Pedestrians wearing or covering a face mask due to the COVID-19 pandemic will walk past an M&S (Marks and Spencer) store in central London on 20 July 2020.
tolga akmen / Agence France-Presse / Getty Images
Marks & Spencer, the iconic but struggling UK retailer, said on Tuesday that it plans to cut about 7,000 jobs as the clothing pandemic has depressed.
M&S MKS,
said the cuts on the job will come in the next three months in its central support center, regional management and stores. It said it expects to achieve a significant share through voluntary departure and early retirement.
M&S said in the last 13 weeks, like-for-like food sales, excluding the closure of hairdressing and travel franchise units, increased 10.6%, while clothing and household income fell 38.5%. Since stores reopened, total clothing and home sales have been 29.9%.
The retailer said in the last 8 weeks, online sales have represented 41% of its clothing and total at home.
It said it was on track to become the food supplier at online delivery company Ocado OCDO,
in September and said the advantage had already been seen in terms of trade and an extended reach made for the transition.
M&S shares have fallen 47% this year, compared to a 19% drop for the FTSE 100 UKX,
of which it has become exile.
.
