M&S to close stores and reduce clothing space

By James Davey LONDON (Reuters) - Britain's Marks & Spencer plans to shut more than 80 stores at home and abroad at a cost of up to 550 million pounds as its new boss tries to revive the retailer by switching space towards food and away from fashion. M&S's latest attempt at a turnaround after several false dawns will see its UK space profile shift to 50 percent clothing and homeware and 50 percent food, from a current two-thirds/one-third split. Steve Rowe, a company veteran who took ove