With pre-tax profits under pressure despite growing revenues, Marks and Spencer is moving ahead with its plans to shutter a further 24 of its larger UK stores. The retailer has assured its employees at affected locations that it will endeavour to retain them via transfer to nearby stores.
The business is, however, forging ahead with the opening of a further 80 Simply Food stores over the coming year. For the six months to September 30th total revenue came in at £5.12 billion representing an overall like-for-like increase of 2 per cent.
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