As the taste of Filipino consumers and shopping behavior continue to evolve.
In its disclosure to the Philippine Stock Exchange on Wednesday, February 25, Stores Specialists, Inc., a 100% owned subsidiary of the SSI Group (SSI), issued a clarification to the recently circulating news reports regarding Marks & Spencer, one of the company’s operated brands in the country.
In recent days, it was alleged on social media that the chain, which has over a dozen in the Philippines, will soon exit the Philippines.
“[We] would like to clarify that Stores Specialists will cease operations of Marks & Spencer in the Philippines, with the final day of store operations set for May 2, 2026,” Store Specialists wrote.
It continued, “This has not been an easy decision. Building Marks & Spencer in the Philippines has been a meaningful and rewarding chapter for our organization.“
“We are deeply grateful to our loyal customers, dedicated employees, and partners who have supported the brand through the decades,” the management added.
The SSI subsdiary noted that as consumer tastes and shopping behaviors continue to evolve, it is both “prudent and necessary” to channel its energy and resources toward brands that reflect the current and future direction of the market.
“While the company recognizes the significance of this transition, it also views change as an essential part of growth,” it added.
Management also shared, “Retail is constantly transforming. Change is inevitable, tastes evolve, and therefore so should we,” and stressed their commitment to the constant strengthening of its portfolio and delivering experiences that resonate with consumers.
“SSI will work closely with employees, partners, and stakeholders to ensure a responsible and respectful transition as operations wind down. Further details regarding timelines, promotions, and customer advisories leading up to May 2, 2026 will be communicated in due course,” it ended its statement.
A popular brand in the United Kingdom, the first Marks & Spencer store was opened in the Philippines nearly four decades ago.