Marks & Spencer is accelerating plans to close stores, setting it on course to shut 100 outlets by the end of 2020, almost two years ahead of schedule.
Sources say the cost of speeding up the closures will take a bigger chunk out of profits, although some stores will be relocated to new sites on more affordable rents, or converted to food-only outlets.
Analysts expect M&S to report an 11% drop in underlying pre-tax profits to £519m this week — a third consecutive year of decline.
