M&S hit by Covid-19 and Brexit

Food and fashion retailer Marks & Spencer has seen its sales fall by 7.6% in the last three months, despite having a ‘robust’ Christmas. The store’s food division grew by 2.6%, but clothing and home sales dropped 24.1%. Online sales were strong, including a new tie-up with Ocado to offer grocery deliveries for the first time, and shoppers were keen on buying sleepwear and leisurewear as they stayed indoors. The national lockdown in England hit particularly hard, with both food and non-food sales down 4.5% and 40.5% respectively.