Owing to supermarkets and retail stores indulging in big time discount sales, Marks & Spencer (M&S) has launched its biggest price investment ever in Ireland, stated a report. They have reduced the price of 200 products in the bargain.
M&S being a high-end shopping chain decided to close down more than 100 of its retail stores in the United Kingdom (UK) recently. This decision will however, not affect the stores they have located in Ireland disclosed a spokesperson. The spokesperson further said, the prices will be reduced by an average of 24%. The reduction in prices has already commenced and there will be a further lowering of prices in the months to come it was reliably learnt.
“This is our biggest ever price investment in the Republic of Ireland. We’re doing it to sharpen our prices for customers who we know come to us for our trusted value and great quality products,” said Ken Scully, M&S Ireland country manager.
Earlier in November 2016, M&S had set in motion a five-year overhaul of its UK stores amid intense competition from supermarkets and budget garment chain Primark (Penneys in Ireland) – as well as online giants like Amazon. In 2017, M&S accelerated the move to restructure the retail model.
Sacha Berendji, M&S retail, operations and property director, said, “We are making good progress with our plans to reshape our store estate to be more relevant to our customers and support our online growth plans.”
M&S which currently has a total of 1,035 stores will soon be coming out with its annual report.