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Marks & Spencer (M&S) saw another big fall in sales of clothing and homeware in the Christmas quarter as COVID-19 restrictions hit demand and closed space, factors it said were masking progress made on its turnaround plan.
M&S said this was partially offset by strong online sales growth of 47.5% to £353m in the period. Total UK sales were down 8.2% to £2.5bn. “The sales
8 January 2021 | 07:44am StockMarketWire.com - Marks & Spencer reported a slump in profits in the run up to Christmas as trading restrictions resulting from the Covid-19 pandemic continue to take their toll. The company said total group revenues fell 8.4% to £2.7 billion in the 13 weeks to 26 December. Third quarter revenues for clothing and home fell 25.1% to £787 million, while international revenues dropped 10.4% to £239 million. Revenues were bolstered by online retail sales which rose 47.5% to £353 million. Online food sales were up 2.2% to £1.7 billion. Steve Rowe, chief executive...
Friday, 08 Jan 2021 03:52 PM MYT Marks & Spencer said revenue in its clothing and home division slumped 25.1 per cent in the 13 weeks to December 26, its fiscal third quarter, having fallen 21.3 per cent in the previous quarter. — Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. LONDON, Jan 8 ― Marks & Spencer today reported another big fall in clothing and homewares sales in its Christmas quarter, as the Covid-19 pandemic hit demand and restrictions to stem the spread of the virus closed stores. Marks & Spencer (M&S), one of the best known na...