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Tag: stores

M&S to shut total of 100 stores by 2022

M&S to shut total of 100 stores by 2022

Business
Marks & Spencer (M&S) says it is to close a total of 100 stores by 2022 under its five-year transformation plan, placing thousands of jobs at risk. The retailer, which has already shut 21 outlets included in the figure, said it had identified a further 14 clothing and home stores to be shut in its current financial year.M&S said all 626 people affected by those proposed closures would be offered roles elsewhere before redundancy was considered.The retailer listed the 14 locations - saying its Bayswater store and Fleetwood and Newton Abbot outlets would shut their doors for the final time by the end of July.Its Clacton and London Holloway Road branches were to close by early 2019, M&S said, to coincide with new food stores opening nearby.The other sites affected are Darlingt...
Burberry to shut stores in 'unluxurious' areas

Burberry to shut stores in 'unluxurious' areas

Business
Burberry is to close stores and stop its products being sold in areas it feels are not luxurious enough, as part of a drive to take its brand even further upmarket.Shares tumbled after the change of direction was announced, just a week after the news that top designer Christopher Bailey - the man credited with creating its luxury focus - was to leave the businessafter 17 years.New chief executive Marco Gobbetti, who replaced Bailey in the top job earlier this year, said he wanted to focus on leather goods and fashion and cut sales to non-luxury stores, initially in the United States.The "re-energising" of Burberry's offering would then be rolled out to Europe, the Middle East, India and Africa, the company said.Investors were seemingly unimpressed - shying away from an investment strategy ...
Sears to close 43 more stores

Sears to close 43 more stores

Business
July 7 (UPI) -- Sears Holdings, owner and operator of Sears and Kmart, announced plans to close another 43 stores.Friday's announcement comes less than two weeks after the company announced the shuttering of 20 stores across 14 states.The retail chain closed 265 stories during the last fiscal year, and according to a blog post by CEO Eddie Lamper, more closings are likely on the way.The company says the closings are part of a strategy to become profitable. Both Sears and Kmart have seen their sales decline dramatically in recent years. Sears has lost $ 10 billion over the last six years and hasn't turned a profit since 2010."This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for...
Sears to close 47 more stores

Sears to close 47 more stores

Business
July 7 (UPI) -- Sears Holdings, owner and operator of Sears and Kmart, announced plans to close another 47 stores.Friday's announcement comes less than two weeks after the company announced the shuttering of 20 stores across 14 states.The retail chain closed 265 stories during the last fiscal year, and according to a blog post by CEO Eddie Lamper, more closings are likely on the way.The company says the closings are part of a strategy to become profitable. Both Sears and Kmart have seen their sales decline dramatically in recent years. Sears has lost $ 10 billion over the last six years and hasn't turned a profit since 2010."This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for...