Marks and Spencer has put on hold all international expansion while it sorts out its UK operations, chairman Luc Vandevelde said this week. "At this point we've stopped all expansion everywhere until we know where we want to go and how we want to do it. At that point, we will go full steam ahead." In the long term he said his preferred route is scale building in existing markets in order to develop the brand. Other European markets are in the retailer's sights. Vandevelde said: "We will be concentrating on developing some markets in depth rather than spreading around the world." In the meantime, M&S has abandoned plans to sell Kings Super Markets in the US after failing to "achieve the price that reflected the value of the business". {{NEWS }}

Topics