Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Marks & Spencer plan to expand with a new store to be launched on Champs Elysees in Paris. The new store will be part of a strategy to concentrate on expansion into Europe as sales fall in the United Kingdom. Although the company reported growth in sales during the last quarter of 2010, the first quarter of 2011 has been disappointing, with sales falling between four and eight per cent. Shares have also fallen by 12 percent during the last six months.

As the effects of benefits and job cuts take hold, with incomes dropping, consumers are becoming increasingly wary of spending. Even stable areas such as food, children and holidays are experiencing a fall in sales. As sales fall, Marc Bolland, the new Chief Executive will continue with plans to expand into Europe, with Simply Food stores being opened in Paris as well as stores in railway stations and airports.

Although in 2001 M & S closed its 38 stores in Europe in order to concentrate on rebuilding its business in the UK, the company are confident that moving away from the struggling UK economy will encourage new growth for the group.

Many businesses will be feeling the effects of job losses and spending cuts which is why outsourcing to a small business accountancy will increase return on investment. A low cost accountant will prepare a strategy for the future of your business, based on real time figures which provide accurate growth projection.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

More posts by this author
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

Read More

Succession Planning for Business Owners: What Comes Next?

When you own a business, it’s extremely normal to feel like you’re surviving one day to the next – ‘winging it’, as…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.