British retailer Marks & Spencer said on Monday that it will continue to expand its business in Macau whilst it is closing five of its stores in Shanghai, China. The retailer said a new store occupying 1,000 square metres will open in the Venetian Macau this November, the second it has opened in the Special Administrative Region. The company will close five of 15 stores in the Shanghai region by August this year, following a review of its growth plans in the country. Meanwhile, the retailer said it would continue expanding its Hong Kong market, where it currently has a total of 18 stores and 4 standalone food stores.
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