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The BBC reports that Marks & Spencer is saying that it plans to close "30 UK clothing and homeware shops and convert dozens more into food stores" and "to close loss-making shops in 10 international markets, including China and France."

The story says that CEO Steve Rowe's turnaround plans "will also see it open 200 new Simply Food stores as it shifts away from disappointing fashion sales."

One interesting passage from the BBC story: "Among the sites being closed is its department store on the Champs Elysees in Paris - it will be the second time M&S has closed its flagship branch in France. In 2001 M&S closed all its European stores, before returning to France 10 years later under former boss Marc Bolland.

"Retail Vision analyst John Ibbotson said: 'M&S's humiliating withdrawal from 10 overseas markets is... a Dunkirk moment for [the] iconic British brand'."
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