M&S to close 5 stores in China

Marks & Spencer is due to close five of its stores in China, despite confirming debut openings in Beijing and Guangzhou.

The UK high street group said it will close five supporting stores in the greater Shanghai region by August, which it will begin opening new stores later this year.

M&S set out details of its plans Monday, first outlined last April, which will see 60 jobs cut and the total number of sites in China fall from 15 to 10.

That will be countered by those Beijing and Guangzhou openings together with growth in neighbouring Macau where a 1,000 square foot store will open at The Venetian Mall in November.

M&S also said it will also continue to invest in its existing major stores on the mainland with the “complete modernisation” of its flagship store on West Nanjing Road, Shanghai, this autumn. It will also invest in modernising its stores in Hong Kong during 2015/16.

M&S opened its first store in Hong Kong in 1988 and in China in 2008.

Online, the retailer also confirmed it launched a new dedicated kidswear store on TMall.com and a new clothing store on JD.com last month.