Irish stores weigh on Marks & Spencer
Marks & Spencer flagged difficulties at its Irish business in the first half of the year as it said sales across the retail group had fallen on poor demand for clothing and food.
After more than a decade of failed turnaround programmes, M&S is now targeting sustainable, profitable growth in three to five years by shutting less successful stores. It warned yesterday that sales were unlikely to improve soon. “Trading conditions remain challenging and the headwinds from the growth of online competition and the march of the discounters remain strong in all our markets,” it said.
The group said trading in the Republic, where it has 18 outlets, had been “difficult”.
While it didn’t specify the issues it was having in the Republic, it noted its problems were similar to Britain.