Britain’s M&S reviewing future of French stores, Retail News, ET Retail

Lynn Imbier

LONDON: British retailer Marks & Spencer stated on Sunday it was examining the foreseeable future of its French business, with new trade guidelines in area due to the fact Britain left the European Union continuing to impression products availability in shops. “In gentle of the new customs arrangements we are […]

LONDON: British retailer Marks & Spencer stated on Sunday it was examining the foreseeable future of its French business, with new trade guidelines in area due to the fact Britain left the European Union continuing to impression products availability in shops.

“In gentle of the new customs arrangements we are using decisive ways to reconfigure our European functions and have already made changes to food export into Czech Republic,” stated an M&S spokesperson.

“We operate a franchise business in France and are currently enterprise a evaluate of the model with our two partners in the marketplace.”

Earlier this yr, M&S restructured its Czech business, using out new foods from shops and introducing expanded ranges of lengthier daily life products and solutions.

M&S operates about 20 shops in France with partners SFH and Lagardere.

M&S did not remark on a Mail on Sunday report that it is anticipated to near shops in France and could even halt selling its well known sandwiches and chilled food in the region entirely.

The newspaper stated M&S could make an announcement in the future several weeks.

M&S Chairman Archie Norman has complained the retailer has struggled to get merchandise into EU associates Ireland and France due to the fact Britain left the EU’s one marketplace at the starting of the yr, owing to the massive amount of money of paperwork that was expected.

Very last month, M&S upgraded its financial gain outlook following a leap in desire for food and a surge in on line apparel gross sales indicated that its most current turnaround system was commencing to deliver.

Shares in M&S are up 37% so significantly this yr.

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