Name: M&S records first loss in 94 years
Uploaded: 2020-11-04T20:20:05.000Z
Duration: 1 min 32 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Basic passive voice

British High Street store Water Marks and Spencer reported the first loss in its nearly 100 years as a publicly listed company on Wednesday that after clothing sales were hammered by restrictions on shopping and encouraging performance in food, however, sent its battered shares higher.

Sentences with advanced comparative

Stock rose around 5% as investors took comfort that the half year loss was not as bad as feared.

They have also been positive signs following the initial success of a partnership with online retailer Ocado.

CEO Steve Rose said the September launch of the venture had gone fantastically with customer reaction ahead of expectations.

M and S has been struggling to reinvent itself after decades of failed attempts even before this year's global slowdown.

In May, it said the crisis would change its business and accelerate the latest turnaround plan, delivering three years of change in one.

M and S made a pre tax loss of $22.6 million before one off items in the 26 weeks to September 26 its first deficit since joining the stock market in 1926.

The outcome was ahead of analyst forecasts but a reversal from profits.

 In the same period last year, clothing and homeware revenue slumped over 40% as shoppers were forced to stay home in the spring. 

Subtitles ListPlay Video

M&S records first loss in 94 years

struggle

period

crisis

positive