Marks & Spencer Suffered a Loss For The First Time In 94 Years

Marks & Spencer Suffered a Loss For The First Time In 94 Years Marks & Spencer suffered a loss for the first time in 94 years. British retail company Marks & Spencer suffered a loss of £87.6 million. In the statement made by British retail giant Marks & Spencer, announced that the company lost £87.6 million between February 26-September 26, 2020. In the statement, it was reported that the company's total sales revenues decreased by 15.8 percent to £ 4.09 billion, especially with the effect of quarantine measures. It was also said that customers' shopping for clothing and home textiles decreased significantly. Marks & Spencer had made a profit of 158.8 million in the same period last year. In addition, in a previous statement, the company had stated that 7 thousand people would be laid off by the end of November. Making a statement last weekend, British Prime Minister Boris Johnson informed that the country will go into quarantine for 4 weeks due to the increase in new coronavirus (Covid-19) cases.