UK: M&S to close 27 stores and cut 1200 jobs
By just-style.com | 7 January 2009
UK retail giant Marks & Spencer is to close 27 stores and axe over 1,200 jobs as it seeks to cut costs after UK like-for-like sales fell 7.1% over the Christmas trading period and discounts hacked into margins.
just-style articles are only available to registered users and members.
Join now for increased access
There are various access options to choose from. All provide instant access to the latest news, insight and expert analysis.
If you're already a member, login here.
More articles related to this one
INDIA: Higher costs push S Kumars to FY profit drop
Indian fabric and apparel maker S Kumars Nationwide Ltd, one half of an investment group that has successfully bid for bankrupt US suit maker Hartmarx Corporation, has posted a 5.1% drop in full-year profit as soaring sales failed to offset higher costs.
COMMENT: Dress Barn tries Tween Brands on for size
While many specialty retailers have recently been shedding concepts, Dress Barn seems to think there's something to be gained from adding struggling fashion chain Tween Brands to its portfolio. Leonie Barrie looks at the detail of last week's merger deal - and asks what's really in it for the two companies?
RUSSIA: Fashion market eyeing growth despite tough 2009
The fashion and footwear market in Russia is forecast to fall by around 5% this year as clothing sales slump amid the financial crisis.
