Marks & Spencer (M&S), the renowned fashion retailer from the UK, has said that its clothing and home segment will remain fully open as England goes into its second lockdown from today (5 November).
Last weekend, Prime Minister Boris Johnson had announced that England will go into 4-week lockdown that will end on 2 December.
Talking about the retailer’s decision to keep its stores open, Steve Rowe, Chief Executive, M&S, said that while the retailer is committed to strictly follow all Government guidelines, it will, however, keep its stores fully open.
He also said that despite its clothing and home segment getting hugely affected during the first quarter, the performance of both the segments improved considerably in the second quarter.
Steve substantiates the above by saying that M&S made a statutory loss during the period, but it also made an operating profit, and that’s the best way to measure its real performance before ‘one-off’ factors.”
The retailer is now hoping for a better trading during the second lockdown despite a not-so-good half-yearly performance. Whether that happens, only time will tell!
Meanwhile, M&S, like Primark, has also urged the Government to extend trading hours once the lockdown ends on 2 December.
It will be interesting to see the performance of M&S’ clothing section during this 4-week period – especially with Black Friday and Christmas nearing.