LONDON—Marks & Spencer Group PLC reported a sharp drop in half-year underlying profit Tuesday as the British retailer announced a restructuring program that involves culling stores across 10 international markets and closing many stores in its struggling U.K. clothing and home arm. M&S, a mainstay of the U.K. high street, reported underlying pretax profit, which strips out one-time charges, fell 19% to £231.1 million ($287 million) for the six months to Oct. 1. The company reported net profit of £16.9 million...

Source: Wall Street Journal November 08, 2016 07:47 UTC