Marks & Spencer to Shut Philippine Stores After 40 Years
Synopsis
Marks & Spencer confirmed it will exit the Philippines in May 2026, closing all stores after nearly 40 years in the market. The decision follows a review of its international operations. The retailer recently reported £13.0 billion in annual revenue and is concentrating on priority markets as it adjusts its global retail footprint. Clearance sales are expected before final store closures.
Marks & Spencer will close all Philippine stores in May 2026, ending nearly 40 years of operations. The company said the move follows a review of its international business. The retailer reported £13.0 billion in revenue for the financial year ended April 2025 and is focusing on priority markets.
Key Highlights
- Marks & Spencer to exit Philippines market in May 2026.
- All local stores to close after nearly four decades.
- Decision follows international operations review.
- Company reported £13.0 billion revenue in FY2025.
Marks & Spencer will close all its stores in the Philippines by early May, ending nearly 40 years of operations in the country. The move confirms the Marks & Spencer Philippines exit, a development disclosed by its local franchise holder, Stores Specialists Inc. (SSI).
SSI said the British retailer will cease operations on May 2, 2026. The company is managing clearance sales and transition plans ahead of the final shutdown. Several outlets have already closed in recent months, with remaining stores offering discounted merchandise.
Four Decades in Philippine Retail
Marks & Spencer began operating in the Philippines in the late 1980s. At its peak, the brand maintained more than 20 locations nationwide through department store concessions and standalone shops. As of February 2026, around a dozen stores remained listed before the full closure announcement.
The retailer offered clothing, food products, and home items, catering largely to mid- to upper-income shoppers in major urban centres.
Strategic Review and Global Focus
The Marks & Spencer Philippines exit follows a review of international operations as the UK-based retailer reshapes its global footprint. In its most recent financial results for the year ended March 30, 2025, Marks & Spencer reported group revenue of £13.0 billion, with stronger performance in its food division and improved margins in clothing and home.
The company has been prioritising investment in its core UK market while simplifying overseas operations through partnerships and selective withdrawals.
Philippine Retail Sector Context
The Philippines remains one of Southeast Asia’s largest consumer markets. Government data show household consumption accounts for more than 70% of gross domestic product, supporting steady retail demand. Industry estimates place total retail sales in the trillions of pesos annually, driven by urbanisation, remittances from overseas Filipino workers, and shopping mall expansion.
However, the apparel segment has become more competitive in recent years, with global fast-fashion chains, local brands, and e-commerce platforms expanding their presence.
SSI said it will continue operating its broader portfolio of international brands in the country following the Marks & Spencer withdrawal.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
