Damage to High Street’s ‘catastrophic’ Christmas and M&S

High Street companies are preparing for a ‘catastrophic’ Christmas as Marx and Spencer head to their first loss in their 94-year history as a listed company.

High street firms are preparing for a ‘catastrophic’ Christmas as Marks & Spencer is heading for the first loss in its 94-year history as a listed company.

Retailers are preparing for the worst festive season in their history as the latest Covid-19 lockdown threatens to wipe out spending on brick-and-mortar stores.

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City figures suggest that even Marx and Spencer, who were able to make a profit during World War II – will report a pre-tax loss of ৯ 9 million for six months from September 2 when it released its half-year results on Wednesday.

Information technology company Springboard expects a ৮ 87.3 per cent drop in the UK’s high streets over the Christmas period from November 22 to December 2, compared to last year.

Visitors are expected to drop 622 percent across all retail destinations, including retail parks and shopping malls, leaving many brick-and-mortar shops in dire straits.


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