LONDON - BRITISH retailer Marks & Spencer is set to cut more than 1,000 jobs in stores, its head office and support functions following disastrous Christmas trading, The Times website reported on Monday.

The newspaper said the iconic high street chain would announce the cuts on Wednesday, when it is due to release a trading update to the City.

A spokesman for M&S declined to comment.

The news comes as retailers across the board are expected by analysts to announce terrible sales figures over Christmas, while some, such as Ireland's Waterford Wedgwood on Monday, have called in receivers. -- THOMSON REUTERS