M&S's clothing and home sales sank by 32pc as the division recorded a £129m loss. Despite numerous attempts to regain its position as a leader on the high street, the pandemic has forced the retailer into retreat.
To ease the searing pressure on the company's bottom line, Rowe and chairman Archie Norman are slamming the shutters down on dozens of stores and accelerating a shift towards food.
Around 30 so-called full-line stores - which sell clothing, home and food ranges - are caught in a death spiral of long-term decline and will be picked off, the company says.
A further 80 sites will either be refashioned as food-only shops or moved to new locations. It is the latest move by M&S to focus more on food.
Read more on msn.com
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