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September 9, 2026
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M&S Profits Slump On Store Closure Costs

πŸ“… | Words: 64
πŸ“‚ Categories: Business
πŸ“ Location: United Kingdom
Written By: Famzn News

Verified Author & Editorial Contributor

Marks & Spencer store frontImage copyright PA

Marks and Spencer has suffered a steep drop in annual profits, after taking a big charge to cover the cost of closing stores.


The retailer's pre-tax profits fell by 62% to Β£66.8m from Β£176.4m in 2017.

The retailer announced on Tuesday that it plans to close 100 stores by 2022, accelerating a reorganization that it says is "vital" for its future.

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