and buyer notion. The onerous yards of driving long run change are starting to be borne out in our efficiency."
M&S stated: "On the year-end we set out our purpose of attaining a modernised full line property of c.180 shops via retailer rotation, reflecting the accelerated channel shift publish pandemic.
"Rotation means closing not less than 110 places and relocating to both a brand new full line or food-only retailer and in lots of circumstances consolidating a number of shops into one."
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