M&S to close some Simply Food stores
LONDON (Reuters) - High street chain Marks & Spencer plans to shut down more than 10 of its stand-alone Simply Food stores as it battles tough trading, The Financial Times newspaper said on Wednesday.
The report said the iconic retailer had been gauging interest from rivals about buying stores, although 10 would represent just a small percentage of its 350-strong chain.
A spokeswoman for M&S declined to comment.
The company, which is due to release a Christmas trading update at 7 a.m. British time on Wednesday, is also reported to be cutting around 1,000 jobs.
(Reporting by John Bowker)
© Thomson Reuters 2009 All rights reserved.
Insider sales not a sell signal
U.S. corporate bosses are likely to sell more of their companies' stock through to the end of the year, but that does not mean share prices have topped. Full Article
UK
US
Business Update: Kraft turns hostile