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Published
Nov 1, 2020
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M&S expected to report H1 loss for first time ever

Published
Nov 1, 2020

Analysts expect M&S to report a loss of between £59 million and £95 million for the first six months of its financial year this week. That's largely due to the impact the lockdown this spring had on its Clothing & Home sales. 


M&S



And the latest lockdown just announced for England is likely to make a big dent in its second-half sales as well, especially given that the lockdown is coming not long before Christmas.

A year ago, the biggest fashion retailer in the UK reported profits of £176 million. The company’s profits have been taking a hit for some years, but even so, reporting a loss is not what M&S is used to. Assuming it does make a loss this time, it would be the first in roughly a century of trading

The company releases its results on Wednesday and analysts also expect it to say that its first-half sales fell by around 40% in the Clothing & Home segment.

Although the company was able to keep it shops open due to them selling food, its more successful foods operation is still only expected to report sales that were flat during the period.

Last week, it emerged that the company has decided not to advertise its clothing offer on TV for this Christmas season. With the newly announced English lockdown, that looks like a sensible decision. The retailer will want to hang on to every penny it can and not spend heavily as it usually does supporting a segment that's unlikely to be buoyant this Christmas season.

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