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Marks & Spencer reveal future plans for Irish stores amid closure notice

Marks and Spencer have revealed their plans for the future of their Irish stores, amid plans for the supermarket chain to downsize.

According to the Irish Daily Mail, the department store is “under pressure” with focus now going to online shopping, and at least 20 stores will close, with rumours that an overall of 70 stores could close in the next five years.

According to TheJournal.ie, the company’s half-year results show that its pre-tax profit dropped by 88.4% to £25.1 million (€28.2 million).

Steve Rowe, M&S CEO, said: “We have now completed a forensic review of our estate both in the UK and in our international markets. Over the next five years we will transform our UK estate with circa 60 fewer Clothing & Home stores, whilst continuing to increase the number of our Simply Food stores.

“Internationally, we propose to cease trading in 10 loss making owned markets, but intend to continue to develop our presence through our strong franchise partners. 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.”

Meanwhile, Alison Grainger, head of M&S in Ireland, said the retailer, “will continue to operate its profitable owned business in the Republic of Ireland, where there is strong brand awareness, an established store estate and loyal customer base”.

“Customers can continue to shop with us at our 17 Irish stores and via our Irish website,” she added.

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