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04 Nov 2020 | 07:02

M&S swings to loss as Covid hammers clothing sales

(Sharecast News) - UK retailer Marks & Spencer swung to a half-year loss as coronavirus lockdowns hit its clothing division. The company on Wednesday posted a pre-tax loss of £87.6m from a profit of £159m a year earlier.

"There remains significant uncertainty regarding the near-term outlook in relation to both Covid and Brexit. Trading in the first four weeks of the second half has continued at similar rates to the end of Q2, with F=food revenue up 3%, C&H revenue down 21.5% and International revenue up 7.4% due to the timing of shipments," the company said.
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