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Marks And Spencer To Close 60 Stores Worldwide, Including 10 In China
Online shopping hits older brick-and-mortar stores (CCSS Level: Grade 8, Words: 277)
Nov 10, 2016 Style & Living
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Marks and Spencer has just announced that it will close 60 clothing and home stores over the next five years as part of the company's plans to bring M&S back to being profitable. M&S chief executive Steve Rowe said, however, that it would open 200 more food stores. He also said that the clothing and home shop closures would be on a store-by-store basis, meaning that profitable stores would likely remain.

Rowe said that the company is shutting 30 stores in the UK as part of the turnaround plan. It also plans to shut 53 of its international stores, including all 10 in China, as well as half of its stores in France and will pull out completely from Belgium, Estonia, Hungary, Lithuania, the Netherlands, Poland, Romania and Slovakia. Altogether that will mean the closure of more than a quarter of its international stores. It is thought that the closures will cost between £150m to £200m.

The problems for M&S really began over a year ago, when it became clear that profits, particularly in clothing, were falling fast. Rowe says that M&S must change as customers' shopping habits have changed, particularly with the growth in online retailing. Rowe added "This is about building a sustainable, more profitable business that's relevant for our customers in a digital shopping age." As well, M&S have to pay more for imported goods because of the fall in the value of the pound after Britain's exit from the European Union.

One business commentator noted that M&S did not have the scale, speed or fashion lines of companies like Zara to succeed in some of these markets. Of course many employees of the stores being closed will see their jobs disappear, and the company said it would start talks with these 2,100 employees before the closures begin.

According to the article, least profitable part of Marks and Spencer's business is …
Food
Clothing
Homeware
Decorations
Are more stores going to be closed domestically (at home) or internationally (overseas)?
The article does not say
Internationally
Domestically
Roughly the same
In which region of the world are most of the closures happening?
Europe
Asia
Oceania
Africa
What phrase does M&S manager, Steve Rowe, use to describe online stores?
digital marketing
online shopping
Taobao online
digital shopping
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aid

help


n,v.援助

an-nounce

give information, make something public


v.宣布/公布

an-nounced

told everyone


v.公布

ash

the powdery residue left after the burning of a substance or emitted by a volcano


n.灰

bus-i-ness

a group that supplies goods or services to buyers


n.商业

chief-ex-ec-u-tive

the most senior officer in a company


n.首席执行官

clo-sures

the act of closing something, such as stores, roads


n.关闭

com-men-ta-tor

a person who comments on events or on a text


n.评论员

com-plete

to finish, end 


v.完成

com-plet-ly

totally, entirely


adv.完全

cus-tom

made specially for a particular person


n.习俗

cus-to-mers

people who buy goods from a business


n.顾客

di-gi-tal

electronic equipment that stores data on a computer


adj.数字

em-ploy-ees

people paid to work for a company


n.雇员

fal-ling

dropping, going down


v.落下

im-por-ted

brought in from another place or country


adj.进口

in-clu-ding

containing, having as part of the whole


prep.包含

in-ter-na-tion-al

existing between two or more countries


adj.国际

mar-ket

to sell / an area of business, the place where things are sold


v.n,销路/市场

on-line

while connected to a computer


adv.线上

par-ti-cu-lar-ly

very or especially


adj.尤其    

pro-blem

something that might be harmful, needing to be solved


n.问题

prob-lems

something not right, harmful


n.问题

pro-fi-ta-ble

making money


adj.有利可图

pro-fits

the amount of money made by making or selling something


n.利润/盈利

re-le-vant

closely connected, appropriate


adj.相关

sap

the fluid that flows in a plant or tree  


n.树液

scale

the size of something


n.规模

store

to keep something for future use


v.储存

sus-tain-a-ble

able to be kept at a certain level


adj.可持续

turn-a-round

an unexpected but necessary change


n.回转

va-lue

the importance or worth of something


n.价值