The retail chain Marks and Spencer has become the latest organisation to issue a warning on its business in the light of the Covid-19 virus.
The Compnay said that it suffered a substantial fall in sales in its clothing and homes business and as a result its forecast for the current quarter are “adversely affected”.
In a statement the retailer added
“It is too early to make any reasonable forecast for revenues in the next financial year but we are planning on the basis of a prolonged downturn in demand for Clothing and Home.
We are preparing for the contingency that some stores may have to close temporarily. However, our business model of operating parallel Clothing and Food businesses and our strategy to move online including the Ocado joint venture should provide more resilience than some single sector businesses.”
The retailer also added that it did not see a return to normal trading conditions in the autumn