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M&S to open stores in China and India


New York City Marks & Spencer Group Plc, the U.K.’s largest clothing retailer, said Tuesday it will expand in China, India and Eastern Europe, according to Bloomberg.

The retailer also said it will close more than 100 British warehouses and consider selling food online to convince investors it can rekindle growth after two years of declining domestic sales.

“It’s about laying the foundations for future growth” by becoming more “customer-focused, multichannel and international,” finance director Ian Dyson said.

Spokeswoman Clare Wilkes said it is “far too early” to discuss potential job losses stemming from warehouse closures.

The retailer said it plans to add 50 outlets in India to its 15 stores in the country through its joint venture with Reliance Industries Ltd., while expansion in China will focus on 12 cities from the current single store in Shanghai.

Earlier this decade, the retailer pulled out of operations in continental Europe and sold its U.S. chains Brooks Brothers and Kings supermarkets to focus on the United Kingdom.

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