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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