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M&S to scale back international stores

Marks & Spencer could pull out of many of its international stores as part of CEO Steve Rowe’s plans to boost profits at the retailer.

Marks & Spencer

Marks & Spencer

Rowe is examining the chain’s overseas stores following an “unsustainable” decline in profits, according to The Telegraph.

The company’s annual report reveals the board is “looking at every part of [the] international business to make sure [the] strategy remains relevant”.

Marks & Spencer has 468 shops in 58 countries across Europe, Asia and the Middle East which are a mixture of franchise, joint-venture and company owned.

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