According to a study by analyst Global Data suggests Primark could overtake M&S in terms of market share of the clothing sector after the latter announced plans to close 100 stores by 2022 as part of its turnaround program.The high street retailer has already shut 21 stores since the announcement of its store estate program in November 2016. Further 14 stores have been proposed for closure or set to close, as M&S accelerates its store closure program.
These closures will radically reshape the company’s clothing and home space.Figures from Globaldata show that M&S’s market share fell from 9.7 per cent in 2008 to 7.6 per cent in 2018, while Primark surged from 4.4 per cent to 7 per cent.
