The High Street Companies Prepare for a “ Disaster ” Christmas as Marks & Spencer Heads to Their First Loss in 94 Years of Its History as a Listed Company
The High Street Companies prepare for a “catastrophic” Christmas as Marks & Spencer heads to its first loss in its 94-year history as a listed company.
Retailers are preparing for the worst festive period in history as the recent Covid-19 lockdown threatens to wipe out spending in brick and mortar stores.
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City figures believe Marks & Spencer – who even managed to make a profit during WWII – will be £ 59m on pre-tax losses for the six months ending September 26 when they reveal their mid-year results on Wednesday.
It comes as data company Springboard expects visits to High Streets in Britain to drop 87.3 per cent from a year ago during the Christmas period from November 22 to December 26.
In all retail destinations, including retail parks and malls, visitor numbers are expected to decrease by 62 percent – leaving many brick and mortar stores in tatters.