- Title: Parisians disappointed over M&S store closures
- Date: 8th November 2016
- Summary: PARIS, FRANCE (NOVEMBER 8, 2016) (REUTERS) EXTERIOR OF MARKS & SPENCER FOOD STORE ON PARIS' CHAMPS ELYSEES AVENUE SIGN FOR MARKS & SPENCER SIGN FOR NEW COLLECTION ON STORE WINDOW EMPLOYEE TRANSPORTING STOCK FROM STORE / PEDESTRIANS ON CHAMPS ELYSEES AVENUE SHOPPERS IN STORE (SOUNDBITE) (French) 24-YEAR-OLD STUDENT, DIANE SICRE, SAYING: "I saw an article today on Facebook which said that it was closing. So I said to myself it was the moment (to come). It's a small shop in Paris but there are still quite a lot of people compared to usual. The last time I came was at least a year ago. I go very rarely, but knowing it's going to close there are still quite a lot of products that you can't buy in France - so it's the moment to buy Christmas cakes and things like that for my family." SIGN FOR MARKS & SPENCER (SOUNDBITE) (French) PASSER-BY, JEAN-MICHEL GRANGEAUT, SAYING: "English gastronomy for breakfast, I won't be missing the rest of English gastronomy but all the breakfast items - crumpets, muffins and things, it's a bit of a shame. But I don't think they only make money on grocery products." GRANGEAUT SHOWING SHOPPING BAG FULL OF CRUMPETS PEDESTRIANS ON CHAMPS ELYSEES AVENUE / MARKS & SPENCER STORE WOMEN LEAVING STORE / SIGN FOR MARKS & SPENCER SIGN FOR M&S PEDESTRIANS ON CHAMPS ELYSEES AVENUE (SOUNDBITE) (English) PASSER-BY FROM ANNAPOLIS MARYLAND IN UNITED STATES, BRENDA COLLINS, SAYING: "Sad, this is actually the first time I've been in this store on the Champs Elysees and I'm so excited to have found it. I'm very disappointed, terrible, everything is wonderful - the food is incredible. I'm sure a lot of people are going to miss it." ARC DE TRIOMPHE ON CHAMPS ELYSEES AVENUE / MARKS & SPENCER STORE
- Embargoed: 23rd November 2016 16:20
- Keywords: Marks & Spencer M&S Britain Paris store Marmite
- Location: PARIS, FRANCE
- City: PARIS, FRANCE
- Country: France
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA00157L64AV
- Aspect Ratio: 16:9
- Story Text: Britain's Marks & Spencer plans to shut more than 80 stores at home and abroad at a cost of up to 550 million pounds ($684 million) as its new boss tries to revive the retailer by shifting its focus more towards food than fashion.
M&S, whose shares have fallen 22 percent so far this year, reported a 19 percent slump in first-half profit on Tuesday (November 8) and another decline in quarterly clothing sales.
The company said it will retreat overseas, closing 53 stores in 10 loss-making markets, including France and China, at a cost of 150-200 million pounds over the coming year, concentrating instead on its profitable franchise model.
Shoppers on Paris' iconic Champs Elysees were disappointed the store on the shopping avenue was among those expected to close.
"I saw an article today on Facebook which said that it was closing. So I said to myself it was the moment (to come). It's a small shop in Paris but there are still quite a lot of people compared to usual. The last time I came was at least a year ago. I go very rarely, but knowing it's going to close there are still quite a lot of products that you can't buy in France - so it's the moment to buy Christmas cakes and things like that for my family," 24-year-old student Diane Sicre told Reuters Television.
Passer-by Jean-Michel Grangeaut, who had filled his shopping bag full of crumpets, said it was a shame the store was facing closure.
U.S. shopper Brenda Collins said Tuesday was the first time she had been to the store.
"I'm very disappointed, terrible, everything is wonderful - the food is incredible. I'm sure a lot of people are going to miss it," she said.
M&S trades from 468 overseas stores across 58 international markets, with 194 owned stores and 274 franchise stores. - Copyright Holder: REUTERS
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