Marks & Spencer Group PLC said Friday that the coronavirus pandemic hurt business in the third quarter of fiscal 2021.
The U.K. retailer said group sales for the 13 weeks ended Dec. 26 fell 8.4% year-on-year to 2.77 billion pounds ($3.76 billion). U.K. sales fell 8.2% on year, or 7.6% on a like-for-like basis, to GBP2.53 billion, while international sales decreased 10% to GBP239 million, it said.
In the U.K., food sales rose 2.2%, or 2.6% on a like-for-like basis, to GBP1.74 billion, while clothing and home sales fell 25%, or 24% on a like-for-like basis, to GBP787 million.
Brokerage Numis Securities expected the retailer to report a 33% drop in clothing sales and a 1.5% rise in food sales for the third quarter.
"Near term trading remains very challenging," M&S Chief Executive Steve Rowe said.
January 08, 2021 at 02:24PM
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Marks & Spencer sales slump 8% in holiday quarter - MarketWatch
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