Marks & Spencer denies giving up on the high street [Yahoo! Finance]
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Source: Yahoo! Finance
In response to concerns that M&S is focusing too heavily on retail parks, Archie Norman, the company's chairman, said there was “absolutely not a pro-out-of-town or anti-city-centre policy” at the retailer. It follows a recent openings in non-high street locations, with M&S this year announcing new stores at Ladymead Retail Park in Guildford, Surrey, and in Gallagher Retail Park in Dundee. When asked during the company's annual general meeting whether M&S had given up on the high street, Mr Norman said it was “absolutely not trying to leave city centres”. However, the M&S chairman added: “We do have some older stores that are hard and costly to maintain and run so we have to look at that.” Stuart Machin, the M&S chief executive, said the company “could not afford to refurbish” some of these sites and would instead be investing in stores located near fast-growing communities. Mr Machin said this meant it would be looking for new locations in city centres, as well as out-of-t
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