UK based Marks & Spencer announced to open 100 stores in - TopicsExpress

UK based Marks & Spencer announced to open 100 stores in India: UK based Marks & Spencer on 20 May 2014 announced that the company will open 100 stores in India by 2016. Earlier it had planned to open 86 stores in India. At present, Marks & Spencer (clothing retailer) operates 40 stores in India and it same-store-sales grew 13 percent in the fiscal year 2013-14.Same-stores-sales is a key performance metric for retailers and measures sales growth at stores open for more than a year.About Marks & Spencer • Mark & Spencer was founded in 1886 and is headquartered at Leeds.• Marks & Spencer operates in India as a joint venture with Reliance Retail, a unit of Mukesh Ambani led Reliance Industries. • M&S faces tough competition in India from the worlds biggest fashion retailer Inditex SA (ITX.MC) and its Zara brand.

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