Marks & Spencer Group Plc may close some of its stores in China as the company looks to trim its loss-making outlets.

The company has not announced any such plans, but it is highly likely that the management may make such an announcement on November 8. The company had been operational in China for eight years. However, it is likely to close its stores in other international locations as well.

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Marks & Spencer CEO Steve Rowe is scheduled to provide an update to investors on the company's plans for its international ventures on November 8. The UK cloth retailer is looking to cut its costs to improve its margins.

According to Bloomberg, the company is also rumored to be planning to slash nearly 525 head office jobs. Apart from closing stores in China, the company may also shutdown its flagship Paris department store, located on the Champ Elysees.

Marks & Spencer debuted its business in China in 2008. Bloomberg cited Paul French, an independent brand consultant, saying that the company did not have any UK customer base in China. He stated that Chinese culture is more aspirational, offering better chances for high-end brands to thrive.

Marks & Spencer faces a tough business environment in China. While it opened its flagship store in Beijing late last year, it also saw the closing of five of its smaller branches in the country. The company plans to focus on key markets such as Shanghai. The British brand currently has ten stores in the country. Marks & Spencer also retails its products through JD.com and TMall.com.

Tagschina, Marks & Spencer, JD.com