Retailer’s Plan to Reshape Estate and Increase Online Sales

  • Marks and Spencer plans to close 17 more stores affecting 1,045 jobs
  • Part of the company’s UK store estate programme announced in November 2016
  • Total of 100 stores set to close by 2022 with one-third sales online target
  • Stores in Ashford, Barrow, Bedford, and more on the list
  • M&S aims to retain as many employees as possible

Marks and Spencer has confirmed the closure of 17 more stores as part of its plan to reshape its estate and increase online sales. The retailer aims to have one-third of its sales online by 2022. A total of 100 stores are set to close, with 1,045 jobs affected. Stores in Ashford, Barrow, Bedford, and others are on the list. M&S has already closed 30 stores and announced eight more last year.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Marks and Spencer’s store closure plans, the impact on jobs, and the company’s overall strategy. It cites specific stores affected by the closures and includes a quote from a company executive to support its claims.
Noise Level: 3
Noise Justification: The article provides relevant information about Marks and Spencer’s store closure plans and their impact on employees. It also includes a statement from the company’s director regarding the necessity of these changes for the future of the business. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Marks and Spencer’s store closures will impact the company’s financial performance and potentially affect its stock price.
Financial Rating Justification: The article discusses Marks and Spencer’s plans to close over 100 stores, which will have a direct impact on their financial performance and could influence their stock price in the financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: No extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk