Pursuits

M&S Plans Store Closures in China as CEO Rowe Cuts Losses

Mens shirts sit in a wooden display cabinet inside a branch of Marks & Spencer Group Plc (M&S) in London.
Photographer: Chris Ratcliffe/Bloomberg

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By Sam Chambers and David Hellier

November 2, 2016 at 5:05 PM UTC

This article is for subscribers only.

Marks & Spencer Group Plc plans to close some of its Chinese stores as Chief Executive Officer Steve Rowe backs away from loss-making international operations, according to a person familiar with the matter.

The closures will be announced on Nov. 8 when Rowe updates investors on his plans for the chain’s international businesses, said the person, who asked not to be identified as the plans aren’t yet public. A company representative declined to comment.