Marks and Spencer to shut 80 stores, but none in Republic

British retail giant Marks and Spencer has stressed its commitment to Ireland by saying its operations here will not be affected by its strategic review which will result in around 80 store closures in its UK and international divisions.

Despite better-than- expected first-half results — a profit of £231m (€259m) beat market estimates of £216m, but was still down from £284m last year — M&S yesterday confirmed plans to close and realign a number of stores.

In all 80 are to close over the next five years. That will include all of its 53 centrally-owned non-profitable stores within its 466-strong international shop portfolio, most of which are either joint-venture agreements or franchise operated.