Marks & Spencer stores in Merton, Birmingham, Oadby and Sevenoaks are among the sites most likely to close as part of the retailer’s cull of 60 clothing and homeware stores, according to location specialist CACI.
The company conducted an analysis of Marks & Spencer’s portfolio based on the available spend in each store’s catchment areas and the health of the local retail market.
Clothing, Furniture and Homeware Comparison Goods Spend (Annual Spend)
Centre Health Band
|Merton High Street||£4,975,139||D|
|Birmingham - Longbridge||£5,024,938||E|
|Leicester - Oadby||£5,890,705||E|
|Richmond - Kew Retail Park||£9,680,549||E|
|Pudsey - Owlcotes Centre||£9,924,488||E|
|Hayle - West Cornwall Shopping Park||£11,032,795||C|
|Milton Keynes - Kingston Centre Retail Park||£12,646,635||E|
|Milton Keynes - MK1 Shopping Park||£12,727,736||E|
Paul Langston, consulting partner at CACI, said: “The closures of the M&S stores across the UK will naturally be a strategic decision based on current performance and market potential.
“CACI estimate that closing stores in the 60 smallest centres will only reduce the available spend in M&S catchments by 4%. Given the reduction in costs this seems a wise move by M&S.”
While the decision may be an astute move by Marks & Spencer, Langston warned that the closures could have a serious knock-on effect.
“In some locations they could be the final nail in the coffin for the centres in which the stores reside, as the health of the retail spending in these locations continues to dwindle,” he said.