Marks & Spencer to close 100 UK stores by 2022

Marks & Spencer has so far closed 21 stores in a store estate restructuring program to reduce space devoted to clothing and home it first outlined in 2016. (Reuters)
Updated 22 May 2018
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Marks & Spencer to close 100 UK stores by 2022

LONDON: British retailer Marks & Spencer said on Tuesday it plans to close over 100 stores in its home market by 2022, accelerating a program to re-shape its store estate as more sales move online.
M&S has so far closed 21 stores in a store estate restructuring program to reduce space devoted to clothing and home it first outlined in 2016.
It said it had identified a further 14 stores for closure.
M&S also said 15 fewer owned Simply Food stores would open this year as its food opening program is scaled back.


LIVE: Future Investment Initiative opens in Saudi Arabia

Updated 5 min 46 sec ago
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LIVE: Future Investment Initiative opens in Saudi Arabia

DUBAI: The three-day Future Investment Initiatives (FII), which starts today, is expected to attract thousands of delegates and see deals worth hundreds of billions of dollars.

 

 

 

The three-day event will likely see investment partnerships from Russia and China being forged, as noted by Ellen Wald, president of the Transversal Consulting think-tank and author of the recent book “Saudi Inc,” with executives still looking to do business at the Riyadh meeting despite some having pulled out.

 

 

 

Executives from the Russian Direct Investment Fund, Russia-China Investment Fund and electronics giant Samsung are listed to speak at the event, joining Saudi speakers including Energy Minister Khalid Al-Falih, Yasir Al-Rumayyan, head of the Public Investment Fund, and sports official Princess Reema bint Bandar.

 

 

“Investing in transformation,” “technology as opportunity” and “advancing human potential” are among the FII’s themes. Held at the Ritz-Carlton hotel in Riyadh, the three-day event is billed as a “blueprint for the 22nd century.”

 

 

Click for more of our coverage of the Future Investment Initiatives.