The group told shareholders that total revenues dropped after this slump offset an improvement in its food operations. It follows a £67.2m statutory profit in the previous year.
Door-to-door Covid testing to start in North Tyneside today to battle spread of Indian variant.
#SPENCERS BREAKAWAY BOTTLES UPDATE#
The update came as M&S tumbled to a £201m pre-tax loss for the year to March 27 after its clothing and home business was particularly hammered by pandemic restrictions Read More Related Articles The group current has 254 full-line stores, which sell food and clothing, but it plans to reduce this to around 180 over the next 10 years, with some of these being replaced by food-only or purely clothing and home sites. M&S said the impact of the pandemic has provided it with a strong opportunity to purchase new locations, with the group currently targeting six new stores in former Debenhams units. The 30 planned closures will be part of a shake-up of around 110 stores, with the majority of these sites set for relocation. It has already closed or relocated 59 stores but said it is accelerating changes to its portfolio of shops following the impact of the pandemic. The retailer said it is targeting 30 more closures in the "next phase" of its long-term transformation plan.
Marks & Spencer is set to close more stores after plunging to a hefty loss for the past year after being hit hard by high street lockdowns.
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