Retail internationalzation has attracted much attention in recent years as the scale and nature of the activity has changed. Most analysis of retail internationalization however is based on market entry and mainly successful businesses. Here, the internationalization strategy of Marks and Spencer over 30 years is examined. Its recent large-scale withdrawal from such activity is considered in the light of theories about internationalization and business failure. The complexity of market exit and failure are important under researched dimensions of retail internationalization. More detailed and careful work on market entry and withdrawal (failure?) is needed to adequately conceptualize the subject area.