I pronounce it /kloUz/, the same way that I pronounce ''close''.
How do you pronounce ''clothes''?
Re: clothes - I pronounce it with the edda (ð) sound (kloðz) even though kloz, maybe even klo will probably become the eventual official pronunciation given the universal tendency for human languages to simplify. In French, Old French 'loup' (wolf) is pronounced without the final -p-sound in Modern French.
I think its one of the most difficult words for non-english speakers to say. I pronounce it clowthz.
/klOuthz/ when I'm being careful with pronuncation, /klOuz/ when I am not.
In most speech here, "clothes" is both /kloDz/ -> [k5_0o:Dz] and /kloz/ -> [k5_0o:z], with the former being favored increasingly in more formal speech, and the latter being favored increasingly in more informal speech.
The same way I pronounce the verb "close". I think that is probably /kloz/ - all the time
I pronounce both the th and the s. I say "clothe" and then add the s, so it ends up being a slightly longer word.
To me they are equivalent, and "shall" sounds archaic, but Commonwealth usage may be different.