Muqeem Ahmad, London,<\/p>\n
British retailer Marks & Spencer’s suffered an 88% drop in revenue last year, resulting in a loss of 201.21 million as of March 27.<\/p>\n
According to data released by M&S, business activity remained positive at the beginning of the year and will improve in near future. Following this encouraging statement, Marks & Spencer’s shares rose to 6%.<\/p>\n
According to the 137-year-old business, clothing and home appliances fell 31.5% last year, mainly due to the closure of all UK outlets during the lockdown. However, food sales remained 1.3% higher.<\/p>\n
The heads of the companies have announced revolutionary changes in their business activities. These include the closure of non-profit stores, the use of information technology, the focus on e-commerce and the improvement of product quality.<\/p>\n
In the next ten years, 30 stores will be closed and 80 stores will be relocated.<\/p>\n
It should be noted that Marks & Spencer has so far relocated 59 stores to other locations and laid off thousands of employees.<\/p>\n","protected":false},"excerpt":{"rendered":"
Muqeem Ahmad, London, British retailer Marks & Spencer’s suffered an 88% drop in revenue last year, resulting in a loss of 201.21 million as of March 27. According to data released by M&S, business activity remained positive at the beginning of the year and will improve in near future. Following this encouraging statement, Marks & […]<\/p>\n","protected":false},"author":5,"featured_media":12824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1203,31,1416],"tags":[],"class_list":["post-20487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-uk"],"_links":{"self":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/20487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/comments?post=20487"}],"version-history":[{"count":1,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/20487\/revisions"}],"predecessor-version":[{"id":20488,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/20487\/revisions\/20488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media\/12824"}],"wp:attachment":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media?parent=20487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/categories?post=20487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/tags?post=20487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}