M&S under pressure to reduce stores

Marks & Spencer is under pressure from its largest shareholders to offload some of its stores, or those that are underused.

A new plan to return the high street giant as a consumer favourite will be unveiled this week, as new boss Steve Rowe prepares to unveil an overhaul of the company.

Currently M&S's portfolio of stores is proving one of the biggest “headaches” for senior management. Since Marc Bolland was replaced as chief executive in March, radical ideas such as a carve-up of its store estate, shop closures and the introduction of concessions are being dusted off and analysed.

Rowe will unveil his plans this Wednesday at the same time the company is expected to post a 2 percent rise in pre-tax profits to 673 million pounds.

Image:M&S SS16 campaign