M&S's profit slumps as clothing sales tumble
With people mostly staying at home for the past year, clothing sales tumbled at British retailer Marks & Spencer.
The company reported an 88% slump in full-year profit on Wednesday (May 26), but it said it was making progress with its turnaround plan
M&S said it had traded well in the early weeks of the current financial year, and that profits would recover.
Its shares were up more than 6% in morning trade.
The 137-year old group said like-for-like clothing and homeware sales plunged 31.5%, mainly due to ongoing lockdowns which shuttered stores across the country.
However, as its upmarket food halls were allowed to stay open during the crisis, like-for-like food sales rose 1.3%.
CEO Steve Rowe has been driving the chain's latest attempt at a reinvention after decades of failures.
Along with chairman Archie Norman, he's focusing on transforming the company's culture, while closing stores, investing heavily in technology and e-commerce, and improving product and value to broaden its appeal.
Rowe now expects online penetration of its clothing and home business to reach up to 50%, and as a result he said M&S was taking a careful look at the size of its store estate.
相關影片推薦
- 1:22日本石川縣再傳規模6強震 監視器全記錄 5棟住宅倒塌Yahoo奇摩(國際通)42,966 次觀看・15 小時前
- 1:36百貨停車場塞爆! 汽車出場花1小時挨轟「被軟禁」|#鏡新聞鏡新聞43,772 次觀看・18 小時前
- 3:38驚險瞬間!遇潮境公園山崩 民眾高喊:趕快跑、快救我民視影音79,892 次觀看・15 小時前
- 2:01墨西哥史上首位女總統誕生 61歲薛恩鮑姆獲逾半數選票 38名候選人喪命 挨批最血腥選舉Yahoo奇摩(國際通)17,682 次觀看・15 小時前
- 1:33百貨美食街變擂台! 員工.顧客為「丟杯」火爆開打華視影音77,710 次觀看・18 小時前
- 1:17不要命了?基隆山崩「阿姨邊退邊拍」 驚悚瞬間全都錄民視影音193,146 次觀看・14 小時前
- 1:45寶林受害者家屬代墊60萬醫藥費 控「市府在拖」東森新聞影音2,530 次觀看・13 小時前
- 1:45「興華趙子龍」 林雅各返校上課 師生熱烈歡迎TVBS新聞網影音1,402 次觀看・13 小時前
- 1:37天道盟創始人吳桐潭移靈基隆 40多輛豪華超跑護送民視影音38,046 次觀看・12 小時前
- 1:50自小客車主從土石堆中自行脫困 決定繼續旅遊行程民視影音8,228 次觀看・14 小時前
熱門必看
- 4:31精華|斜槓比本業還成功的星座排行榜!牡羊先衝再說什麼都敢做!?唐綺陽談星室35,497 次觀看・4 天前
- 9:27第一次去立山黑部就搶到頭香? 畫面太震撼!直擊全白高聳雪牆Yahoo創作摩人43,426 次觀看・3 週前
- 10:56草爺萬壽無疆!! 讓我們一起賞你個好吃的蛋糕,讓你感動得不要不要【我家阿姨什麼都會】含羞草日記9,048 次觀看・1 個月前
- 10:46【酒精麻將】用酒精麻將來推廣澎湖,未開打先喝一波,終極版的能撐多久?含羞草日記6,501 次觀看・3 天前
- 12:13來貢寮要吃這家!平價尚青ㄟ海鮮料理!滷九孔鮑只要90元?! 新北貢寮美食推薦我是馬鈴薯小姐雁靈5,205 次觀看・3 天前