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Marks & Spencer (M&S), one of the UK’s largest retail chains, announced a loss for the first time in 94 years.
In a statement from Marks & Spencer, it was reported that the retail chain lost £ 87.6 million between February 26 and September 26, 2020.
In the statement, it was stated that the company’s total sales revenue fell by 15.8% to £ 4.09 billion, particularly as a result of the quarantine measures, and that customers’ clothing and home textile spending fell significantly.
The company posted a profit of 158.8 million pounds in the same period last year.
Marks & Spencer previously announced that 7,000 people would be laid off by the end of November.
British Prime Minister Boris Johnson announced last weekend that the country will go into 4-week quarantine due to the increase in new types of coronavirus cases (Kovid-19).
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