With the rise of e-commerce, many retailers are underestimating the role of their bricks and mortar estates. Indeed, Marks & Spencer chief executive Marc Bolland recently said that "online has replaced Marble Arch as our flagship store" - a bold claim that others would be foolish to take to heart as the way forward. The store still holds significant value for retailers. The issue is
Stalwart British food and clothing retailer Marks & Spencer outlined plans to expand its international presence as it reported a 6.8 percent rise in half-year net profit on Tuesday.
LONDON -- U.K. retailer Marks & Spencer Group said Tuesday that its fiscal first-half net profit rose 16% to 261.2 million pounds ($421.6 million) as revenue grew 5.4% to 4.57 billion pounds. Adjusted pretax profit at the group rose 17% to 348.6 million pounds and was in line with the 347 million pounds consensus forecast. Marks & Spencer said comparable U.K. sales rose 4.4% from a year earlier. CEO Marc Bolland, who joined the company earlier this year, said his focus over the next three years will be on growing the core U.K. business and that capital spending over