Marks & Spencer said the coronavirus crisis would indelibly change its business and that it would accelerate its turnaround, as the company seeks to reinvent itself
) said the coronavirus crisis would indelibly change its business and that it would accelerate its turnaround, as the high street stalwart seeks to reinvent itself anew after a decade of failed revivals.
“I am determined to use the lessons from the crisis and accelerate the transformation of M&S so we can emerge as a renewed and stronger business,” he told reporters on Wednesday, as the group reported a 21% fall in 2019-20 profit.Rowe said the group would accelerate the closure of at least 100-120 stores.
It expects the impact of the COVID-19 crisis to last through the 2020-21 year and that subsequent demand may be depressed.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Massive rally marks 'frustration' phase of the recovery, Canaccord's Tony Dwyer saysMassive rally marks 'frustration' phase of the recovery, Canaccord's Tony Dwyer says (via TradingNation)
Read more »
Queen Elizabeth Marks First 'Virtual' Chelsea Flower Show with Ultimate Throwback PhotosQueen Elizabeth sent a special message to the organizers of the Chelsea Flower Show, wishing them well as they put on a special virtual program amid coronavirus
Read more »
EastEnders star Melissa Suffield dubs her stretch marks 'battle scars'Former EastEnders star Melissa Suffield announced that she welcomed a baby boy with her fiancé Robert Brendan in March
Read more »
Salons in California a ‘Few Weeks’ From Reopening, Governor SaysCalifornia appears to be picking up speed in its reopening plans amid the coronavirus pandemic.
Read more »
Trump Again Considering Withholding WHO FundingPresident Trump is again considering cutting off funding to the World Health Organization, administration officials said, in a possible shift from a prior plan to restore partial funding to the group.
Read more »