Life Style

UK retailer Marks & Spencer reports revenue of £ 8,973m for the 21st fiscal year.

British multinational retailer Marks & Spencer (M & S) reported 11.9% of sales of £ 10,181.9 million in the previous fiscal year for the entire 2021 fiscal year ending March 27, 2021. Reported a decrease in sales of £ 8,972.7 million. The pre-tax loss in 2021 was £ 209.4m (2020: profit of £ 27.4m).

“In an unprecedented year, we were able to achieve resilient trading performance thanks to the extraordinary efforts of our colleagues. In addition, we are transforming even faster through the Never the Same Again Program. By moving forward, we were able to go beyond modifying the basics to create a restructured M & S, “said Marks & Spencer CEO Steve Rowe in a press release.

UK food revenues fell to £ 5,994.8 million (£ 6,028.2 million) in fiscal year 21 and UK clothing and household revenues fell to £ 2,198.6 million (£ 3,209,100,000). .. M & S’s international revenues fell to £ 779.3 million (£ 944.6 million).

According to the company, Ocado Retail generated a net profit of £ 78.4m annually. Clothing and household performance reflects the significant impact of store lockdowns, significant changes in product mix, and inventory consolidation challenges, but in part due to the very strong growth of 53.9% online. It was offset.

“We implemented MS2 and took multiple steps to improve online performance, so we can take advantage of changing customer shopping patterns, gradual increase in online sales and growth in market share for a year. This was the result of strong traffic, aggressive customer growth, increased frequency, and lower revenues, “said the company.

“With the right teams in place to accelerate change in the trading business and build a trajectory for future growth, we have a clear outlook for making M & S special again. Has taken the next step, “Raw concludes with a release.

Fiber2Fashion News Desk (JL)

British multinational retailer Marks & Spencer (M & S) reported 11.9% of sales of £ 10,181.9 million in the previous fiscal year for the entire 2021 fiscal year ending March 27, 2021. Reported a decrease in sales of £ 8,972.7 million. The pre-tax loss in 2021 was £ 209.4m (2020: profit of £ 27.4m).



UK retailer Marks & Spencer reports revenue of £ 8,973m for the 21st fiscal year.

Source link UK retailer Marks & Spencer reports revenue of £ 8,973m for the 21st fiscal year.

Back to top button