Marks & Spencer is expected to drive on with a store closure plan and the shutters could come down on more branches.
Marks & Spencer, which issues interim results on Wednesday, is thought to be considering a more radical approach to its property amid tough trading conditions and following the arrival of turnaround king Archie Norman as chairman, The Guardian reported.
Norman also believes that Marks & Spencer must cut clothing prices further and that too much of its clothing range is targeted at the over-55s.
Last year M&S revealed that it would reduce shopfloor space devoted to clothing by 10%.
Chief executive Steve Rowe said then that 30 of M&S’ “full-line” stores – which sell clothing, homewares and food – would shut and another 45 would be downsized or turned into food shops
However, it is thought that Rowe, along with Norman, has been working on more radical restructuring proposals. More details may emerge this week.
Separately, Norman has told M&S managers that “urgent focus on getting the opening price-points right” is needed.
He made the point in an internal memo seen by The Guardian, in which he also said the retailer was “buying too much for the over-55 customer” when it needed to “attract the 35+ customer back”.
M&S is expected to report first-half profits down by more than 10% to about £201m in the six months to the end of September.
M&S’ turnaround efforts are being undertaken against a tough fashion backdrop.
Last week Next chief executive Lord Wolfson said trading had been “extremely volatile”.