Marks & Spencer to cut 7,000 jobs after Covid-19 hits sales - business live

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Rolling coverage of the latest economic and financial news, as high street chain M&S announces streamlining programme, and hefty job cuts

The scale of the slump in M&S’s clothing and homeware business is quite stunning -- down almost 30% since stores reopened in mid-June. Over the last eight weeks, in-stores sales are down 47.9% compared with a year ago. Online sales are strongly higher, up 39.2%, but that still leaves total sales 29.9% lower.

 

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Once a great store but now - £75 for pair of shoes sewn in Bangladesh that is selling down the road for £15 in Primark. Slim fit jeans that are slim if the definition of slim is closer to obese. Polyester 'quality' shirts that cost a fortune... all round doodoo show

Not sure about everything else, but best boxer shorts and bacon and egg sandwiches by far! 😁

Wendy stole clothes from there

Their clothing is awful, and I’m a male of 50 years and 48 months 😉 The food and beer selection is superb though

DawnHFoster M&S should scrap their clothing range and sell urban streetwear instead

They start selling via Ocado as of next month. Hopefully this will give the business a shot in the arm.

The slow death of another retail dinosaur.

Despite their policy to reduce plastic, in January 2019 I went to their deli counter and found everything in its own plastic container. Small pies, quiche etc. I haven't been back.

Everyone buying online and companies have functioned with less staff so going to continue that way. Scheme was great in idea but paying staff until October has backfired as companies realised they don’t need so many staff or offices

Their market is still out there, they need to adapt to finding the finger fall rather than the footfall. Up training staff and upgrading their online presence it the new challenge. marksandspencer

This is a lie trump said our economy is doing fine fake news. If trump says so its so. Trump doesn't lie. 😅🤣😂

So sad to read this news, I bought them two white formal shirts and they are brilliant, some menswear are really nice and quality, my ages is in 30s and I love them.

I went to marksandspencer last week, the queue to pay was long with too few staff. Got fed up waiting and left without buying.

Not at all surprised. I was in a big one last night and it was emptier than I expected of both people and stuff to sell.

Quest4Truth7 Town centre stores at Bedford + Northampton were doing quite alright, but were savagely closed; the rest of the high street has collapsed. Public never told real reasons, but one could be slimline mens clothing, when most of us want a little slack? It is a shambles.

Their clothing range is absolutely appalling, old fashioned, staid and boring. I wouldn't wear any of it and I'm 67.

Hi why don't you try some real investigative journalism for a change?

It would help if, every time I have gone into M&S since they reopened, they didn’t tell me “You’ll have to order on line”. 🧐

From the States, I offer my empathy and sorrow that your leadership is almost as shit as ours.

Their clothing has been out of step with the consumer for years & aimed at an ageing population. They should follow Uniqlo and provide simple separates. I feel sorry for the staff, M & S has been mis-managed for years

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