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Covid-19 pushes Marks & Spencer to its first loss in its 94-year history

Covid-19 pushes Marks & Spencer to its first loss in its 94-year history

UK’s Marks & Spencer has recorded a loss for the first time in its 94-year history. This is seen as a result of the Covid-19 pandemic, which forced it to shut stores. M&S said clothing and home sales fell 21.3% in the Q2 after the Q1 decline of 61.5% as the lockdown hit in March. This left M&S down by almost 41% down over the 6 months and its revenue dropped by 16% to £4.1 billion ($5.36 billion).

Chris
Chris
Julian
Julian 2 months

Covid did this? Or authoritarian lockdowns?

Top in Business