Marks & Spencer is one of the most famous names in UK retail, but it has its roots in humble beginnings. Michael Marks and Tom Spencer opened the retailer’s first store in Leeds in 1894, and it has since grown into one of the biggest clothing and food retailers in the UK. Retail Week provides news, analysis, features and opinion about Marks & Spencer and the fashion and grocery sectors.
The cyber-attack on Marks & Spencer and subsequent ecommerce website blackout cost fashion partner Sosandar £800,000 in revenue.
C-store specialist the Co-op has backed the controversial government plans to increase business rates for supermarkets and department stores, saying it will “support local shops”.
Marks & Spencer is to sell its clothing in Australia after striking a deal with one of the country’s department store businesses.
The fashion retailer says that lower revenue through M&S and a decision to halt new store openings means they are taking a “prudent view” and cutting sales expectations for this year by £2.6m.
Marks & Spencer is providing £1m of funding to innovations that will help it meet its ambition of becoming net zero by 2040.
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