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.
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