Marks & Spencer targets bigger Philippine comeback

Bigger stores and omnichannel retail will anchor the expansion.

Marks & Spencer Group Plc (M&S) aims to expand beyond its previous Philippine footprint, targeting more than 30 stores as it returns under a different franchise partner after closing its retail network earlier this year.

“At the heart of our strategy is opening the right stores, in the right places with the right space,” Richard Davies, director of partnerships at M&S, told Retail Asia. “Our stores will be bigger, better, and omnichannel-ready.”

The British retailer will reopen later this year with a flagship store at Glorietta Mall in Metro Manila, the first step in a broader rollout of bigger-format outlets offering fashion, food, home, and beauty products.

M&S appointed PT Mitra Adiperkasa Tbk as its Philippine franchise partner in June as part of a broader regional strategy.

Davies said the company has operated M&S stores in Indonesia and Vietnam for more than 26 years, making it “a natural next step” to expand the partnership into the Philippines.

The retailer previously operated more than 20 stores in the Philippines.

“Our ambition is to have over 30 stores which bring the best of M&S Fashion and Food to customers in the Philippines,” Davies said.

In its May 2026 filing, M&S reported adjusted profit before tax of $899m (£671.4m) for fiscal year 2025/2026, down from $1.2bn (£881.1m) a year earlier. Second-half adjusted profit rose 4.1% year on year as growth in food offset weaker fashion, home and beauty performance.

International sales fell 7.2% during the year, partly because of shipment delays to the Middle East in the final month of the financial year. However, adjusted operating profit from the international business rose to $52m (£39.1m) from $48m (£35.9m), driven by lower costs as M&S streamlined franchise agreements and expanded wholesale and online marketplace partnerships.

Davies said M&S remains confident about the Philippine market despite the store closures, citing strong consumer fundamentals and a loyal customer base.

“We have a longstanding presence in the Philippines, having operated in the market since 1984, and we believe there continues to be growth opportunities ahead,” he said.

“The Philippines is a growth market for retail. It combines a large, youthful, and trend-driven population with rising disposable income and strong demand for global brands,” he added.

Davies said the company remains committed to the market despite interrupted operations.

“We have an incredibly loyal customer base in the market and will be going above and beyond to deliver the magic of M&S to customers in the Philippines,” he said.