Marks & Spencer beats retreat from France, reports say

Marks & Spencer has reportedly begun a retreat from France as part of new chief executive Steve Rowe's turnaround plans.

The FTSE 100 retailer plans to shut its 15,000 sq ft store on the Champs-Elysees in Paris, according to a Bloomberg on Wednesday afternoon.

Rowe will confirm the closure as part of his wider strategy at the group's trading update on 8 November, sources said.

After being promoted to the top role in the spring, Rowe has focused his recovery plan on general merchandise sales, though the going has not been easy as first quarter results fell well short of expectations.

Shares in M&S were up 1.2% to 338.5p by the middle of Wednesday afternoon.