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).