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Report: UK's Marks & Spencer to announce more store closures

U.K. retailer Marks & Spencer Group PLC will close down more stores as part of its plan to cut floor space devoted to its ailing clothing ranges, The Guardian reported May 20.

CEO Steve Rowe reportedly will announce the list of stores slated for closure ahead of the British retailer's annual results May 23. The report said 100 branches could close amid falling sales and profits. As many as 20 already have closed.

M&S in 2018 has shut down some of its distribution centers, including those in Neasden in North London and Hardwick in Cheshire. The closures resulted in hundreds of job losses.