Marks & Spencer is expected to reveal clothing sales dropped by as much as 5% when it reports its interims tomorrow.
The retailer is also expected to announce a 20% slump in profit to £218m, analysts from Investec told This is Money.
Chief executive Steve Rowe will outline his plans for M&S’s UK and international store portfolio tomorrow.
It is thought its flagship store in Paris and some stores in China are among those in the firing line internationally. M&S has 468 stores across Europe, Asia and the Middle East.
In the UK, where it has 914 stores, up to 30 are pegged for closure, according to various reports. One property source told Drapers M&S could stand to lose up to 20% of its UK store estate.