Nightmare before Christmas: M&S set for big loss on Covid-hit high street https://ift.tt/2HILwoh Zoe Wood Its Ocado tie-up may bring Marks festive joy, but as restrictions and uncertainty bite, even Primark looks less than cheerful The next two months are supposed to be the most lucrative time of the year for the high street, but a grisly update from Marks & Spencer will this week provide a grim reality check as the pandemic sets up nightmarish trading conditions for the golden quarter. Analysts expect M&S to have made a loss of about £60m in the first six months of its financial year because of the huge sales hit suffered by its clothing arm during the three-month spring lockdown. This time last year, the UK’s biggest clothing retailer was reporting profits of £176m. Continue reading... https://ift.tt/eA8V8J November 01, 2020 at 02:05AM

Its Ocado tie-up may bring Marks festive joy, but as restrictions and uncertainty bite, even Primark looks less than cheerful

The next two months are supposed to be the most lucrative time of the year for the high street, but a grisly update from Marks & Spencer will this week provide a grim reality check as the pandemic sets up nightmarish trading conditions for the golden quarter.

Analysts expect M&S to have made a loss of about £60m in the first six months of its financial year because of the huge sales hit suffered by its clothing arm during the three-month spring lockdown. This time last year, the UK’s biggest clothing retailer was reporting profits of £176m.

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from The Guardian https://ift.tt/2HILwoh